Service Corporation International,NYSE:SCI has had poor numbers for the last year. Blaming poor financials on down turns in the numbers of deaths is truly sad. Saying that the cause of financial trouble is the number of births between 1932 and 1939 is borders on the laughable and sad. Blaming poor numbers on medical advances is just as sad. One has to wonder if the CEO Tom Ryan, Should be taken seriously.
This executive did admit that funeral volumes and financial reports will take a hit in the next several years.
“Houston-based SCI was so puzzled by the downturn that it hired outside consultants to find out why. The research is not complete, so the company won’t release it yet, but chief executive officer Tom Ryan told a recent conference call with analysts that there appear to be two major factors: medical advances, and a dip in the number of births between 1929 and 1936, the deepest years of the Depression.
“We know those two events are going to put downward pressure on the numbers of deaths in our relevant markets,” Mr. Ryan said. “We’re operating under the assumption that we’re probably going to see down comparable [funeral] volumes generally for the next few years.””-via Globe and mail.com
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