Finance

StoneMor Partners, Assurant file Earnings Reports
Finance

StoneMor Partners, Assurant file Earnings Reports

Both StoneMor Partners and Assurant filed earnings reports in the last couple of days.  Both companies are members of the Death Care Index  (DCI) of publicly traded companies. StoneMor, which has had permission to file some reports on a delayed term, filed their report for the three months ending June 30, 2018.  For that three month time period they report that they had revenues of $81.6 million and a 2nd quarter net loss of $17.0 million.  That compares on a […]

Matthews reports 1st Qtr 2019. . . . Memorialization segment increases sales
Finance

Matthews reports 1st Qtr 2019. . . . Memorialization segment increases sales

On January 31 Matthews International, parent company of Matthews Cremation and Aurora Casket, reported its first quarter of fiscal year 2019 which covers the period of October 1, 2018 to December 31, 2018.  You can read the press release from Matthews here. As a company the consolidated sales totaled $374.2 million as compared to $369.5 million for the same period one year ago.  Cash flow from operations was reported as higher than one year ago.  The Memorialization segment of the […]

Hillenbrand revenue up, Batesville revenue down, CEO Raver calls Batesville “Lean and Flexible”
Finance

Hillenbrand revenue up, Batesville revenue down, CEO Raver calls Batesville “Lean and Flexible”

Multi-faceted conglomerate Hillenbrand Industries, parent of death care company Batesville, reported higher revenue year over year for their 1st Quarter which ended on December 31.  Hillenbrand, as a whole, reported revenue for the quarter of $410 million which is 3% higher than one year ago.  Hillenbrand’s Processed Equipment Group (PEG) reported revenue growth of 7%. You can read a press release of the 1st Quarter results here. Hillenbrand also announced another acquisition in the manufacturing arena by announcing the completed […]

StoneMor receives financing, completes asset review
Finance

StoneMor receives financing, completes asset review

Yesterday StoneMor Partners issued a press release which you can read here.  In it they “announced a number of key financial and operational updates representing further steps forward in its ongoing turnaround effort.  These steps include a waiver and amedment of certain loan covenants, growth financing from its largest investor and the completion of an extensive review of its asset base.” Financing – in the release StoneMor announced that its largest investor, Axar Capital, has agreed to a credit facilty […]

Carriage Services Profit drops. . . management to fight back
Finance

Carriage Services Profit drops. . . management to fight back

Death care consolidator Carriage Services issued preliminary 2018 results on Wednesday.  You can read a press release from the company here. In those results the company announced that they had grown revenue year over year from $258.1 million in 2017 to an an unaudited estimate of $268.0 million in 2018.  That would be an increase of about 3.8%.  However, they also announced that they expect their 2018 profit to fall to about $11.9 million which is down from $37.2 million […]

Dignity PLC upgrades forecast on “Stronger than Expected” 4th Qtr
Finance

Dignity PLC upgrades forecast on “Stronger than Expected” 4th Qtr

In a brief update that you can read here, the United Kingdom’s largest funeral services provider issued a statement that says they expect profits to be higher than expected for 2018 due to higher than expected revenue while overhead has been kept lower than expected. Dignity plc also stated that their market share had remained “robust” which included small growth and as a result their operating profits were expected to be about  $US 101 million. . which is ahead of […]

An opinion  on Service Corporation International
Finance

An opinion on Service Corporation International

Just this morning I noticed an information piece on Service Corporation International from Zack’s Research.  It’s a short, but interesting look at how at least some people look at the death care industry as compared to the overall market and what they think about SCI. Interesting to note, is that according to the article, Service Corporation International stock has increased 13.2% in the last six months while the overall market has dropped. We present the article to you here with […]

Who Might the Buyers Be
Finance

Who Might the Buyers Be

So, as Monday afternoon churned into our New Year’s Eve revelry we did get to see the equity markets take a final upturn, but for the year we saw the Dow Jones average lose 5.6%, the Nasdaq lose 3.9%, and the S & P 500 lose 6.2% of its value.  All in all, the major equity markets in the USA took their biggest yearly loss in the last ten years. An interesting exercise for me has always been to look […]

Strategic Acquisitions Continue
Finance

Strategic Acquisitions Continue

Mergers and acquisitions in the death care space are nothing new and actually seem to be accelerating in not only the retail funeral home and cremation space but among suppliers as well.  Earlier this week we learned of Foundation Partners Group acquiring the Loyless Funeral Homes of Florida and we learned of Wilbert Funeral Services, Inc. (WFSI) moving ahead with due diligence to purchase assets of Astral Industries, manufacturer of Astral caskets. Foundation Partners Group —  You can read about […]

Markets flat for ’18, DCI drops
Finance

Markets flat for ’18, DCI drops

  After Friday’s market close I thought it might be a good time to check up with what has happened in the Death Care industry since the beginning of the year.  As you know the Funeral Director Daily Death Care Index (DCI) is made up of the value of one share of stock for eight different death care industry companies. While we have found that major market indices are rather flat for the year, we have noticed that the DCI […]