Service Corporation International (SCI) operates over 1500 Funeral Homes and over 400 Cemeteries according to their website.
The largest funeral corporation in the United States issued it’s 4Q report yesterday.
It was good news for lower average funeral cost.
“It is clear 2009 will be a challenging year for both SCI and the entire global economy.
Comparable funeral services performed in January and February of 2009 were significantly lower as compared to the prior year. Additionally, we continue to see a difficult economic environment for the consumer and uncertain financial markets which will reduce anticipated earnings in 2009 compared to 2008. Check out the story here.
At finance.yahoo.com it was reported.
“Cemetery operations were more susceptible to economic and financial market conditions, with comparable gross profit decreasing $28.4 million or 59%, driven by lower preneed sales, lower trust fund income recognized and less cemetery property construction revenue.”
Cemetery operations income has fallen by over 50%. What this means is people are not buying Burial Property, or doing traditional funerals as they have in the past.(#of Funerals down).
Continual reports in the press indicate people are turning to cremation. Cremations are far less profitable for corporations and funeral homes than a traditional funeral.
Cremation is less expense for the consumer. It allows more money to
Cremation brings down the average cost of a funeral
go to the living. It brings down the average cost of a funeral.
Funeral Cost/Funeral Industry Blog by Your Funeral Guy.
Note: I have declared the average cost of a funeral in 2009 to be $8500.00 USD. It seems now everyday this figure is being reduced,
More information on SCI or Service Corporation International.
According to Hoovers.
Service Corporation International (SCI) is to death what H&R Block is to taxes. SCI, the largest funeral and cemetery services company in North America, operates…. funeral homes… cemeteries in 40-plus US states, the District of Columbia, Puerto Rico, Canada, and Germany. Services include embalming, burial, and cremation. The company also sells prearranged funeral services, caskets, burial vaults, cremation receptacles, flowers, and burial garments….
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