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Is Funeral Home Chain SCI's Growth Coming at the Expense of Mourners?
In the death-care industry, as practitioners call it, SCI casts a long shadow. Based in Houston and publicly traded on the New York Stock Exchange (NYX), it operates more than 1,800 funeral homes and cemeteries in the U.S. and Canada. It has 20,000 employees and a market capitalization of $4 billion. For 40 years, SCI has gobbled competitors as the pioneer consolidator of a fragmented industry.
Service Corporation International corporatized death, driving growth through everything from aggresive acquisitions, volume pricing on caskets and embalming fluid, a “strong flu season,” and pre-selling over $7.5 billion worth of burials, Bloomberg Businessweek reports.