t’s early April and most of the nation is locked down, but rather than log on for yet another video conference, Tom Ryan, the 54-year-old chief executive of Service Corporation International, America’s largest funeral home proprietor, agrees to meet face-to-face withat company-owned Earthman Hunter’s Creek Funeral Home a few miles from SCI’s headquarters in Houston, Texas.
Cremations had already been gaining in popularity and accounted for 56.8% of its services in 2019 versus 53.5% in 2017 up from about 30% twenty years ago. The COVID-19 death surge has created a mini-boom in demand for cremations because why have a funeral if no one can come? Pre-need sales are critical to SCI in part because they generate reliable cash flow which is held in trust for future services. Most of these funds aren’t recognized as revenue until they are needed, but SCI can – and does — use that money for working capital. At the end of 2019, SCI had a $12 billion backlog in future revenues, with much of it invested in portfolios containing everything from stocks and bonds to private equity.
But the business is changing, perhaps for good. Like most other funeral home operators, SCI now offers streaming services to accommodate grievers who can’t attend in person. They are trying other things too.
for SCI if the company can figure out a way to cash in on the inevitable memorial service boom that is bound to occur once the pandemic passes.
Majority of funeral homes in US are small family owned businesses, not focused on stockholder returns. Funeral professionals are caring for others with innovative ways to honor life lived given restrictions. There much good that funeral professionals are doing.
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GREETINGS TO THE WORLD BANYAK MANUSIA EKSPLOITASI SUMBER DAYA ALAM BESAR-BESARAN BISA MERUSAK EKOSISTEM, PERUBAHAN IKLIM, PANAS GLOBAL MUNGKIN SELEKSI ALAM, COVID JADI LEBIH KUAT, MENYEBAR KE DUNIA. PERLU PERUBAHAN SISTEM EKONOMI DI DUNIA LEBIH BAIK, ECONOMIC SUSTAINABILITY
Only when a person lives will he do business...Coronavirus has made human life a hell...It is the duty of all of us to save the lives of humans first...Because humans are dying in many ways other than Coronavirus at this time...People has many problems..Which cannot be ignored.
THEY MAKE IT UP IN VOLUME!!
The novel coronavirus has already killed 200 people in Texas, hospital and ICU admissions are grimly ticking higher—but the Service Corporation International, America’s largest funeral home proprietor, is quieter than usual