Finance

Matthews Memorialization segment reports 4Q of lower sales, improved EBITDA

By Funeral Director Daily / November 27, 2023 /

Here’s what Matthews International CEO Joseph C . Bartolacci had to say in this prepared press release about the company’s 4th Quarter (reflecting an October 1 Fiscal Year beginning) operations of their Memorial segment, “The Memorialization segment also performed well again in the fiscal 2023 fourth quarter, completing a very good year. Despite the continued…

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Security National shows the way

By Funeral Director Daily / November 20, 2023 /

  In business it is many times believed that the smaller you are, the more nimble you can be.  And, if you live on a lake or an ocean you probably have heard the phrase that you “can turn around a jetski faster than an aircraft carrier”.   Both of those thoughts came to my…

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Park Lawn 3rd Quarter sounds familiar

By Funeral Director Daily / November 15, 2023 /

    Last week Park Lawn Corporation reported their 3rd Quarter 2023 financial results.  Much like we found with Carriage Services, we found that Park Lawn Corporation (PLC) was able to increase total revenues but struggled to turn those increased revenues into greater Net Income for the quarter.   PLC reported a quarterly revenue increase…

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Carriage Services sees Revenue increase, Net Income decrease for 3rd Quarter comparables

By Funeral Director Daily / November 13, 2023 /

      Carriage Services reported 3rd Quarter 2023 financial numbers last week in their 3Q 2023 Report that you can access here, and in that report they showed Total Revenue growing to $90.5 million for the quarter and Net Income dropping to $4.6 million for the same period.   That compares to 3Q 2022…

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Will the “tailwinds” soon be back for death care M&A activity?

By Funeral Director Daily / November 9, 2023 /

  Going back to this August article from Donnelly Financial Solutions they believe that merger and acquisition activities were low earlier in 2023 because, at least in part, “Rising interest rates made it unappealing to borrow money. Inflation shifted company focuses elsewhere.  (and) Global volatility also swayed companies to press pause on M&A activity.” Nonetheless,…

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SCI execs give some insight to the “state of the business” in quarterly earnings call

By Funeral Director Daily / November 8, 2023 /

    Service Corporation International (SCI) reported 3rd Quarter financial numbers for 2023 last week which we highlighted in Monday’s edition of Funeral Director Daily.  Today, we perused the company’s earnings call of last week to try to find some insight into the questions those in the profession are asking at this point in time.…

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Service Corporation 3Q: Regaining their revenue footing. . . .potential challenges ahead

By Funeral Director Daily / November 6, 2023 /

  Service Corporation International (SCI) reported their 3rd Quarter of 2023 financial results last week.  While their cumulative 6 -month report had revenues lagging behind the 2022 comparables, the 3Q 2023 report shows revenues increasing by 2.5% over the 3Q 2022 numbers — the 2nd consecutive quarter of increased revenue comparables.  SCI pulled in total…

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Park Lawn/Everstory Partners agree on properties sale

By Funeral Director Daily / October 18, 2023 /

    Park Lawn Corporation announced yesterday in this press release that they have reached an agreement to sell at least 83 death care properties, consisting of 72 cemeteries and 11 funeral homes to Everstory Partners, the new brand of the former StoneMor company.   Here’s what the press release states:  “The divestiture includes 72…

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Seeking Alpha gives positive review of Park Lawn Corporation

By Funeral Director Daily / October 11, 2023 /

    In an article that was published on October 1, and I’ll remind our readers that was before Park Lawn Corporation (PLC) had publicly withdrawn its $34 per share offer for Carriage Services, Seeking Alpha authors gave a positive review of Park Lawn Corporation.   The article, which you can read here is entitled,…

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Death Care Index drops, now in negative position for the year

By Funeral Director Daily / October 9, 2023 /
WallStreet

  The 3rd Quarter of 2023 ended with the end of September and we thought it would be a good time to take a look at how the public companies in Death Care have held up over the course of the past quarter and past nine months.  From our point of view it looks like…

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