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& SERVICE CORPORATION INTERNATIONAL ANNOUNCES SECOND QUARTER 2021 FINANCIAL RESULTS AND INCREASES 2021 GUIDANCE EXHIBIT 99.1 Conference call on Thursday , July 29 , 2021 , at 8:00 a.m. Central Time . HOUSTON , Texas , July 28 , 2021 ... Service Corporation International ( NYSE : SCI ) , the largest provider of deathcare products and services in North America , today reported results for the second quarter of 2021 . Tom Ryan , the Company's President , Chairman , and Chief Executive Officer , commented on COVID - 19 and second quarter results : " Today we are pleased to report earnings per share of $ 0.92 and net cash provided by operating activities of $ 192 million for the quarter . The $ 0.33 growth in GAAP earnings per share in the quarter was primarily driven by continued strength in comparable preneed cemetery sales production , which grew $ 94 million , or 36 % , during the quarter , driven by higher sales velocity , sales averages , and large sales activity . Additionally , comparable preneed funeral sales production grew $ 106 million , or 57 % , during the quarter . Based on our strong second quarter performance , we are raising the midpoint of our full year adjusted earnings per share guidance fifty cents to $ 3.35 and the midpoint of our adjusted operating cash flow guidance by $ 50 million to $ 737.5 million . This is the result of the continued strong performance of preneed cemetery property sales that we believe will remain strong through the end of 2021 coupled with strong funeral results driven by growth in the funeral sales average . These results are all made possible by our greatest asset , our 24,000 associates . Their health , safety , and well - being remains a top priority as our dedicated teams continue to provide essential services for our client families . I would like to thank all of the SCI family , particularly our frontline associates , for focusing on what we do best , which is helping our client families gain closure and healing through the process of grieving , remembrance , and celebration . " Second Quarter Highlights : Revenue grew $ 168 million over the prior year quarter to $ 988 million . Gross profit grew almost $ 50 million over the prior year quarter . GAAP earnings per share were $ 0.92 . Adjusted earnings per share grew $ 0.34 over the prior year quarter to $ 0.92 . Comparable preneed funeral sales production grew $ 106 million , or 57 % . Comparable preneed cemetery sales production grew $ 94 million , or 36 % . SECOND QUARTER SUMMARY Details of our second quarter of 2021 financial results and the unaudited consolidated financial statements can be found in the Appendix at the end of this press release . The table below summarizes our key financial results . ( Dollars in millions , except for per share amounts ) Revenue Operating income Net income attributable to common stockholders Diluted earnings per share Earnings excluding special items ( 1 ) Diluted earnings per share excluding special items ( ¹ ) Diluted weighted average shares outstanding Net cash provided by operating activities 245.8 Three months ended June 30 , 2021 2020 $ 987.5 $ $ $ $ $ 157.7 820.0 182.3 105.5 Six months ended June 30 , 2021 2,065.5 587.9 386.6 2020 TIT 0.92 157.4 0.92 170.9 192.2 0.59 104.9 0.58 179.7 184.3 1,623.0 334.1 187.4 2.25 1.03 385.3 183.5 2.25 1.01 171.6 181.6 489.8 $ 364.3 ( 1 ) Earnings excluding special items and diluted earnings per share excluding special items are non - GAAP financial measures . These items are also referred to as " adjusted earnings per share " . A reconciliation from net income attributable to common stockholders and diluted earnings per share in accordance with generally accepted accounting principles in the United States ( GAAP ) can be found later in this press release under the heading " Non - GAAP Financial Measures " in the Appendix at the end of this press release . Diluted earnings per share were $ 0.92 in the second quarter of 2021 compared to $ 0.59 in the second quarter of 2020. The current year quarter was impacted by a $ 5.2 million in loss on early extinguishment of debt , net , which was offset by a $ 5.5 million increase in net gains on divestitures and impairment charges . Diluted earnings per share excluding special items was $ 0.92 in the second quarter of 2021 compared to $ 0.58 in the second quarter of 2020. The growth of $ 0.34 is due to increased gross profit related to strong growth in cemetery recognized preneed revenue . Our current period results 1 Service Corporation International