Tag: Carriage Services

Goetz to leave Carriage Services?
Finance

Goetz to leave Carriage Services?

This morning we noticed a news release from Market Exclusive that you can see here pertaining to a K-1 filing from Carriage Services.  The filing informed the public that effective June 26, 2020, President and Chief Operating Officer William W. Goetz had resigned from those positions at Carriage Services as well as had resigned from a seat on the Carriage Services Board of Directors. The filing states in part, “The resignation was not the result of any disagreement Mr. Goetz […]

Green, Dodds to lead Park Lawn into the future
Finance

Green, Dodds to lead Park Lawn into the future

In a press release from the company that you can read here, Park Lawn Corporation announced Monday that Interim CEO J. Bradley Green would have the interim tag removed and has been named Chief Executive Officer of the Toronto based death care company.  In the same announcement, Park Lawn’s Board of Directors announced that Jay Dodds would be named the company’s President and Chief Operating Officer. It was also announced that Green and Dodds would become members of the public […]

Investors still reluctant with death care stocks
Finance

Investors still reluctant with death care stocks

I happened to see that at the close of the markets Friday that funeral home and cemetery operator and consolidator Park Lawn Corporation’s stock closed down over 9% from the previous day.  I looked for news on the company but could not find anything in the public world that would cause a precipitous drop in valuation like that. What it did cause me to do was take a look at all the other death care stocks that comprise the Funeral […]

Random thoughts on retail sales, funeral home restrictions, revenues, and acquisitions
Business Finance

Random thoughts on retail sales, funeral home restrictions, revenues, and acquisitions

Where were you when you first realized that the coronavirus may be something serious and you changed your course of habits to manage your lifestyle more safely?  Angie and I were on a scheduled flight out of Honolulu returning to Minneapolis on February 1, the day after President Trump had instituted the flight ban from China.  I remember wiping our seats down with clean wipes. . .something I had never done before. So, we have now had a little over […]

Carriage Services reports First Quarter 2020
Finance

Carriage Services reports First Quarter 2020

A short time ago Carriage Services, the Houston, Texas, based funeral home and cemetery operator announced they would delay their First Quarter 2020 financial results so that they could also report cornavirus related April results and May trends.  It is interesting to note that their First Quarter report that you can access here is titled, “First Quarter and April 2020 Results”. Here is what President and Chief Operating Officer Bill Goetz did say about the first quarter.   “Our performance through […]

Investors seem wary of death care stocks
Finance

Investors seem wary of death care stocks

We last brought our readers an update on the Funeral Director Daily Death Care Index (DCI) on April 6, 2020, which represented values as of the close of business on Friday, April 3.  As we tell national publications that call us about our DCI, it is not a scientific weighting of public companies in the death care business, but does give some semblance to what the investment community is thinking about the funeral, cemetery, crematory, and preneed services business community […]

SCI reports 1Q 2020. . . news on Carriage Services, Matthews
Finance

SCI reports 1Q 2020. . . news on Carriage Services, Matthews

Yesterday funeral home and cemetery public company Service Corporation International (SCI) reported their financial results for the 1st Quarter of 2020.  The results were much anticipated because they are the first quarter where the “no large gatherings” rule had come into effect in funeral service.  To be candid, however, those rules only came into effect in the latter part of March and, therefore, represent only a small portion of the 2020 1st Quarter results. SCI reported positive results in this […]

SCI CEO Tom Ryan:  “We’re going to have some revenue pressures”
Business

SCI CEO Tom Ryan: “We’re going to have some revenue pressures”

Over the years I’ve often thought that the business of funeral and cremation care as a business is overlooked by those that teach or write of things happening in the business world.  It is not everyday that Forbes magazine does an in-depth article on our profession. Last week, Forbes featured an article that you can read here entitled, “How the pandemic is killing the death business.”  The article features an in-depth interview with Service Corporation International’s CEO Tom Ryan.  It […]

Seeking Alpha:  Death care stocks to benefit from pent up demand
Finance

Seeking Alpha: Death care stocks to benefit from pent up demand

Seeking Alpha published an opinion piece from writer Malvin Spooner on Saturday, April 18, which theorized that death care public companies Service Corporation International (SCI) and Carriage Services (CSV) will benefit from what Spooner characterized as “pent up demand”.  You can read the full article here. Spooner says that “the death care industry stocks have sold off with the rest of the market, and although revenues from services are being squeezed by social distancing, it is likely that funeral services […]

StoneMor reports Year End 2019 results, signs agreement
Finance

StoneMor reports Year End 2019 results, signs agreement

On April 2 StoneMor Inc., the cemetery and funeral home operator based in Trevose, Pennsylvania, reported their 2019 year end financial results.  StoneMor, who operates 90 funeral homes and 320 cemeteries in 27 states and Puerto Rico, is the 2nd largest funeral home/cemetery operator in North America by revenue. You can access the 2019 Year End financial press release here. For the full year StoneMor reports that their revenue dropped about 8% to $289.5 million from 2018’s $316.5 million.  The […]