Service Corp. International (SCI, Financial) filed Quarterly Report for the period ended 2012-03-31.
Service Corp In has a market cap of $2.46 billion; its shares were traded at around $11.35 with a P/E ratio of 17.1 and P/S ratio of 1.1. The dividend yield of Service Corp In stocks is 1.8%. Service Corp In had an annual average earning growth of 7.8% over the past 10 years.
Our consolidated funeral services performed increased 2.4% during the first quarter of 2012 compared to the same period in 2011 primarily as the result of acquisitions in 2012 and 2011, partially offset by a 4.6% decrease in comparable funeral services performed. We believe the comparable decrease is consistent with trends experienced by other funeral service providers and industry vendors. Our comparable cremation rate of 45.0% in the first quarter of 2012 increased from 44.1% in 2011. We continue to expand our cremation memorialization products and services, which have resulted in higher average sales for cremation services.
Our consolidated average revenue per funeral service decreased $107, or 2.0% ,in the first quarter of 2012 compared to 2011, primarily as a result of our acquisition of Neptune which has a lower average partially offset by the increase in comparable average revenue per funeral service described below. Our comparable average revenue per funeral service increased $166, or 3.1%, in the first quarter of 2012 compared to the same period in 2011. Excluding an unfavorable Canadian currency impact and higher funeral trust fund income, the average revenue per funeral service grew approximately 3.2%.
Consolidated funeral gross profits increased $0.7 million, or 0.7%, in the first quarter of 2012 compared to the same period in 2011. This increase is primarily attributable to $1.8 million of additional gross profits related to acquisitions that occurred in 2011, partially offset by a $0.1 million decrease in comparable gross profits and a decline of $1.0 million of gross profits that were contributed by non-strategic assets divested throughout 2012 and 2011.
Consolidated cemetery revenues increased $6.9 million, or 4.0%, in the first quarter of 2012 compared to the same period in 2011. This increase was partially offset by a decline of $1.7 million in revenues contributed by non-strategic assets that were divested throughout 2012 and 2011. Comparable cemetery revenues increased $8.6 million, or 5.1%, primarily as a result of higher cemetery preneed property sales production and higher trust fund income during the current quarter, partially offset by lower atneed revenues.
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Service Corp In has a market cap of $2.46 billion; its shares were traded at around $11.35 with a P/E ratio of 17.1 and P/S ratio of 1.1. The dividend yield of Service Corp In stocks is 1.8%. Service Corp In had an annual average earning growth of 7.8% over the past 10 years.
Highlight of Business Operations:
Consolidated revenues from funeral operations were $424.3 million in the first quarter of 2012 compared to $408.4 million for the same period in 2011. This increase is attributable to $19.5 million of additional revenues as the result of acquisitions in 2011. These increases were partially offset by a decline of $1.5 million in revenues contributed by non-strategic assets that were divested throughout 2012 and 2011 and the $2.1 million decrease in comparable revenues described below.Our consolidated funeral services performed increased 2.4% during the first quarter of 2012 compared to the same period in 2011 primarily as the result of acquisitions in 2012 and 2011, partially offset by a 4.6% decrease in comparable funeral services performed. We believe the comparable decrease is consistent with trends experienced by other funeral service providers and industry vendors. Our comparable cremation rate of 45.0% in the first quarter of 2012 increased from 44.1% in 2011. We continue to expand our cremation memorialization products and services, which have resulted in higher average sales for cremation services.
Our consolidated average revenue per funeral service decreased $107, or 2.0% ,in the first quarter of 2012 compared to 2011, primarily as a result of our acquisition of Neptune which has a lower average partially offset by the increase in comparable average revenue per funeral service described below. Our comparable average revenue per funeral service increased $166, or 3.1%, in the first quarter of 2012 compared to the same period in 2011. Excluding an unfavorable Canadian currency impact and higher funeral trust fund income, the average revenue per funeral service grew approximately 3.2%.
Consolidated funeral gross profits increased $0.7 million, or 0.7%, in the first quarter of 2012 compared to the same period in 2011. This increase is primarily attributable to $1.8 million of additional gross profits related to acquisitions that occurred in 2011, partially offset by a $0.1 million decrease in comparable gross profits and a decline of $1.0 million of gross profits that were contributed by non-strategic assets divested throughout 2012 and 2011.
Consolidated cemetery revenues increased $6.9 million, or 4.0%, in the first quarter of 2012 compared to the same period in 2011. This increase was partially offset by a decline of $1.7 million in revenues contributed by non-strategic assets that were divested throughout 2012 and 2011. Comparable cemetery revenues increased $8.6 million, or 5.1%, primarily as a result of higher cemetery preneed property sales production and higher trust fund income during the current quarter, partially offset by lower atneed revenues.
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