Tag: sci

Finance

Some History and Investment Perspective on Service Corporation International

I’m a buy and hold investor and enjoy learning about companies that over time will bring a nice positive return to my portfolio. I also like to learn as much as I can about companies and those in the death care industry give me added perspective — I always try to learn what they are doing right and apply it to my own business.  Many times I learned valuable lessons – that I put to work right at home – […]

Finance

SCI to spend $255 million on capexp and acquisitions during 2017

Here’s a summary of the remarks of the Service Corporation International Executive Team during the company’s fourth quarter 2016 earnings call.  You can access the entire transcript at Seeking Alpha. CEO Thomas Ryan on the growth in the company’s preneed revenue:   “We also continue to grow our funeral preneed backlog, hosting a 4% growth in preneed funeral sales for the year as we utilize technology to remain more relevant to our employees, as well as our consumer audience.” CEO […]

Finance

Generational Equity Announces Sale of Weerts Funeral Home to SCI

DALLAS, Feb. 14, 2017 /PRNewswire/ — Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Weerts Funeral Home, Inc., headquartered in Davenport, IA, and Riverbend Cremation Service, LLC, in Bettendorf, IA, to Service Corporation International, headquartered in Houston, TX. The acquisition closed February 1, 2017. Details were not disclosed. Weerts Funeral Home was founded in 1909 and had been acquired from the Weerts family in 2005 by David Deuth. […]

Finance

SCI fourth quarter earnings beat estimates.

Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, issued fourth quarter 2016 financials.  Here are the highlights. Quarterly revenue increased by 5% to $809 due primarily to an increase in cemetery preneed revenue.  SCI funeral home revenues were flat. Net income declined by 11% to $66 million in the fourth quarter of 2016 due to higher tax rates related to business divestitures, a pension termination settlement and an adjustment of deferred tax […]