Service Corp. reports Q4 adjusted EPS 93c, consensus 91c

Reports Q4 revenue $1.1B, consensus $1.02B. Tom Ryan, the company’s President, Chairman, and CEO, commented on fourth quarter results: “We delivered a solid quarter as we closed out 2023 and are pleased to report growth in revenue and adjusted earnings per share. The revenue growth is primarily due to a 9% increase in preneed cemetery sales production, which drove higher gross profit. Adjusted cash flow for the quarter grew over $100 million from improved operating income enhanced by expected lower cash taxes and increased sources of working capital that more than offset higher cash interest payments.”