Service Corporation (SCI) Presents at Raymond James North American Equities Conference (Transcript)

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Service Corporation International (NYSE:SCI) Raymond James North American Equities Conference Call September 12, 2017 8:55 AM ET


Tom Ryan - CEO

Eric Tanzberger - CFO


Unidentified Company Representative

So, I’m very pleased to have Tom Ryan and Eric Tanzberger from Service Corp here. Tom is CEO and Eric is CFO. And I think Tom is going to present first.

Tom Ryan

Thank you everybody for being here today, we appreciate it. You’ll notice the forward-looking statements. I won’t reiterate that. And we’re going to start off today -- I’m going to present on the business overview, talk about some of our core strategies. Let me give you some observations as we think about the long-term nature of this business and returns that we ought to be able to achieve.

So, first slide we’ll get into and this gets into the industry itself. You’ll notice the industry is not big; it’s probably about $19 billion and think about the U.S. and Canada where we compete. If you take that share of the pie as big as we are and here that we are, we are still only 16% of the market. Another four consolidators, some public, some private encompass another 5%. And so, you can begin to understand, there is still quite a bit of business that can be consolidated, albeit we probably wouldn’t want to -- there are certain segments we probably wouldn’t want to consolidate into but ample opportunities for us to grow through acquisition or new build. We have got about $3 billion in revenues; you can see the market cap is about $6.6 billion. The all important $320 million of free cash flow, so that’s after CapEx. And we can deploy that in the highest possible returns for our shareholders, and there is a plethora of ways we do that that we’ll get into.

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