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Service Corp. Q2 profit falls 5.1% YOY

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Service Corp. Q2 profit falls 5.1% YOY

Service Corp. International said its second-quarter normalized net income was 27 cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

In the prior-year period, the per-share result was a profit of 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $53.0 million, a decrease of 5.1% from $55.8 million in the year-earlier period.

The normalized profit margin climbed to 7.5% from 7.4% in the year-earlier period.

Total revenue totaled $751.7 million, compared with $754.4 million in the prior-year period, and total operating expenses came to $626.6 million, compared with $621.2 million in the year-earlier period.

Reported net income decreased 70.5% from the prior-year period to $15.6 million, or 8 cents per share, from $53.0 million, or 26 cents per share.