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Service Corp. Q2 profit climbs 30.9% YOY


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Service Corp. Q2 profit climbs 30.9% YOY

Service Corp. International said its second-quarter normalized net income came to 27 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS rose 36.7% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $55.8 million, a gain of 30.9% from $42.6 million in the year-earlier period.

The normalized profit margin increased to 7.4% from 5.7% in the year-earlier period.

Total revenue rose year over year to $754.4 million from $746.8 million, and total operating expenses came to $621.2 million, compared with $622.9 million in the year-earlier period.

Reported net income grew from the prior-year period to $53.0 million, or 26 cents per share, from $26.1 million, or 12 cents per share.