Tag: Park Lawn Corporation

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 […]

Lawsuit against Park Lawn affiliate
Cemetery Regulations

Lawsuit against Park Lawn affiliate

Last week Funeral Director Daily learned about a lawsuit against a Park Lawn affiliate cemetery from this article.  The article contends that the American Moslem Society (AMS) of Dearborn, Michigan, has filed a lawsuit alleging an attempt by Woodmere Cemetery to breach its contract with the mosque. According to the article, AMS has purchased more than $5 million worth of graves and burial services over the last two decades. AMS now alleges that a contract that was signed in 2017 […]

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 […]

Park Lawn Corporation 1Q 2020:  Revenues increase 47.5%
Finance

Park Lawn Corporation 1Q 2020: Revenues increase 47.5%

Park Lawn Corporation (PLC), the Toronto based funeral and cemetery operator, issued a press release, that you can read here, on its First Quarter 2020 operations earlier this week.  Highlights from that press release seem to be that the company increased its revenues from CAN $50.15 million ( US$35.6 million) in 2019 to CAN $73.98 million (US$ 52.5 million) in 1Q 2020 — that’s an impressive increase of 47.5%. The company also showed an impressive gross margin or Gross Profit […]

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 […]

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 […]

Park Lawn reports 2019 results, Brad Green named Interim CEO
Finance

Park Lawn reports 2019 results, Brad Green named Interim CEO

Park Lawn Corporation (PLC), the Toronto based funeral home and cemetery consolidator and operator, reported their 2019 financial results on Monday after trading hours.  The company showed mixed results by increasing their revenue by 51% to $244 million (all dollar numbers are in Canadian dollars unless otherwise indicated) but only generating an additional 2.3% in Net Earnings for the year. You can see a press release on PLC’s 2019 results here.  You can access their complete 2019 Financial Report here. […]

StoneMor bucks the system
Finance

StoneMor bucks the system

Those of us who have watched the markets over the last few weeks have seen a deterioration in the value of our private investment portfolios.  What has happened in the broader market is also indicative of what has happened in the death care industry with the exception of StoneMor, Inc. and its stock and valuation. StoneMor, based out of Trevose, Pennsylvania, operates approximately 320 cemeteries and 88 funeral homes in 27 states and Puerto Rico.  It is no secret that […]

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 […]