Service Corp.: Visitations at SCI’s locations: April up from March but worse than seasonal

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Service Corp.: Visitations at SCI’s locations: April up from March but worse than seasonal

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Service Corp.

Visitations at SCI’s locations: April up from

March but worse than seasonal

Reiterate Rating: BUY | PO: 98.00 USD | Price: 78.28 USD

Worse April; Q2 tracking down 6% y/y 15 May 2026

As per Placer.ai, the average daily visits at Service Corp.’s (SCI) locations grew 1.5% Equity

sequentially in April, worse than historical trends (2017-2019) but solid. This confirms

comments from SCI that the activity around the Ching Ming festivities in March-April Joanna Gajuk

was solid. May is a more important month since historically, the growth in May is more Research Analyst

BofAS

robust than the sequential improvement in April visitations. We reiterate our Buy rating +1 646 855 3961

as we view SCI as a pure play on aging demographics (no reimbursement exposure) with joanna.gajuk@bofa.com

cash flows/ capital deployment upside. Kevin Fischbeck, CFA

Research Analyst

+1 646 855 5948Visits/day +2% m/m in April, worse than historical trends kevin.fischbeck@bofa.com

The avg visitations per day increased +1.5% m/m in April 2026, worse than the +3%

Joaquin Arriagada Martinez

m/m average growth in 2017-19 (Exhibit 8). Research Analyst

Q2 visits tracking -6% y/y, worse than -4% y/y in Q1 +1joaquin.arriagadamartinez@bofa.com646 855 1654

Based on the April data, the Q2 traffic is tracking down -6% y/y. If this trend persists, it Katie FitzGerald

would be a deceleration from -4% y/y in Q2. ResearchBofAS Analyst

+1 646 556 2930

Q2 trends in CA better than SCI’s avg katie.fitzgerald@bofa.com

Visits per day in California (CA) increased 5% m/m in April 2026, better than +1.5% m/m

for all SCI’s locations. So far in Q2, visits declined by -5% y/y in CA, better than -6% y/y