Service Corporation International at Raymond James Institutional Investors Conference Transcript
It's a good story. I'm John Ransom. Happy to have Eric and Aaron from SCI. Just a couple of points if you are not following this one minute-by-minute. Long-term, the company set up a plan in 2014 to grow free cash flow per share 8% to 12%. If you look at the P&L, there is a permanent difference between free cash flow and earnings related to land amortization, which we can talk about. I think this year is an interesting year. It's a little choppy because of, we didn't have much of a flu season. So what's good for America is bad for Service Corp in this regard. And secondly, there is some noise around taxes.
On the other hand, we think the company continues to have a huge competitive moat, and in particular, they're rolling out a new sales tool. It's been a little bit more delayed than what we thought, but the new sales tool just sort of extends the advantage of the -- to the 80% of funeral homes in the U.S. that are -- don't have websites, don't have preneed
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