logo
  

Service Corp. Lifts FY Profit Outlook; Shares Up 4%

Shares of Service Corp. International (SCI) are gaining over 4% on Wednesday extended session after the company lifted its full year outlook.

Looking forward to the full year, the company expects earnings of $4.15 to $4.45 per share, up from previous guidance of $3.20 to $3.50 per share. Analysts polled by Thomson Reuters currently estimate earnings of $3.47 per share.

Commenting on the outlook, CEO Tom Ryan said, "Based on our continued outperformance, we are raising the midpoint of our full year 2021 adjusted earnings per share guidance by 95 cents to $4.30 and the midpoint of our adjusted operating cash flow guidance by $150 million to $888 million. This is the result of the increased funeral services performed and continued strong performance of preneed cemetery property sales that we expect to continue for the remainder of 2021."

SCI closed Wednesday's trading at $63.39, down $0.56 or 0.88%, on the NYSE. The stock, however, gained $2.61 or 4.12% in the after-hours trading.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Luxury electric car maker Tesla Inc. has produced more than 3 million vehicles, of which 1 million in Shanghai Gigafactory, according to its founder and Chief Executive Officer Elon Musk. In a tweet on Sunday, Musk said, "Congrats Giga Shanghai on making millionth car! Total Teslas made now over 3M." King's Hawaiian is recalling its Pretzel Slider Buns, Pretzel Hamburger Buns and Pretzel Bites products as they contain one ingredient already recalled by Lyons Magnus, the U.S. Food And Drug Administration said. The Pretzel recall was initiated out of an abundance of caution after one of its supplier Lyons Magnus recently called back various nutritional and beverage products. German consumer goods maker Henkel AG & Co. reported Monday weak profit in its first half amid increasing costs, despite growth in sales. Further, the company maintained its adjusted earnings forecast for fiscal 2022, but raised outlook for organic sales growth.For fiscal 2022, the company continues to expect adjusted earnings per preferred share to decline in the range of 15 percent to 35 percent
RELATED NEWS
Follow RTT