Service Corporation International (SCI) reported its financial results for the first quarter of 2026, revealing total revenue of $1.096 billion, a 2.5% increase from $1.074 billion in the same period last year. The company's property and merchandise revenue rose to $508.3 million, up from $493.7 million, while service revenue slightly decreased to $481.4 million from $481.9 million. Net income attributable to common stockholders was $135.8 million, or $0.97 per diluted share, compared to $142.9 million, or $0.98 per diluted share, in the prior year. The decline in net income was attributed to lower funeral gross profit and a decrease in the number of funeral services performed.

In terms of operational metrics, SCI experienced a 6% decrease in comparable funeral services performed, totaling 91,603 for the quarter. This decline was partially offset by a 3.4% increase in average revenue per service, which reached $5,947. The company’s cemetery operations, however, saw a 7.2% increase in revenue, driven by higher property and merchandise sales, resulting in a gross profit of $152.5 million, up from $137.4 million in the previous year. The increase in cemetery revenue was attributed to a rise in recognized preneed sales production.

Strategically, SCI continues to focus on expanding its market presence through acquisitions and new construction. The company operated 1,487 funeral service locations and 503 cemeteries as of March 31, 2026, with a significant backlog of $17.1 billion in future revenue from preneed sales. The company also reported a cash flow from operating activities of $333.8 million, reflecting a strong liquidity position that supports ongoing investments and shareholder returns.

The company’s financial condition remains stable, with total assets of $18.575 billion and total liabilities of $16.990 billion as of March 31, 2026. SCI's debt profile includes $5.163 billion in total debt, with a favorable maturity schedule. The company has maintained compliance with its debt covenants and continues to prioritize returning capital to shareholders through dividends and share repurchases. Looking ahead, SCI anticipates continued growth in its cemetery operations and remains focused on adapting to changing consumer preferences, particularly in the growing cremation market.

About SERVICE CORP INTERNATIONAL

Service Corporation International is North America's largest provider of deathcare services, including funeral homes, cemeteries, and crematoria. Operating under the Dignity Memorial brand, it offers at-need and preneed funeral, cemetery, and cremation products and services across North America and Canada. The company leverages scale, technology, and a broad geographic network to deliver personalized, high-quality end-of-life solutions.

This description was generated via AI from an annual report. Updated 8 months ago.

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