Service Corporation International (SCI) Investor presentation summary

Strategic priorities and business model

• Focus on growing revenue, leveraging scale, and deploying capital to drive long-term value.

• Financial flexibility supported by $1.54B in liquidity and a leverage ratio within the 3.5x–4.0x target range.

• Largest player in a fragmented deathcare market, holding a 16% revenue share in the U.S. and Canada.

• Competitive advantages include national brand, leading technologies, supply chain efficiencies, and integrated funeral-cemetery locations.

Financial performance and shareholder returns

• $7.4B returned to shareholders via dividends and share repurchases since 2004, with a 57% reduction in outstanding shares.

• Dividends per share have grown at a 16% CAGR from 2005 to 2024, reaching $1.40 per share.

• Superior total shareholder returns: 3-year annualized return of 11%, 5-year of 16%, and 10-year of 16% as of September 2024.

• Adjusted EPS guidance for 2024 is $3.47–$3.57, establishing a new base for future growth.

Growth framework and outlook

• Long-term earnings growth framework targets 8–12% organic growth, with 5–7% from funeral and mid-single-digit growth from cemetery preneed sales.

• Capital deployment of 3–5% supports reinvestment, acquisitions, and share repurchases.

• Four key growth pillars: demographic tailwinds, enhanced marketing and sales, cemetery inventory opportunities, and preneed backlog.

• 2024 guidance: adjusted operating cash flow of $950M and maintenance capital expenditures of $325M.