Reuters published an article yesterday that was picked up by the New York Times today. It is headlined, “As coronavirus hits memorial services, U.S. funeral homes struggle to adapt”. You can read the article here.
The article picks up on the Seeking Alpha article that we made available to our readers yesterday bearing somewhat on the uncertainty of what is happening with the death rate amid the COVID-19 challenge. The article makes specific references to funeral homes that are working in areas that are under “no public gathering” rules.
Quoted in the article is Carriage Services President Bill Goetz, “We have a plan for each one of our 219 businesses out there”.
Ruby Joyner, manager of the C.P. Bannon Mortuary in Oakland says, “We do remain open, but we are only doing cremations and burials. We are not offering memorials or any additional services”.
Research analyst Alexander Paris is also quoted, “If it did pick up and significantly increase the death rate in the U.S. in 2020, I think that would help these stocks (businesses), but for the short term, it’s the no public gathering rules that are going to affect them”.