Scott Schneeberger
Oppenheimer & Co. Inc., Research Division

Good afternoon, everyone. I'm Scott Schneeberger, the senior business services analyst at Oppenheimer. Thank you all for joining us today. It's our pleasure to have from Service Corp, Senior Vice President and Treasurer, Aaron Foley, to speak on the company's investment story. We're drawn to Service Corp's leading position in the funeral services and cemetery offerings industry, its opportunity to capitalize on the favorable demographics of an aging baby boomer population and its strategy of providing preneed contracts to gain advanced market share and garner a backlog to build its trust-owned portfolio.

We'll be using the fireside chat format today. I'll ask Mr. Foley some high-level questions upfront to get us an overview of the business. And later in the session, I'll facilitate audience questions. So getting started, Aaron, could you please discuss your overall business model and strategy?

Aaron Foley
Senior VP & Treasurer

Sure thing. Thanks, Scott. Thanks for having me. As you mentioned, we are North America's largest death care provider. We've got about 1,500 funeral locations, 500 cemetery locations. On the funeral side, I would say that generally, there are low barriers to entry on the funeral side. There are probably close to 20,000 operators in that space. We've got about 12% to 13%, I'd say, by revenue market share on the funeral side. Conversely, on the cemetery side, the 500 cemeteries that we have, high barriers to entry on that side. We're probably closer to 28% to 30% by revenue market share. And so combined, we have about 18% revenue market share in the death care space.