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Service Corp. International (SCI) Tops Q1 EPS by 2c

April 23, 2014 4:19 PM EDT

Service Corp. International (NYSE: SCI) reported Q1 EPS of $0.28, $0.02 better than the analyst estimate of $0.26. Revenue for the quarter came in at $747.1 million versus the consensus estimate of $772.63 million.

Tom Ryan, the Company's President and Chief Executive Officer, commented on the first quarter of 2014:"We are pleased to report earnings and cash flow in the first quarter that were in-line with our expectations. The addition of the legacy Stewart businesses helped to overcome anticipated lower funeral profits due to the unusually strong flu season in the early part of 2013. The onboarding of 5,000 Stewart associates and the integration of our new businesses is progressing well. We have identified additional synergies in the range of $15 - $20 million, which brings our total expected synergies to $75 to $80 million. While implementing new sales structures, processes, and systems can be temporarily distracting, we are confident that these enhancements will strengthen our sales and operating platform which in turn will deliver future growth for our shareholders. Looking ahead to the remainder of 2014, our outlook remains positive and we are comfortable with the upper end of our financial guidance ranges for earnings and cash flow that we have previously communicated."

For earnings history and earnings-related data on Service Corp. International (SCI) click here.



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