Service Corporation International (SCI) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 4, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the Service Corporation International First Quarter 2022 Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to SCI management. Please go ahead.

Debbie Young

Thank you, and good morning to everyone. This is Debbie Young, Director of Investor Relations at SCI. Welcome to our company's review of business results for the first quarter.

As usual, I'm going to cover the safe harbor language before we begin with the prepared remarks. Any comments made by our management team that state our beliefs, plans, expectations or projections for the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such statements.

These risks and uncertainties include, but are not limited to, those factors identified in our earnings release and in our filings with the SEC that are available on our website. During this call, we may also discuss certain non-GAAP financial measures. A reconciliation of these measures to the appropriate GAAP measures can be found in the tables at the end of our earnings release and on our website under the Investors Webcast and Events section.

With that behind us, I'll now pass it on to our Chairman and CEO, Tom Ryan.

Tom Ryan

Thank you, Debbie, and hello, everyone, and thank you for joining us on the call today. First of all, I want to express my heartfelt thanks to our entire SCI team, it’s your continued courage and commitment that positioned us for the results we posted this quarter.

More importantly, you have continued to stay relentlessly focused on what we do best, helping our client families and our communities gain closure and healing through the process of grieving, remembrance and celebration. Every day you live and reinforce the Dignity Memorial motto, every detail of our member.

Now to the business at hand. This morning, I'm going to provide some color on our business performance for the quarter, including some detail around our strong funeral and cemetery results. Then I will offer some commentary on our revised 2022 outlook, keeping in mind we must be flexible as we navigate the uncertainty of another year still being impacted by COVID-19.