Earlier today Seeking Alpha News Editor Yoel Minkoff put out a short piece entitled, “Tough times for U.S. funeral homes“. Oppenheimer securities analyst Scott Schneeberger is quoted in the article. You can access the short article here.
Those of us who have watched the markets over the last few weeks have seen a deterioration in the value of our private investment portfolios. What has happened in the broader market is also indicative of what has happened in the death care industry with the exception of StoneMor, Inc. and its stock and valuation. StoneMor, based out of Trevose, Pennsylvania, operates approximately 320 cemeteries and 88 funeral homes in 27 states and Puerto Rico. It is no secret that […]
Earlier in March Park Lawn Corporation, the Toronto based funeral home and cemetery consolidator and operator, announced that it was updating their progress on a couple of large projects. The company announced that construction of an on-site funeral visitation and reception center at the Westminster Cemetery in Toronto was under way. The structure will be a 32,100 square foot facility and will be the company’s first on-site cemetery visitation center in Canada. The press release which you can read […]
We reported back in February on Carriage Services’ 2019 4th Quarter and their 2019 year end report. We told you at that time we would be listening for their Earnings Call and would eventually report on that as well. You can access the entire earnings call from this web page. Here are some interesting comments from Carriage Services executives that we bring to you: From William W. Goetz, the newly hired President and Chief Operating Officer of Carriage Services on […]
Yesterday I received an opinion article from Seeking Alpha entitled, “The Cornovirus’ Potential Impact on Service Corporation International’s Stock Price”. I will say that I do not have a personal opinion on this article but make it available simply because it is a public article on the virus and its potential impact on funeral services, at least according to one writer. You can read the article here.
The headline from a Motley Fool piece that you can read here states, “InvoCare delivers solid profit and dividend growth in FY2019”. Australia’s largest funeral and cremation provider recorded revenue growth of 4% for the year which led to a 19.6% increase in after tax operating earnings. For the year, InvoCare brought in revenue of AUS $ 500.35 million (US $329.17 million) and recorded after tax net profits of AUS 63.75 million (US$41.94 million). The article mentioned that the gains […]
Last week funeral service and cemetery consolidator and operator Carriage Services, based in Houston, Texas, reported 4th Quarter and Year End results for 2019. They also provided commentary on how they believe that the company will move in the next three years. I will provide some factual information in this report but also my opinions. Please note I am not a stockholder in Carriage Services at this time. You can access their February 19 press release related to earnings […]
Members of the death care media were informed yesterday via press release that the CEO and Chairman of Toronto based Park Lawn Corporation (PLC), Andrew Clark, would be stepping down as Chairman and CEO of the company. You can read the press release here. The release quoted Clark as saying, “It has been a tremendous privilege to lead PLC and build a strong and highly capable management team over the last eight years. I am grateful to have led a […]
Even though yesterday was the President’s Day holiday and the markets were closed across America, Service Corporation International took the opportunity to report their financial numbers for the 4th Quarter of 2019 and also for the Year End 2019. We will just report some of the numbers today and after we have a chance to digest the company’s conference call with brokers we will add more commentary. Here is a report from SCI on 4Q 2019 and Year End 2019. […]
This article from Yahoo Finance indicates that Australian and New Zealand public funeral operating company Propel Funeral Partners is growing market share. According to the article it is growing both from acquisitions and an annual death rate increase in both countries. Here is an excerpt from that article: “In Propel’s FY19 investor presentation, the company drew attention to notable industry figures. With death volumes in Australia expected to increase by a rate of 2.4% p.a. until 2026 and 2.1% thereafter […]