Service Corporation International (NYSE:SCI) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 09:00 am ET

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Service Corporation International (NYSE:SCI) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Executive
Eric D. Tanzberger

with other working capital sources. Furthermore, our expectations for maintenance and cemetery development capital spending for the year is now expected to range from $165 million to $195 million with the same midpoint we've discussed before of $180 million. The underlying stability of our cash flows in the funeral cemetery business as well as our strong financial position really gives us the confidence and the flexibility to also continue being opportunistic in deploying capital for the remainder of the year.

We continue to seek value-enhancing acquisition opportunities. I believe for the year, we will end up in a $50 million to $100 million spend range that we normally target for business acquisitions. However, we could be at the lower end of this range based on recent activity. We also expect to continue deploying capital towards new funeral homes and other expansion opportunities to further grow our business in our target markets.

So in closing, I'd like again to thank our nearly 25,000 team members for their dedication and perseverance through these challenging times. We will continue putting the needs of our associates and the needs of our businesses first to again safely navigate this pandemic. We believe this approach is in the best long-term interest of our Company and all of our stakeholders. And as we reflected, all that has been accomplished by our teams in the first half, we're excited about the momentum we have going into the back half of this year.

So with that, operator, that concludes our prepared remarks and we'll now go ahead and open the call up for Q&A.