Finance

Matthews reports year end. . .Memorialization sales increase
Finance

Matthews reports year end. . .Memorialization sales increase

Matthews International reported their 4th Quarter and 2019 fiscal Year Sales last week.  The Pittsburgh based public company includes in its portfolio, as one of three business segments, a Memorialization unit that includes Matthews Cremation, Aurora Casket, and Star Granite which are of interest to the death care industry. You can access the Matthews International 4Q and Fiscal 2019 report here. For the 2019 year Matthews International reported sales of $1.54 billion as compared to 2018 total sales of $1.60 […]

Park Lawn executives comment on 3rd Quarter
Finance

Park Lawn executives comment on 3rd Quarter

Last week Park Lawn Corporation CEO Andrew Clark and CFO James Leeder commented on the company’s 3rd quarter results and also took questions from analysts about the company’s performance.  You can read the transcript here.  I have, however, taken the liberty to pull out some of the comments that we thought would be of the most interest to our readers and have made them available.  These questions and answers deal with the purchase of 10 properties from The Journey Group, […]

Corporate News
Finance

Corporate News

This afternoon we will bring you a couple of items that recently appeared in print publications about public companies in the death care business. From the Philadelphia Business Journal we bring you this article on StoneMor Partners.  It is entitled, “StoneMor slims down executive ranks, plans divestitures for bid for profitability”.  We believe it is a good article that highlights what has dogged StoneMor Partners for the past decade and what new management is doing to try to become profitable. From […]

Park Lawn Corporation reports 3Q 2019
Finance

Park Lawn Corporation reports 3Q 2019

Last week Canadian based public company funeral home and cemetery operator Park Lawn Corporation released its 3rd Quarter and 9-month results for 2019.  You can see them here. The fast growing company reported 2019 3Q revenues of $66.5 million as compared to 2018 3rd Quarter revenues of $43.2 million. . .an increase of 54%.  They also reported 9-month 2019 revenue of $175.3 million as compared to $110.7 million for the same period in 2018. Park Lawn also noted that the […]

Batesville reports that 4th Qtr sales are flat
Finance

Batesville reports that 4th Qtr sales are flat

Hillenbrand Industries, parent company of Batesville Casket company reported earlier this week that Batesville’s fiscal 4th Quarter sales (July, August, September) were essentially flat from the prior year.  You can see Hillenbrand’s 4th Quarter and Year End report here. Hillenbrand Industries reported quarterly revenue of $486 million — an increase over 4Q 2018 of 2%.  They also reported that the growth was spurred by an increase of 3% in their Process Equipment Group while Batesville  revenue was “essentially flat”.  Of […]

Acquisitions keep on rolling around the world
Finance

Acquisitions keep on rolling around the world

There are a lot of reasons that businesses, including funeral homes, change operational and ownership hands.  Sometimes a single proprietor gets a price that he just can’t turn down.  Sometimes a single proprietor just wants to retire and either has no family to go into the business or family that wants to pursue other goals and ambitions. Sometimes the transaction is spurred by the acquiring company that wants to get larger and has ideas where, through operational efficiencies and promotion,  […]

StoneMor Partners reports 3rd Quarter
Finance

StoneMor Partners reports 3rd Quarter

StoneMor Partners L.P. reported their 3rd Quarter and 9-month 2019 numbers last week and with it showed significant progress in their attempt at a transformational turnaround of the company.  In brief, StoneMor reported that revenues are stabilizing, that they are cutting recurring expenses, and that they have made progress on a divestiture process that will, more than likely, make their company smaller and more focused. You can see a copy of the report here. From the operations side of the […]

Assurant reports 3rd Quarter 2019
Finance Preneed

Assurant reports 3rd Quarter 2019

Assurant is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases.  In relation to the death care industry they are a provider of pre-need or what they call “pre-funded funeral insurance”.  Assurant is a Fortune 500 company with a presence in 21 countries. They recently reported their 3rd Quarter results for 2019 and you can see them here.  In those results they reported $104.8 million of operating income of which $7.4 million […]

Foundation Partners adds another acquisition
Finance

Foundation Partners adds another acquisition

Acquisitions continue to be announced in the death care business.  It seems that there are a lot of businesses where the ownership is ready to transition out of the profession and there is an ever growing number of neighbor, regional, and national providers of funeral and cremation care that are intent on getting larger. In our opinion, not all acquisitions are good or beneficial to the continuing business.  We believe that acquisitions can be positive to the bottom line when […]

Carriage Service’s 3rd Quarter. . . CEO speaks on new opportunities, letter of intent
Finance

Carriage Service’s 3rd Quarter. . . CEO speaks on new opportunities, letter of intent

Last week funeral home and cemetery consolidator and operator Carriage Services reported their 3rd quarter results for 2019.  After some disappointing results in the past year, the 3Q report was filled with enough upside results to put a little jump in the step of Carriage Service executives and stockholders.  You can see the company results here. Strictly from a revenue point of view, Total Revenue jumped almost 3% (or about 5.5% if “divestment revenue” is taken out from the equation […]