Service Corp. Guides FY22 Profit Above Street View

While reporting its results for the fourth quarter, Service Corp. International (SCI) the company issued a profit outlook for the full year 2022, which is expected to beat current estimates of Street.

The company expects full-year 2022 adjusted earnings of $2.80 to $3.20 per share. Analysts polled by Thomson Reuters currently estimate earnings of $2.82 per share for the year.

Commenting on the outlook, CEO Tom Ryan said, "Looking ahead, our expectations for adjusted earnings per share for the full year of 2022 have improved from the $2.80 we provided last quarter on our earnings call to a midpoint of $3.00, primarily due to the continued impacts of the COVID-19 pandemic. Beyond 2022, we believe that the negative impact of the COVID-19 pandemic on services pulled forward from future years into 2020 and 2021 should begin to wane and a trend of year-over-year growth should begin as we approach an aging baby boomer cohort with a leaner and more technologically efficient and effective operating model."

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