Service Corp International (SCI) said after close Wednesday that it earned $0.78 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $1 billion, beating estimates by $23.2 million.
In the same quarter a year ago, the company earned $0.68 per share on revenue of $977.7 million.
The stock is up 13.81% to $60.91 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 28. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Service Corp International is a personal services company that provides funeral and cemetery services and products from its locations throughout the United States and Canada. The company segments its operations into funeral service and cemetery business functions. At its funeral service locations, Service Corp. provides all professional services, facilities, vehicles, and merchandise related to funerals and cremations. Cemetery locations provide cemetery property, memorial markers, and graveyard services to customers. Service Corp. derives the majority of its revenue from its funeral locations, while the cemetery division also generates a significant amount of the company's total income. Geographically, the company gets a major share of revenue from the United States.
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Service Corp International Up 13.81% To $60.91 After Earnings Beat
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