Finance

Matthews announces investment sale
Finance

Matthews announces investment sale

On Tuesday global death care company Matthews International announced a sale, that was effective on June 26, of a non-controlling ownership interest in a pet cremation services business.  According to this release from Matthews, the company sold its interest for a total of $57.2 million. That $57.2 million was to be paid to Matthews International with $42.2 million in cash and another $15.0 million in preferred stock of the company, which was not named.  Again, according to the release, Matthews […]

Goetz to leave Carriage Services?
Finance

Goetz to leave Carriage Services?

This morning we noticed a news release from Market Exclusive that you can see here pertaining to a K-1 filing from Carriage Services.  The filing informed the public that effective June 26, 2020, President and Chief Operating Officer William W. Goetz had resigned from those positions at Carriage Services as well as had resigned from a seat on the Carriage Services Board of Directors. The filing states in part, “The resignation was not the result of any disagreement Mr. Goetz […]

Security National joins Russell 3000 and other Death Care News
Finance

Security National joins Russell 3000 and other Death Care News

Today’s afternoon edition of Funeral Director Daily brings you an update on death care public company Security National Financial Corporation (SNDC) and its inclusion into the Russell 3000 stock market index.  SNFC, which operates in the funeral, cemetery, cash assignment, and preneed portions of the death care industry was brought into the index as of Monday.  Here’s what SNFC President and Chairman of the Board Scott Quist had to say about the news,  “Security National has always strived to provide […]

Green, Dodds to lead Park Lawn into the future
Finance

Green, Dodds to lead Park Lawn into the future

In a press release from the company that you can read here, Park Lawn Corporation announced Monday that Interim CEO J. Bradley Green would have the interim tag removed and has been named Chief Executive Officer of the Toronto based death care company.  In the same announcement, Park Lawn’s Board of Directors announced that Jay Dodds would be named the company’s President and Chief Operating Officer. It was also announced that Green and Dodds would become members of the public […]

Investors still reluctant with death care stocks
Finance

Investors still reluctant with death care stocks

I happened to see that at the close of the markets Friday that funeral home and cemetery operator and consolidator Park Lawn Corporation’s stock closed down over 9% from the previous day.  I looked for news on the company but could not find anything in the public world that would cause a precipitous drop in valuation like that. What it did cause me to do was take a look at all the other death care stocks that comprise the Funeral […]

Random thoughts on retail sales, funeral home restrictions, revenues, and acquisitions
Business Finance

Random thoughts on retail sales, funeral home restrictions, revenues, and acquisitions

Where were you when you first realized that the coronavirus may be something serious and you changed your course of habits to manage your lifestyle more safely?  Angie and I were on a scheduled flight out of Honolulu returning to Minneapolis on February 1, the day after President Trump had instituted the flight ban from China.  I remember wiping our seats down with clean wipes. . .something I had never done before. So, we have now had a little over […]

Foundation Partners adds to Florida Gulf Coast operations
Finance

Foundation Partners adds to Florida Gulf Coast operations

In this release from Foundation Partners Group you can read about their new acquisitions on the west coast of Florida.  The Orlando based company announced on Wednesday, June 10, that they had acquired two firms with common ownership in that area. It was announced that Foundation Partners Group (FPG) acquired the Jennings Funeral Home and Crematory in Sarasota, Florida, as well as Gulf Coast Cremations in Sarasota and Venice, Florida.  FPG commented that the acquisitions “adds to the growing network […]

Security National reports revenue up, income down in Q1 2020 results
Finance

Security National reports revenue up, income down in Q1 2020 results

Back on May 18,2020, Security National Financial Corporation (SNFC) reported its 1st Quarter 2020 results that encompassed the period from January 1, 2020 to March 31, 2020.  The results, which you can see in a press release here, showed that the company increased revenues in the period compared to the prior year’s revenue by 29.2% but after tax earnings dropped 26.2%.  Net earnings per share for the quarter were $0.08 as compared to the 2019 1st Quarter net earnings of […]

Will StoneMor go private?
Finance

Will StoneMor go private?

This press release from Globe Newswire indicates that the StoneMor, Inc. has received a “Going Private” proposal from Axar Capital as of May 24, 2020. In the proposal, Axar Capital Management, which is an approximately 52% owner of StoneMor, Inc., has proposed paying $0.67 per share to purchase all of the outstanding shares of the company’s stock that it does not presently own. This is an interesting development.  But, one that is not totally unforeseen as Axar has, from time […]

Carriage Services reports First Quarter 2020
Finance

Carriage Services reports First Quarter 2020

A short time ago Carriage Services, the Houston, Texas, based funeral home and cemetery operator announced they would delay their First Quarter 2020 financial results so that they could also report cornavirus related April results and May trends.  It is interesting to note that their First Quarter report that you can access here is titled, “First Quarter and April 2020 Results”. Here is what President and Chief Operating Officer Bill Goetz did say about the first quarter.   “Our performance through […]