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Service Corp. tops Street 1Q forecasts

HOUSTON (AP) _ Service Corp. International (SCI) on Wednesday reported first-quarter net income of $174.7 million.

On a per-share basis, the Houston-based company said it had net income of 91 cents. Earnings, adjusted for non-recurring gains, came to 38 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The funeral home and cemetery operator posted revenue of $777.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $764 million.

Service Corp. expects full-year earnings in the range of $1.29 to $1.43 per share.

Service Corp. shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.92, a climb of 23 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCI at https://www.zacks.com/ap/SCI


Keywords: Service Corp., Earnings Report