Service Corporation (SCI) Q3 Earnings Miss, Revenues Down Y/Y
Zacks Investment Research | Oct 30, 2019 10:36PM ET
Service Corporation International (NYSE:SCI) posted lower-than-expected results for third-quarter 2019. Although the company’s earnings grew on a year-over-year basis, revenues declined. Results were affected by sluggish preneed cemetery sales production in two West Coast markets in Asia.
However, solid funeral revenues and margins, owing to an increase in funeral services performed, along with cost-cutting efforts contributed to the third-quarter results to some extent. Further, management reiterated its bottom-line view for 2019. The company continues to anticipate adjusted earnings of $1.90-$2, the mid-point ($1.95) of which is in line with the Zacks Consensus Estimate. Meanwhile, the same is up from the last year’s reported figure of $1.79.
Service Corporation International Price, Consensus and EPS Surprise
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