Finance

Funeral Director Life ratings revised upward
Finance

Funeral Director Life ratings revised upward

In this release on Business Wire from the A.M. Best Company issued last week, the insurance ratings firm “has revised the outlook to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-term ICR) of a- of Funeral Directors Life Insurance Company (FDLIC) of Abilene, Texas.” At the same time the FSR and the ICR of FDLIC wholly owned subsidiary, Kentucky Funeral Directors Life Insurance Company (KFDLIC) of Lexington, Kentucky, […]

Service Corporation gets some positive spin from Yahoo Finance
Finance

Service Corporation gets some positive spin from Yahoo Finance

Service Corporation International (SCI), the publicly traded acquirer and operator of funeral homes and cemeteries in North America is poised to report its 3Q 2019 results on October 30.  Prior to that happening, we noticed this short report in Yahoo Finance entitled, “Will Service Corporations’s strategies help maintain momentum?”. The Yahoo Finance article concludes that SCI is “gaining from its endeavors and demographic trends”.  It mentions how the company is aimed at utilizing scale and efficiently deploying capital to move […]

Carriage Services announces Buffalo, New York acquisition
Finance

Carriage Services announces Buffalo, New York acquisition

Carriage Services, the public company death care consolidator and operator based out of Houston, Texas, announced last week that they had made a major acquisition in the Buffalo, New York, market.  In this press release you can read from Yahoo Finance, the company announced that they had acquired the four locations of the Lombardo Funeral Homes in the Buffalo market. According to the release, the firm is a 3rd generation firm, operated since 1984 by Joseph P. Lombardo, the grandson […]

Matthews Aurora spins off Canadian facility
Finance

Matthews Aurora spins off Canadian facility

In this press release issued by Victoriaville & Co. of Edmunston, New Brunswick, Canada, last week you can read about their acquisition of  Alliance St-Laurent Casket, previously a subsidiary of Matthews Aurora Funeral Solutions. According to a quote from Steve Gackenbach, Group President of Matthews Memorialization, “This divestiture represents a manufacturing consolidation as part of our integration of the Aurora Casket Company.  We continue to invest to deliver world class manufacturing capabilities and superior product quality at our core manufacturing […]

Catching up with Tulip Cremation
Finance

Catching up with Tulip Cremation

Last spring Funeral Director Daily published an article on the inception of San Francisco based Tulip Cremation.  You can read that article here.  In it, we had talked that we had been at an industry get together at that time and a lot of talk revolved around how Tulip Cremation, and its internet direct to the consumer business model, would play out. As we wrote in that article, Tulip Cremation had launched and their web-site showed that they were operating […]

StoneMor keeps moving towards turnaround
Finance

StoneMor keeps moving towards turnaround

StoneMor Partners, L.P. issued a press release the other day expressing some of the movements they are making as they execute their self-termed “turnaround” of the company.  As you may know, StoneMor Partners operates 321 cemeteries and 90 funeral homes and has incurred several consecutive quarters of losses in their operation.  You can read their press release here: In essence, here are some of their moves as they continue to execute their plan to bring the company back to business […]

What’s up with Hillenbrand
Finance

What’s up with Hillenbrand

As a saver I keep what investments I have in separate buckets.  I have a bucket for my 401k, I have a bucket that generates current income, and I have a bucket where I hold stocks with the philosophy that these stocks “will be worth more in ten years than they are worth today”.  The idea of that last bucket is stocks that have been bought to hold and grow and no tax (except for dividends) is required on them […]

The Federal Funds rate and your funeral home
Finance

The Federal Funds rate and your funeral home

Next week the United States Federal Reserve Board will meet in one of their eight yearly meetings.  This group of monetary experts meets to discuss our country’s monetary policy and set the interest rate that the government charges banks for government funds.  Virtually all other rates in the world are then set based on what is referred to as the “Federal Funds Rate”. While it is national and international news each and every time this board meets, the actions that […]

Foundation Partners Group keeps rolling along
Finance

Foundation Partners Group keeps rolling along

Foundation Partners Group (FGP), headquartered in Orlando, Florida, announced earlier this week the acquisition of the three location Beers & Story Funeral Homes in Western Massachusetts.  Here is the FGP press release pertaining to the acquisition. Beers & Story is a three generation firm that can trace its roots to the early 1900’s when Bert Beers opened the Bert L. Beers Funeral Home in Palmer, Massachusetts. A quote from the press release goes, “With regulations and HR issues getting more […]

Foundation Partners adds another Colorado location
Finance

Foundation Partners adds another Colorado location

The state of Colorado has been a hotbed of funeral home and crematory acquisitions in the last couple of years.  Many of  the larger players in the death care space, Service Corporation International, Park Lawn Corporation, and Foundation Partners Group, have all made acquisitions in the state during that time frame. It was announced on Monday that Foundation Partners Group was making another acquisition in the state when a press release, that you can read here, was released by the […]