Tag: Park Lawn Corporation

Park Lawn CEO Andrew Clark announces departure
Finance

Park Lawn CEO Andrew Clark announces departure

Members of the death care media were informed yesterday via press release that the CEO and Chairman of Toronto based Park Lawn Corporation (PLC), Andrew Clark, would be stepping down as Chairman and CEO of the company.  You can read the press release here. The release quoted Clark as saying, “It has been a tremendous privilege to lead PLC and build a strong and highly capable management team over the last eight years.  I am grateful to have led a […]

SCI reports 4th Qtr and Year End numbers
Finance

SCI reports 4th Qtr and Year End numbers

Even though yesterday was the President’s Day holiday and the markets were closed across America, Service Corporation International took the opportunity to report their financial numbers for the 4th Quarter of 2019 and also for the Year End 2019.  We will just report some of the numbers today and after we have a chance to digest the company’s conference call with brokers we will add more commentary. Here is a report from SCI on 4Q 2019 and Year End 2019. […]

Park Lawn Corporation completes acquisition
Finance

Park Lawn Corporation completes acquisition

Last Friday the Park Lawn Corporation, headquartered in Toronto, issued this press release which confirms that they have completed an  acquisition announced earlier in the year.  The press release tells of the completion of the Nashville, Tennessee area acquisition which includes Family Legacy, LLC, a business with 12 locations.  The acquisition also includes the membership units of WG-TN, LLC. The press release also indicates that the closing excludes one stand-alone funeral home that Park lawn Corporation had intended to purchase […]

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 […]

Park Lawn rings in the new year with acquisition
Finance

Park Lawn rings in the new year with acquisition

Toronto based funeral home and cemetery operator Park Lawn Corporation (PLC) announced in a press release on January 2, 2020, that they had acquired two businesses under common control in Tennessee.  In this release PLC announced that they had purchased the stock and membership interests of Family Legacy, LLC and WG-TN, LLC (Harpeth Hills Funeral Home and Cemetery) from William Gregory. Both firms are located in the Greater Nashville, Tennessee area and, according to the release, “expand PLC’s strategic footprint […]

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 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 […]

Park Lawn executives comment on 3rd Quarter
Finance

Park Lawn executives comment on 3rd Quarter

Last week Park Lawn Corporation CEO Andrew Clark and CFO James Leeder commented on the company’s 3rd quarter results and also took questions from analysts about the company’s performance.  You can read the transcript here.  I have, however, taken the liberty to pull out some of the comments that we thought would be of the most interest to our readers and have made them available.  These questions and answers deal with the purchase of 10 properties from The Journey Group, […]

Corporate News
Finance

Corporate News

This afternoon we will bring you a couple of items that recently appeared in print publications about public companies in the death care business. From the Philadelphia Business Journal we bring you this article on StoneMor Partners.  It is entitled, “StoneMor slims down executive ranks, plans divestitures for bid for profitability”.  We believe it is a good article that highlights what has dogged StoneMor Partners for the past decade and what new management is doing to try to become profitable. From […]

Park Lawn Corporation reports 3Q 2019
Finance

Park Lawn Corporation reports 3Q 2019

Last week Canadian based public company funeral home and cemetery operator Park Lawn Corporation released its 3rd Quarter and 9-month results for 2019.  You can see them here. The fast growing company reported 2019 3Q revenues of $66.5 million as compared to 2018 3rd Quarter revenues of $43.2 million. . .an increase of 54%.  They also reported 9-month 2019 revenue of $175.3 million as compared to $110.7 million for the same period in 2018. Park Lawn also noted that the […]