Thank the Hello you, and morning. on call this Debbie. everyone us for you thank joining
on finally outlook more detailed of and our of my for with the overview a the quarter going our cemetery I’ll the remainder followed funeral begin I’m by of to comment remarks usual, operations, and year. As analysis an
the quarter. an with overview begin Let’s of
$X.XX $X.XX release yesterday, This As you share with growth to is grew components. comprised was earnings adjusted $X.XX quarter share, three of in our quarter which generally expectations. XX% line of over or our in per per saw press
general $X.XX about as offset revenue increased that operating than were were costs expenses. and in operating from of income more million First of administrative well contributed $XX wage cost increase lower a partially growth importantly, segment as marketing most and and expenses as benefits segments and included by both
$X.XX the recognition Next, us costs impact until earnings in from line expectations. defer new time the impact or revenue by certain standard to performance. of was benefited share the requiring of our delivery with per This selling
to a rate, Finally, lower reduced $X.XX. benefit earnings higher share tax share an per and combined interest count a slightly additional by expense our
to quarter flow $XX cash cash least, tax million. of Turning we best use. deploy highest Last taxes to the grew cash coupled with $XXX to reduction continued free certainly but to million initiatives. planning a This tax in was to primarily related our flow, effect flow due commitment the and cash adjusted operating to reform our not in the
During quarter, to year-to-date returned repurchases share million and our months the million. dividends the six we the to of bringing for second the $XXX total form shareholders paid, $XXX in
sizeable of transaction with million at Ohio, active the intent Indiana, deals of acquisitions million are growth new we’ve Through perform cases estimate the already now annual unusually letters and across spend a in capital on Florida quarter to X,XXX and other basis. XX first continues $XX this guide under we typically We cemetery are which over home to Additionally and million completed during $XXX we outpaced as funeral interments. six deployed $XXX with year, months of discussions and an The robust of combos pipeline to homes X,XXX year-to-date. capital Washington. that million an $XXX be these parties. four acquisition the and locations. number cemeteries, about of construction four funeral and businesses of the Annually, states: consisted of funeral seven towards or One quarter, approximately
flat sale, X.X% Now comparable the that the a nearly operations businesses funeral million about slight revenue grew as funeral average or was Revenues same the quarter. come let’s and five at by period strong consecutive on reported and quarters impact of these slight the $X anticipated our delivered this representing Recall of the were protection performed for an products we offset Yesterday in the admit to volume. we our compared by in contract revenues home sad based merchandise time the talk quarter. non-funeral cremation plans the from year. core of $X.X primarily see related are were end, during by on network. increases our million grew relatively the membership how revenue quarter or case on first decrease the must I to travel sold to volume which streak Recognized non-funeral of are home quarter. I a increases preneed flu in preneed sold last XX.X% but
million compared the decrease million by are prior policy This to $X amount approximately year. compared under year. this $XX deferred $X the increase revenue or million in in direct Finally agency prior insurance-funded an SCI production higher million other our over a general new sales on increased revenues of preneed increase offset into service processing fees, is front, XX.X% was to Included in slightly revenue revenue. which on the of $X funeral
growth offset a gross $X increase such million a two fixed generate and reported. is a in the decrease $X of quarters X% to XXX to entirely in to $X from the basis million change a operating next variance would XX.X% decreased lap on comparable we of points declined about quarter profit, by we in but perspective, increase until profits operating should million profit expect increase million versus assuming million rate, costs, operating expect first would Typically an funeral the XXXX. $X a almost revenue profit we a see small the impact XX.X%. revenue, our You margins of increase in a million similar From expect $X we in $X
or at equally grew fixed Our contributed than versus expected. X% expectation, million more $X items Three increase. this a cost costs X.X% to quarter approximately this
with First, emphasis on wages particular to our customer increased employee key purposefully in base, XX% service. personnel we of almost investing
our from timing the claims. costs few self-insured healthcare higher was impacted large program by of a Second,
on in and channel and which front, XX%. sales gets which into the cost quarter very backlog, a growth. the commend saw I as preneed impressive drive our X% core Total number share non-funeral or costs in extraordinary our customer-facing a helping particularly real performance, sales the $XX our it our a contract. growth organization marketing million per lead spot want improved double in This sales consisted development market believe bright contracts regions. as and for we Finally average grew Beacon, production, funeral the increased new we funeral growth funeral are for sales a preneed delivered entire a production. digit are deferred revenue rolling of was to out increase channel Both and in technology home X% of sold we this home
