Service Corporation International SCI is likely to register a top-line decline when it reports second-quarter 2024 earnings on Jul 31. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.01 billion, indicating a slight drop from the prior-year quarter’s reported figure.
The company’s bottom line is likely to increase year over year. The Zacks Consensus Estimate for quarterly earnings has remained unchanged in the past 30 days at 86 cents per share, suggesting growth of 3.6% from the figure reported in the year-ago quarter.
This deathcare products and services company has a trailing four-quarter earnings surprise of 6.1%, on average. SCI delivered an earnings surprise of 4.7% in the last reported quarter.
Factors To Note
Service Corporation has been reaping benefits from growing revenues in the Cemetery segment for a while. The Zacks Consensus Estimate for quarterly Cemetery revenues is pegged at $456.2 million, reflecting a 1.8% increase compared to the same quarter last year. The company’s focus on making capital investments to strengthen its network is yielding. In this regard, management is investing in its current funeral locations, renovating and updating its venues to establish a more contemporary setup. SCI is also elevating its cemetery inventory options to house a diverse customer base. The continuation of these trends is likely to have benefited SCI’s performance in the second quarter of 2024.
Service Corporation International Price and EPS Surprise
Service Corporation International price-eps-surprise | Service Corporation International Quote
However, adverse impacts stemming from moderation in consumer discretionary spending amid an inflationary environment might have been a hurdle. Also, prevalent higher interest rates are a threat to the company’s performance.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Service Corporation this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Service Corporation carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
Some Stocks With the Favorable Combination
Here are three companies worth considering, as our model shows that these also have the correct combination to beat on earnings this time:
Clorox CLX currently has an Earnings ESP of +1.20% and a Zacks Rank of 3. The company is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for Clorox’s quarterly revenues is pegged at $1.97 billion, calling for a decline of 2.4% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Clorox’s quarterly earnings of $1.54 implies a drop of 7.8% from the year-ago quarter’s levels. However, CLX has a trailing four-quarter earnings surprise of 128.5%, on average.
Coty COTY has an Earnings ESP of +22.73% and a Zacks Rank of 3 at present. The company is expected to register top- and bottom-line growth when it reports fourth-quarter fiscal 2024 numbers. The Zacks Consensus Estimate for COTY’s quarterly earnings has remained unchanged in the past 30 days at 5 cents per share. The consensus mark for earnings indicates a 400% surge from the figure reported in the year-ago quarter.
The consensus estimate for quarterly revenues is pegged at $1.38 billion, which indicates a rise of 1.8% from the figure reported in the year-ago quarter. COTY delivered a trailing four-quarter average negative earnings surprise of 22.2%.
Procter & Gamble PG currently has an Earnings ESP of +0.64% and a Zacks Rank #3. The company is likely to register top-line growth when it reports fourth-quarter fiscal 2024 numbers. The consensus mark for revenues is pegged at $20.72 billion, suggesting growth of 0.8% from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Procter & Gamble’s quarterly earnings per share of $1.37 is in line with the figure reported in the year-ago quarter. PG has a trailing four-quarter earnings surprise of 6.5%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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