Tag: public funeral companies

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 […]

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 […]

Sales, profits drop at Matthews International
Finance

Sales, profits drop at Matthews International

Last week Matthews International, a multi-faceted United States public company based in Pittsburgh, Pennsylvania, reported 3rd Quarter results for their fiscal year which will end on September 30.  The 3rd Quarter results are for the period ended June 30 and you can read the Matthews press release about the financial report for the 3rd Quarter here. Of interest to those of us in the death care industry is that Matthews is the parent company of Matthews Cremation, Star Granite and […]

Park Lawn Corporation moves into St. Louis market
Finance

Park Lawn Corporation moves into St. Louis market

In a press release out of Park Lawn Corporation headquarters in Toronto, Ontario, today, the company announced that it had acquired the assets of two-location funeral business John L. Ziegenhein & Sons Undertaking, Inc.  According to the press release that you can read here, the Ziegenhein Funeral Homes were acquired for a purchase price of US$4.2 million. Andrew Clark, CEO of Park Lawn commented, “The addition of Ziegenhein Funeral Homes is an excellent opportunity to further expand our existing footprint […]

Security National Cemeteries and Mortuaries revenue jumps 23% in 2018
Finance

Security National Cemeteries and Mortuaries revenue jumps 23% in 2018

Utah based Security National Financial Corporation issued their 2018 financial results earlier this month and you can see a statement from them here.  The company announced a company wide increase in revenues of 1% to over $279 million.  In addition, SNFC announced that their after-tax earnings from operations jumped over 53% from about $14 million in 2017 to $21.68 million in 2018. SNFC operates in three segments:  Life Insurance, Mortgages, and Cemeteries/Mortuaries.  At Funeral Director Daily we are most concerned […]

Park Lawn Announces acquisition of 8-location Wisconsin firm
Finance

Park Lawn Announces acquisition of 8-location Wisconsin firm

Park Lawn Corporation, the Toronto based cemetery and funeral home consolidator announced last week that they had reached an agreement to purchase Madison, Wisconsin based Cress Funeral Service for US$ 20.3 million.  You can read a press release from Park Lawn here. Park Lawn, in their press release, makes these statements: The price to be paid is within the company’s publicly stated EBITDA range for transactions. The purchase will be financed by the company’s existing credit facility. The acquisition will […]

SCI Keeps Chugging Along
Finance

SCI Keeps Chugging Along

Death care public company and industry leader Service Corporation International announced 3rd Quarter results yesterday and with the announcement came earnings news of $0.37 per share for the quarter compared to $0.29 per share in the same quarter one year ago.  Total revenues, which include acquisitions, are up for the quarter to over $778 million as compared to last year’s quarterly revenues of $731 million — an increase of 6.5%.  For the 2018 year’s first nine months total revenues are […]

Funeral Home Firms announce Dividends
Finance

Funeral Home Firms announce Dividends

Last week public market funeral home and cemetery operators Park Lawn Corporation and Carriage Services made announcements about their dividends to stockholders going forward. In an article that you can read here Park Lawn Corporation announced that they will be paying a monthly dividend in November of $C 0.038 per share – which on an annual basis would equal $C 0.046 per share.  This is unchanged from last month’s dividend.  The Park Lawn stock price was at $C 23.75 on […]

Spanish Funeral Firms Consider Merger
Finance

Spanish Funeral Firms Consider Merger

The second and third largest funeral home firms in Spain are considering a merger according to this article from Reuters.  Santa Lucia’s subsidiary Albia and Mapfres’ subsidiary Funespana are the number two and three in funeral services in the country and are contemplating teaming up to become a company that would do about $229 million (U.S. dollars) in revenue.  For perspective, $229M in revenue would be about 90% of the size of U.S. based publicly traded funeral services company Carriage […]

Inside the Numbers at Matthews International
Finance

Inside the Numbers at Matthews International

Matthews International reported its 2018 fiscal year 3rd quarter results last week.  You can read the company’s press release and report here. As you may know the Pittsburgh, Pennsylvania based public company operates in three segments:  Brand Solutions, Industrial Technologies, and Memorialization.  Their Memorialization segment is what we are concerned with in the death care industry and they are leaders in cremation technology and supplies, granite and bronze sales, and casket sales thru their Aurora Casket business. Overall, the company […]