How bad is the rise in mortality?
So bad funeral companies are starting to worry.
Today Service Corporation International, the largest for-profit funeral operator in North America, had its quarterly earnings call. SCI had another great quarter, you’ll be pleased to hear! So far in 2022 the company has made almost $500 million in profits - and its stock rose more than 10 percent today after its earnings report.
(Death is your best investment!)
SCI’s management seems fairly open with investors. For many years, much of the company’s growth came from buying family-run funeral homes as their operators, umm, died out. The underlying funeral business is slow growth and very predictable.
At least it used to be.
As Thomas L. Ryan, Service Corporation’s chairman and chief executive, told investors Wednesday morning:
If you go back in this industry and particularly with SCI, year-to-year you would see the numbers of deaths -- probably in one year you may be down 1% o...
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