Service Corporation International Revises FY23 EPS To $3.40-$3.60 From $3.45-$3.75 Vs $3.53 Est
Portfolio Pulse from Benzinga Newsdesk
Service Corporation International (SCI) has revised its FY23 EPS guidance to $3.40-$3.60 from $3.45-$3.75 due to the inflationary environment and higher than expected interest rates. The company also raised its adjusted operating cash flow guidance to $830 million to $880 million from $740 million to $800 million, reflecting strong operating cash flow and an expected decrease in cash taxes due to a change in tax accounting method.
August 04, 2023 | 10:23 am
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SCI has revised its FY23 EPS guidance downwards due to inflation and higher interest rates. However, it has raised its operating cash flow guidance, indicating strong cash flow and a decrease in cash taxes.
The downward revision of EPS guidance indicates that SCI expects lower profitability, which could negatively impact its stock price. However, the increase in operating cash flow guidance suggests strong cash generation, which could partially offset the negative impact.
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