Service Corp. International Lifts FY22 Earnings Outlook

While reporting its results for the first quarter on Tuesday, Service Corp. International (SCI) lifted its outlook for the full year 2022.

The company now expects earnings of $3.30 to $3.70 per share, up from $2.80 to $3.20 per share. Analysts polled by Thomson Reuters currently estimate earnings of $3.00 per share. Analysts' estimates typically exclude one-time items.

"We are raising the midpoint of our full year 2022 adjusted earnings guidance by 50 cents to $3.50 and the midpoint of our adjusted operating cash flow guidance by $75 million to $775 million. These increases are driven by the strong earnings performance in the first quarter, particularly around higher funeral services performed and higher preneed cemetery sales. Additionally, we have raised our expectations for preneed cemetery sales production and cemetery revenue for the remaining nine months," said CEO Tom Ryan.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford Motor Co. has once again raised the price of its popular F-150 Lightning electric pickup truck after the automaker resumed its production that was halted following electric vehicle battery fire incident. The company will also resume shipments of the Lightning this week, reports said. Paducah, Kentucky-based Higdon Outdoors LLC is recalling certain battery packs and replacement batteries citing fire and/or burn hazards, the U.S. Consumer Product Safety Commission said. The recall includes lithium-ion battery packs and replacement batteries on XS Series Pulsators, Swimmers, Crazy Kicker, and Flasher motion decoys used for waterfowl hunting. New York-based Delta Enterprise Corp. is recalling about 43,380 units of 2-in-1 outdoor kids swings citing fall hazard, the U.S. Consumer Product Safety Commission said. This recall involves 2-in-1 Outdoor Kids Swing with model numbers SW86508MM, SW86516MN, SW86575MM, SW86576MN and SW86577PW.
Follow RTT