Service Corporation International (SCI) Q4 2025 earnings summary

Executive summary

• Adjusted EPS for Q4 2025 was $1.14, up 8% year-over-year; full-year adjusted EPS was $3.85, up 9% from 2024.

• Net income attributable to common stockholders for Q4 2025 was $159.4 million, compared to $151.4 million in Q4 2024.

• Revenue grew 2% year-over-year in Q4 2025 and 3% for the full year, driven by both funeral and cemetery segments.

• Gross profit increased 2% in Q4 and 5% for the year, with margin expansion in cemetery.

• Strong preneed sales production and disciplined capital deployment supported growth and shareholder returns.

Financial highlights

• Q4 comparable funeral revenues rose by $3 million (just under 1%), driven by 3.2% growth in average revenue per service.

• Funeral gross profit declined by nearly $4 million; gross margin fell 70 bps to ~21% due to higher recognized selling costs.

• Comparable cemetery revenue increased by $5 million (about 1%), with gross profit up $5 million and margin up 70 bps to over 36%.

• Adjusted operating cash flow for Q4 was $213 million; full-year 2025 was $966 million, up 11% from 2024.

• Q4 2025 revenue: $1,111.5M (up from $1,093.0M in Q4 2024); full year: $4,309.2M (up from $4,186.4M).

Outlook and guidance

• 2026 adjusted EPS guidance is $4.05–$4.35 (midpoint $4.20), representing 5%–13% growth.

• 2026 net cash from operations (excluding special items and cash taxes): $1,125M–$1,185M.

• Maintenance CapEx for 2026 expected at $325 million.

• Funeral volume expected flat to slightly down; average revenue per case to grow at inflationary rates.

• Cemetery revenue projected to grow 2%–5%, with margin expansion of 30–60 bps.