Matthews International Reports Good, but Mixed Results

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Matthews International, a death care conglomerate with operations in crematory equipment, bronze memorialization products, and caskets, reported their 3rd Quarter 2018 fiscal year results yesterday.  You can read their press release here.

Their report can be summed up by increased total sales – albeit not to the extent that they had predicted, but a beat on the earnings as the consensus of analysts expected earnings of $1.14 per share and Matthews delivered earnings of $1.16 per share.

As the company relates to the death care industry, sales were up for the quarter year over year 3.9% in that segment.  According to the release that increase came from higher sales in the cremation equipment segment and lower sales in the bronze memorialization and the casket markets.  The company believes that these sales trends are in accordance with the decline in United States casketed deaths.

Funeral Director Daily will bring you more on this report on Monday as we also will look forward to quarterly releases from Hillenbrand Industries, Carriage Services, and Service Corporation International next week.

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