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0 0 0 0 0.00255623721881394 0.00255623721881394 0.00255623721881394 -0.0043456032719835
Stock impact report

How The Pandemic Is Killing The Death Business [Forbes]

Service Corporation International (SCI) 
Last service corporation international earnings: 4/29 04:15 pm Check Earnings Report
Company Research Source: Forbes
The rising bodycount means lower revenues for the nation’s largest funeral home and cemetery owner. After all, why have a funeral when no one can attend?I“It’s sad,” says Ryan. “People are dying alone. Your family can’t come in the ICU, and then you have a funeral and remembrance without your friends around.”Getty ImagesIt would be easy to assume that the novel coronavirus—which has already killed 40,600 Americans—would be a boon for Service Corp (SCI) and others in the funeral business. As the nation’s biggest “deathcare” provider, SCI owns 1,471 funeral homes and 482 cemeteries across the U.S. and in Canada. Last year SCI averaged $10,000 in revenue on each of the 319,000 dead people it provided care for (about 12% of total U.S. deaths of 2.8 million last year). If Covid-19 ends up killing 100,000 Americans, and SCI gets 12,000 of them, that should mean an additional $120 million or so in new revenue growth. That’s not insignificant for a company who booked sales of $3.2 billion in Show less Read more
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