Service Corporation International (SCI) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 2, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the SCI Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [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. This is Debbie Young. Today, we will be providing an overview of our business results for the third quarter, as well as some thoughts about our outlook for the fourth quarter and for next year as well.

As usual, let me quickly go over our Safe Harbor language before we begin with prepared remarks. Any comments made by our management team that state our plans, beliefs, 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.

Today we'll also discuss certain non-GAAP financial measures and a reconciliation of these measures to the appropriate GAAP measures can be found in the tables at the end of our earnings release and also on our website under the Investors, Webcast and Events session.

With that out of way, I will hand it over to Tom Ryan, Chairman and CEO for opening remarks.

Thomas Ryan

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 is your continued commitment, dedication, and execution that positioned us for the results we posted this quarter. You have continued to stay relentlessly focused on what we do best, helping our atneed client families gain closure and healing through the process of grieving remembrance and celebration, and helping our preneed client gain peace of mind by securing their final arrangements.

This morning, I'm going to begin my remarks with a high level overview of the quarter, followed by some further color on our business performance for the quarter, including some detail around our solid funeral and cemetery results. Then, I will provide some year-to-date observations on 2022 that establish a baseline for our preliminary thoughts about 2023.