On Feb. 11, Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, reported results for the fourth quarter of 2025.
Highlights included:
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Revenue increased $19 million, or 2%, over the fourth quarter of 2024 with growth in both the funeral and cemetery segments, resulting in a full year revenue increase of $123 million, or 3%, over the prior year.
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Gross profit increased $6 million, or 2%, over the fourth quarter of 2024, with full year gross profit increasing $49 million, or 5%, over the prior year.
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Comparable preneed funeral sales production grew 11% over the fourth quarter of 2024.
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Comparable total funeral sales average grew 3% over the fourth quarter of 2024.
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Comparable preneed cemetery sales production grew 2% over the fourth quarter of 2024, with a full year increase of $48 million, or 4%, over the prior year.
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GAAP diluted earnings per share of $1.13 grew 9% over the fourth quarter of 2024 and GAAP diluted earnings per share of $3.80 grew 8% for the full year over prior year.
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Adjusted earnings per share of $1.14 grew 8% over the fourth quarter of 2024 and adjusted earnings per share of $3.85 grew 9% for the full year over prior year.
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GAAP operating cash flow was $943 million for the full year of 2025 compared to $945 million for the full year of 2024.
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Adjusted operating cash flow was $966 million for the full year of 2025 compared to $967 million for the full year of 2024.
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Excluding cash taxes and special items in both years, year to date net cash provided by operating activities increased $108 million, or 11%, to $1,106 million compared to $998 million in the prior year.
Tom Ryan, the company’s chairman and chief executive officer, commented on fourth quarter results:
“We delivered a strong finish to the year, highlighted by fourth quarter 2025 adjusted earnings per share growth of 8%. Solid top-line performance across both operating segments drove gross profit expansion. During the quarter, we delivered combined preneed funeral and cemetery sales production growth of 6% and saw continued improvement in the average funeral revenue per service.
For the full year, adjusted earnings per share increased 9% to $3.85, and we generated $966Â million in adjusted operating cash flow. This robust cash generation enabled disciplined capital deployment toward strategic acquisitions, development of cemetery property, real estate purchases, and construction of new funeral homes, while returning $645 million to shareholders through dividends and share repurchases. Our acquisition spend included $101Â million for 22 funeral homes and 2 cemeteries in major metropolitan markets, and we invested approximately $79 million toward real estate, new construction, and facility expansions.
Looking ahead to 2026, we believe we are well positioned to deliver continued earnings momentum, with the midpoint of our expected adjusted earnings per share growth within our long-term target range of 8% to 12%. I would like to thank our more than 25,000 associates for their unwavering commitment to serving client families. Their dedication supports our financial strength and provides the flexibility to execute our long-term growth strategy of driving revenue, leveraging our unmatched scale, and allocating capital to enhance shareholder value.”
