Finance

Foundation Partners adds locations
Finance

Foundation Partners adds locations

In a press release issued last week Foundation Partners Group announced that it had purchased a group of funeral and cremation operations.  The group consists of three business, that were owned by one party,  known as Advent Funeral and Cremation Services with locations in Falls Church, Virginia, and Lanham, Maryland.  Also included in the purchase was Rapp Funeral Service in Sliver Spring, Maryland, and Chesapeake Crematory in Beltsville, Maryland. You can access the Foundation Partners press release here. According to […]

StoneMor announces California combo sale
Finance

StoneMor announces California combo sale

We said almost two years ago that the best way for funeral home and cemetery operator StoneMor Partners L.P. to right their ship was to divest themselves of some properties and use the cash proceeds to pay down debt so that they can get to a position where they are operating in a financial positive manner. Yesterday they made an official announcement of what many of us expected to be coming.  StoneMor Partners L.P. announced the agreement to sell the […]

Carriage makes big acquisition, announces new President/COO
Finance

Carriage makes big acquisition, announces new President/COO

Carriage Services, the Houston based funeral home and cemetery operator made a big announcement after business hours on Monday.  The company issued a press release which highlighted not only the acquisition of, what they say in the release is the largest by a combined revenue definition, acquisition in their 28-year history, but also announced personnel additions as well. In the release which you can read here, Carriage Services announced the acquisition of the Fairfax Memorial Park and Funeral Home in […]

Matthews reports year end. . .Memorialization sales increase
Finance

Matthews reports year end. . .Memorialization sales increase

Matthews International reported their 4th Quarter and 2019 fiscal Year Sales last week.  The Pittsburgh based public company includes in its portfolio, as one of three business segments, a Memorialization unit that includes Matthews Cremation, Aurora Casket, and Star Granite which are of interest to the death care industry. You can access the Matthews International 4Q and Fiscal 2019 report here. For the 2019 year Matthews International reported sales of $1.54 billion as compared to 2018 total sales of $1.60 […]

Park Lawn executives comment on 3rd Quarter
Finance

Park Lawn executives comment on 3rd Quarter

Last week Park Lawn Corporation CEO Andrew Clark and CFO James Leeder commented on the company’s 3rd quarter results and also took questions from analysts about the company’s performance.  You can read the transcript here.  I have, however, taken the liberty to pull out some of the comments that we thought would be of the most interest to our readers and have made them available.  These questions and answers deal with the purchase of 10 properties from The Journey Group, […]

Corporate News
Finance

Corporate News

This afternoon we will bring you a couple of items that recently appeared in print publications about public companies in the death care business. From the Philadelphia Business Journal we bring you this article on StoneMor Partners.  It is entitled, “StoneMor slims down executive ranks, plans divestitures for bid for profitability”.  We believe it is a good article that highlights what has dogged StoneMor Partners for the past decade and what new management is doing to try to become profitable. From […]

Park Lawn Corporation reports 3Q 2019
Finance

Park Lawn Corporation reports 3Q 2019

Last week Canadian based public company funeral home and cemetery operator Park Lawn Corporation released its 3rd Quarter and 9-month results for 2019.  You can see them here. The fast growing company reported 2019 3Q revenues of $66.5 million as compared to 2018 3rd Quarter revenues of $43.2 million. . .an increase of 54%.  They also reported 9-month 2019 revenue of $175.3 million as compared to $110.7 million for the same period in 2018. Park Lawn also noted that the […]

Batesville reports that 4th Qtr sales are flat
Finance

Batesville reports that 4th Qtr sales are flat

Hillenbrand Industries, parent company of Batesville Casket company reported earlier this week that Batesville’s fiscal 4th Quarter sales (July, August, September) were essentially flat from the prior year.  You can see Hillenbrand’s 4th Quarter and Year End report here. Hillenbrand Industries reported quarterly revenue of $486 million — an increase over 4Q 2018 of 2%.  They also reported that the growth was spurred by an increase of 3% in their Process Equipment Group while Batesville  revenue was “essentially flat”.  Of […]

Acquisitions keep on rolling around the world
Finance

Acquisitions keep on rolling around the world

There are a lot of reasons that businesses, including funeral homes, change operational and ownership hands.  Sometimes a single proprietor gets a price that he just can’t turn down.  Sometimes a single proprietor just wants to retire and either has no family to go into the business or family that wants to pursue other goals and ambitions. Sometimes the transaction is spurred by the acquiring company that wants to get larger and has ideas where, through operational efficiencies and promotion,  […]

StoneMor Partners reports 3rd Quarter
Finance

StoneMor Partners reports 3rd Quarter

StoneMor Partners L.P. reported their 3rd Quarter and 9-month 2019 numbers last week and with it showed significant progress in their attempt at a transformational turnaround of the company.  In brief, StoneMor reported that revenues are stabilizing, that they are cutting recurring expenses, and that they have made progress on a divestiture process that will, more than likely, make their company smaller and more focused. You can see a copy of the report here. From the operations side of the […]