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Service Corporation International (SCI+0.71%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenue of $4,186,379,000, an increase from $4,099,778,000 in the previous year. The increase is attributed to higher cemetery revenue and general agency revenue.
Funeral revenue for the year was $2,324,200,000, with a comparable revenue of $2,287,600,000. The company performed 347,894 comparable funeral services, with an average revenue per service of $5,671.
Cemetery revenue increased to $1,862,179,000, with comparable revenue of $1,847,900,000. The increase was driven by higher recognized preneed property revenue and other revenue.
The company reported a gross profit of $1,090,657,000 for the year, with funeral operations contributing $465,262,000 and cemetery operations contributing $625,395,000.
Corporate general and administrative expenses were $139,019,000, down from $157,368,000 the previous year, due to a reduction in legal reserves.
Net income attributable to common stockholders was $518,648,000, with basic earnings per share of $3.57 and diluted earnings per share of $3.53.
The company repurchased 3,439,551 shares of its common stock at an aggregate cost of $249,800,000 during the year.
SCI's total assets at the end of the year were $17,379,438,000, with total liabilities of $15,700,769,000 and total equity of $1,678,669,000.
The filing also details various financial agreements, including a new construction loan agreement and the issuance of 5.750% Senior Notes due 2032.
SCI's strategic focus remains on growing revenue, leveraging scale, and investing capital, with plans to continue acquisitions and return excess cash to shareholders through dividends and share repurchases.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Service Corporation International annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.