Tag: sci

Foundation Partners adds locations
Finance

Foundation Partners adds locations

In a press release issued last week Foundation Partners Group announced that it had purchased a group of funeral and cremation operations.  The group consists of three business, that were owned by one party,  known as Advent Funeral and Cremation Services with locations in Falls Church, Virginia, and Lanham, Maryland.  Also included in the purchase was Rapp Funeral Service in Sliver Spring, Maryland, and Chesapeake Crematory in Beltsville, Maryland. You can access the Foundation Partners press release here. According to […]

Neptune Society sued by State of California
Regulations

Neptune Society sued by State of California

In news that broke after business hours on Monday, it was reported in this article from Oakland that California Attorney General Xavier Becerra and three Bay area district attorneys filed a lawsuit against the Neptune Society and Trident Society for misleading customers about the protection of money paid in advance for cremation. Both companies are part of Service Corporation International, the Houston based death services conglomerate. According to the article, the lawsuit claims that “the Service Corporation International subsidiaries deceive […]

Indiana funeral home increases community involvement
Business

Indiana funeral home increases community involvement

According to this article in the Kokomo (Indiana) Perspective, the Ellers Mortuary and Cremation Center was acquired by Service Corporation International in 2016.  Some feared that the acquisition would cause the Kokomo business, that had been in business since 1924, to lose its personal touch. However, according to General Manager Jaime Handy, “the acquisition has actually strengthened the company’s ties to the community”.  The funeral home has actually expanded the services it can offer to the community. Ellers Mortuary and […]

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 […]

From the Veterans Day file
Business Cemetery Preneed

From the Veterans Day file

Yesterday was Veteran’s Day across the United States and we noticed a couple of funeral related items that we thought we would pass on to our readers. First of all, we noticed how Service Corporation International’ s Dignity Memorial location in Western Michigan received some really good attention on a television talk show about pre-planning options for veterans.  You can see the video here.  This is great publicity and public information. We just think it is great marketing by 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 […]

It’s November. . . have you set your budget for the new year
Business

It’s November. . . have you set your budget for the new year

I live in Minnesota and every year when the calendar turned over into November I had two thoughts. . . Five months of winter ahead and time to make sure the income and expense budget for the funeral home is set up for the new year ahead. I operated a funeral home that over time had a volume of slightly over 300 calls per year.  From 1980 when I started until 2013 when I sold the majority of the business […]

Our thoughts on SCI’s earning report. . .leaders comment on SCI Direct, West Coast cemeteries, and the acquisition environment
Finance

Our thoughts on SCI’s earning report. . .leaders comment on SCI Direct, West Coast cemeteries, and the acquisition environment

Last week we provided a link to where you could go to read the 3rd Quarter report on Service Corporation International.  We will provide that link again here.  Here’s what SCI President and CEO, Tom Ryan, commented on in that report.  “. . .This solid funeral performance driven by an increase in funeral services performed couple with an anticipated decrease in general and administrative expenses was offset by lower cemetery segment profit associated with anticipated lower completed construction revenue.  Additionally, […]

Carriage Services, SCI report 3rd Quarter Results
Finance

Carriage Services, SCI report 3rd Quarter Results

Funeral home and cemetery public operation companies Carriage Services and Service Corporation International reported 3rd Quarter results October 28 and October 30 respectively.  Here are press releases from each company on their results. Funeral Director Daily will wait until after we have had the chance to read the transcripts of the analysts calls with the principals of each business before we will comment. Here is Carriage Services 3rd Quarter press release Here is Service Corporation International’s 3rd Quarter press release

Carriage Services adds Texas location
Finance

Carriage Services adds Texas location

It was announced yesterday in this press release that funeral home and cemetery consolidator Carriage Services had acquired the Rest Haven Funeral Home and Cemetery, based in Rockwall, Texas.  The press release went on to say that this purchase represents Carriage Service’s first foray into the large and strategic market of Dallas-Fort Worth. Again, according to the press release, Rest Haven has been in business for fifty years and also has locations in Rowlett and Royse City, Texas.  The press […]