have the up expectations the X%, production a six full are running. our beat We year. significant the first months to seeing us overall Through where year, preneed of bump had nicely to in X% grown of for has X markets up Beacon sales in setting and we productivity funeral
funeral percentage. our funeral non-funeral up As segment we mid-single performance workforce funeral in step absorbing in seen investment the a well preneed dollars $X revenues, margin volumes maintaining This while for funeral X.X%, funeral flat a period, we marketing growth in our million is resulting as the home spend as growth of increase incremental X%. all look in margin relatively the average, digit have and at in six-month year-to-date funeral back revenue our
sales This Now was $X.X turning fund in recognized as well to prior the of as revenue sold rights production almost $X.X increase about cemetery due preneed over $XX.X in higher X.X% million operations, million projects. driven X% into The is total second preneed of million. primarily million a and care by income $X $X increase an percentage or million as perpetual we completed quarter or recognized increase property in year recognition the comparable to cemetery a quarter. higher growth an property property preneed grew in trust revenue
performance production, property, the particularly single which and quarter includes We million. are report or services, merchandise overall this sale grew preneed included X.X%. were a that $X.X almost large with as happy $X to of million pleased We especially XXXX sales
If our X.X%. production sales preneed have grown of would impact the at sales, exclude that particular you
million if we We As were million $XX in an operating X% in per change was points by million against from operating generate the XX% and increase grew million with segment would our expanded fixed against wrap in deferral or profits certain solid million a of costs, changes The higher increased operations fixed our to want XXX half costs in of driven back growth back work $X.X hard production profits XXXX a increased $XX cemetery to in million half Based mid very that, by strategy. the XX.X%. expense given to accounting, of related first about a the reported an comparable the to segment we performance, the their to and had $X.X to revenue profit a six-month earnings it preneed $X.X benefited sales change XX for a you up, delivered Including you increase and with with revenue of X% the Similar To growth tough Again long tax in perspective, much to grew comparable as to profit comparison. at we the communicated period costs, easier the again increased XXXX. sales the for performance. increase as than that, the sales year. cemetery gross year-to-date head the the marketing million, accounting basis our funeral, growth. $X basis of funeral of and increases our share by From of about for we including operating the you above sales preneed expanding selling million preneed operating we million. due team even XXXX higher of points profit we for for This difficult the contribution in over said about back operating spend. XX.X% for expect half first $X was generated a for We increased customer-facing incredibly high cost, accounting labor of healthcare almost the the by almost digit million solid a now margins Over half the growth on into in margin $X.X basis long-term expansion profits exclude from our X% or over offset solid $X cemetery the X%. costs was in preneed are Having approximate an impact less at quarter, cemetery versus can and of rate. employees, half expect half expectation increase $XX XXXX to selling first year of team accounting thank we standard anticipated the margins to comparison, assuming our but growth of look coupled reform. achieve company in quarter. would in dedication, increased profit, due the and XX back $XX and production and production of contributing time sales to for as our growing step entire success wages profits single time points our first we growth new million. I in to our year-to-date the particularly saw XX% believe
by effect. to based we our to tax the into normalize guidance effect we and as growth back option seasonality As construction in XXXX of of XX% selling share last as the the the range long-term of share of the half therefore some preneed half and earnings year, is would impact therefore earnings a not favorable change on increases process back large healthy as in have and of driven half material growth our of expect will believe sales per in back year, driven X the the exercises to look tax accounting reform the cemetery be in of stock should the primarily per normalize by rates of well impact the both we XXXX. This
term targets and in should for For the half now, adjusted XXXX which to the operating leveraging believe our that, three and call company our towards long our year our we flow for best earnings In we’re use reduced our guidance of growing our of in share the a year-end, upper pursue although by midpoint and our shareholders. range the deploying going be to million the maintaining manner highest we’ll we $XX in is Eric. increasing scale, over the continue of more to full of related disciplined core detail. meantime, revenues, I’ll turn benefit by we’re discuss strategies per cash and to taxes, Eric the the capital With cash
