Tag: Carriage Services

InvoCare delivers “Solid Profit” in 2019
Finance

InvoCare delivers “Solid Profit” in 2019

The headline from a Motley Fool piece that you can read here states, “InvoCare delivers solid profit and dividend growth in FY2019”.  Australia’s largest funeral and cremation provider recorded revenue growth of 4% for the year which led to a 19.6% increase in after tax operating earnings. For the year, InvoCare brought in revenue of AUS $ 500.35 million (US $329.17 million) and recorded after tax net profits of AUS 63.75 million (US$41.94 million). The article mentioned that the gains […]

Carriage Services reports 4th Quarter and Year End 2019
Finance

Carriage Services reports 4th Quarter and Year End 2019

  Last week funeral service and cemetery consolidator and operator Carriage Services, based in Houston, Texas, reported 4th Quarter and Year End results for 2019.  They also provided commentary on how they believe that the company will move in the next three years.  I will provide some factual information in this report but also my opinions.  Please note I am not a stockholder in Carriage Services at this time. You can access their February 19 press release related to earnings […]

Public funeral home companies and 2019
Finance

Public funeral home companies and 2019

I will preface this article to say that it is being written on Friday, January 10.  Because of that all prices quoted come from the end of the day on Thursday, January 9.  I will also say I am not a stock security analyst and all opinions are mine alone.  Finally, I do own stock positions in Service Corporation International and Park Lawn Corporation. With that said, I thought it might be fun to compare what these public funeral home […]

New Carriage Services COO puts some skin in the game
Finance

New Carriage Services COO puts some skin in the game

As reported last week on Funeral Director Daily, Carriage Services has hired William Goetz as its new Chief Operating Officer.  Late last week we learned that Goetz has came out of the chute by showing confidence in the company the he will lead.  It was reported in this article that on Wednesday, December 11, 2019, Goetz purchased 10,000 shares of Carriage Services common stock at an average share price of $27.48 leading to a total value investment of $274,800. Funeral […]

It’s about demographics
Business

It’s about demographics

In the last couple of years it seems that we have seen no slow down in the marketplace for the acquisition of large family owned metropolitan death care businesses by the public company, venture backed, or equity partner backed large scale operators in the business.  You need think no farther back then last weeks announcement of the acquisition of Fairfax Memorial Park and Funeral Home in the Greater Washington, DC market or of the competition to purchase operations like Horan […]

Carriage Services acquisitions, hiring. . and other news
Finance

Carriage Services acquisitions, hiring. . and other news

Last week public funeral home operating company Carriage Services was really in the news.  They not only announced the acquisitions of the Fairfax Memorial Park and Funeral Home in the Washington, DC area, but they announced the purchase from StoneMor Partners of the funeral home/cemetery combination facility Oakmont Memorial Funeral Home and Cemetery in Northern California They also announced the addition of a new President/COO to their corporate family as well. StoneMor Partner’s press release mentioned the price of the […]

StoneMor announces California combo sale
Finance

StoneMor announces California combo sale

We said almost two years ago that the best way for funeral home and cemetery operator StoneMor Partners L.P. to right their ship was to divest themselves of some properties and use the cash proceeds to pay down debt so that they can get to a position where they are operating in a financial positive manner. Yesterday they made an official announcement of what many of us expected to be coming.  StoneMor Partners L.P. announced the agreement to sell the […]

Carriage makes big acquisition, announces new President/COO
Finance

Carriage makes big acquisition, announces new President/COO

Carriage Services, the Houston based funeral home and cemetery operator made a big announcement after business hours on Monday.  The company issued a press release which highlighted not only the acquisition of, what they say in the release is the largest by a combined revenue definition, acquisition in their 28-year history, but also announced personnel additions as well. In the release which you can read here, Carriage Services announced the acquisition of the Fairfax Memorial Park and Funeral Home in […]

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 […]

Annual budgeting. . .bringing in the revenue
Business

Annual budgeting. . .bringing in the revenue

Yesterday we started the talk of annual budgeting for a funeral home by looking at what are the expectations for overhead, profit, and a savings plan in that budget.  You can see yesterday’s article here.  Today, we will try to explain how we set the revenue parameters to make sure that we have a great chance to cover that budget — even if we under perform on the number of services we will do. To understand how I set our […]