
UPDATED 2025 GUIDANCE
The $3.85 midpoint of our annual guidance range for 2025 detailed below is confirmed with a more narrow range expected for earnings per share of $3.80 to $3.90. Our cash flow outlook has increased to a range of $910 million to $950 million due to lower cash taxes and working capital timing. Our outlook for diluted earnings per share from continuing operations excluding special items, at the midpoint of our guidance range, is anticipated to be within our expected long-term growth framework of 8%-12%.
| (Dollars in millions, except per share amounts) | 2025 Outlook | Revised 2025 Outlook | |||||
| Diluted earnings per share excluding special items (1) | $3.70 - $4.00 | $3.80 - $3.90 | |||||
| Net cash provided by operating activities excluding special items and cash taxes (1) |
$1,025 - $1,085 | $1,045 - $1,085 | |||||
| Cash taxes expected in 2025 (at the midpoint of Diluted earnings per share guidance) |
$145 | $135 | |||||
| Net cash provided by operating activities excluding special items (1) | $880 - $940 | $910 - $950 | |||||
| Capital improvements at existing field locations | $130 | $130 | |||||
| Development of cemetery property | $160 | $160 | |||||
| Digital investments and corporate | $25 | $25 | |||||
| Total maintenance, cemetery development, and other capital expenditures (Maintenance capital expenditures) |
$315 | $315 | |||||