Finance

Financial authors Duguid and DiNapoli on StoneMor Partners
Finance

Financial authors Duguid and DiNapoli on StoneMor Partners

A couple of weeks ago (byline May 17)  financial writers Kate Duguid and Jessica DiNapoli wrote a piece that was picked up by Reuters that you can read here.  The article concerns the financial wherewithal of United States funeral home and cemetery operator StoneMor Partners LP. From our point of view, it is a very good article and gives a clear and concise picture of what CEO Joe Redling is up against as his team tries to turn StoneMor into […]

Foundation Partners divests location
Finance

Foundation Partners divests location

It was announced on Friday in this article that the Shaw & Sons Funeral Home of Yakima Valley, Washington, was under the ownership of Jamin and Kara Mohler.  According to Jamin Mohler who stated, “Shaw & Sons has once again become a family-owned, local, neighbor-serving-neighbor funeral home”. The funeral home was started in 1899, and is celebrating its 120th year of business in the Yakima Valley this year.  The article states that in the late 1980’s the funeral home came […]

Security National Memorial segment increases revenue by 15%
Finance

Security National Memorial segment increases revenue by 15%

Security National Financial Corporation, the Utah based financial and death care company showed a total company decrease in revenue for the 2019 1st Quarter as compared to the same quarter in 2018.  You can see their 1st Quarter report here which was made public on May 16. However, even as the company experienced a decrease in total revenue and income they did show solid year over year gains, both in revenue and earnings, in their Memorial segment, which consists of […]

Casket companies report sales . . .the slide continues
Finance

Casket companies report sales . . .the slide continues

Earlier in May both of America’s leading casket companies reported their 2019 fiscal year 2nd quarter financials.  Those companies, Hillenbrand, which is the parent company of Batesville Casket Company, and Matthews International, which is the parent company of Aurora Casket Company, reported declining sales of caskets.  You can see Hillenbrand’s 2Q report here and you can see Matthews International’s 2Q report here. Here are some of the things that were reported on Hillenbrand: Hillenbrand had revenue of $465 million for […]

Park Lawn reports 1Q 2019
Finance

Park Lawn reports 1Q 2019

It will come as no secret to anybody that Canadian funeral home and cemetery operator Park Lawn Corporation increased their revenue in the First Quarter of 2019 over that of the same period in 2018.  Due to the number, size, and scope of their acquisition activity it was not a matter of increasing revenue, it was a matter of how much. Park Lawn Corporation, in a press release that you can read here, announced that their 1Q revenues for 2019 […]

Dignity Plc reports fewer services, lower profits
Finance

Dignity Plc reports fewer services, lower profits

Great Britain’s leading purveyor of death care services reported that for the first 13 weeks of 2019 that they have had fewer services and lower profits than the first quarter of 2018.  In a statement very similar to first quarter United States public death care companies, Service Corporation International and Carriage Services, Dignity Plc said that deaths in Great Britain were down about 13% in 2019 as compared to the number of deaths reported in the first 13 weeks of […]

StoneMor announces 1Q Results. . .Sales decline, losses widen
Finance

StoneMor announces 1Q Results. . .Sales decline, losses widen

StoneMor Partners, the Pennsylvania operator of funeral homes and cemeteries announced First Quarter 2019 results last week.  The company, which is in what CEO Joe Redling says is an “operational reorganization” continues to see revenues lower and losses larger than the comparable quarter one year ago. For 1Q 2019 revenues amounted to $71.5 million as compared to $77.9 million in 2018.  The net loss of the company for 1Q 2019 was $22.5 million as compared to $17.9 million in 1Q […]

Park Lawn makes another splash
Finance

Park Lawn makes another splash

Toronto based funeral and cemetery services provider Park Lawn Corporation announced last week that they have entered into agreements to acquire the assets of Horan & McConaty Funeral Services and the assets of the Baue Funeral Home Company.  The press release and more information that you can read from Yahoo Finance here, indicate that the purchase price of the two operations will total approximately $101.5 million in U.S. funds. “The acquisitions of Horan and Baue are a unique and extremely […]

Park Lawn Corporation moves into St. Louis market
Finance

Park Lawn Corporation moves into St. Louis market

In a press release out of Park Lawn Corporation headquarters in Toronto, Ontario, today, the company announced that it had acquired the assets of two-location funeral business John L. Ziegenhein & Sons Undertaking, Inc.  According to the press release that you can read here, the Ziegenhein Funeral Homes were acquired for a purchase price of US$4.2 million. Andrew Clark, CEO of Park Lawn commented, “The addition of Ziegenhein Funeral Homes is an excellent opportunity to further expand our existing footprint […]

Carriage Services 1st Quarter — Total Revenue Drops
Finance

Carriage Services 1st Quarter — Total Revenue Drops

Houston based funeral home and cemetery consolidator and operator Carriage Services reported its 1st Quarter 2019 results yesterday.  Their report somewhat parroted industry leader Service Corporation International’s report from a week ago in that “Same Unit” revenues dropped.  In Carriage’s case, however, even with new acquisition revenue added in, their 2019 revenues of $69.1 million was a 5.9% decrease in total revenue as compared to 2018’s 1st Quarter revenue of $73.3 million. You can read the press release from Carriage […]