Service Corp. Lifts FY Profit Outlook; Shares Up 4%

(RTTNews) - Shares of Service Corp. International (SCI) are gaining over 4% on Wednesday extended session after the company lifted its full year outlook.

Looking forward to the full year, the company expects earnings of $4.15 to $4.45 per share, up from previous guidance of $3.20 to $3.50 per share. Analysts polled by Thomson Reuters currently estimate earnings of $3.47 per share.

Commenting on the outlook, CEO Tom Ryan said, "Based on our continued outperformance, we are raising the midpoint of our full year 2021 adjusted earnings per share guidance by 95 cents to $4.30 and the midpoint of our adjusted operating cash flow guidance by $150 million to $888 million. This is the result of the increased funeral services performed and continued strong performance of preneed cemetery property sales that we expect to continue for the remainder of 2021."

SCI closed Wednesday's trading at $63.39, down $0.56 or 0.88%, on the NYSE. The stock, however, gained $2.61 or 4.12% in the after-hours trading.