Finance

Finance

InvoCare reports first half year. . . gives us a glimpse of future funeral home revenue sources

InvoCare, the largest public purveyor of death care services in Australia, reported their first half year results for 2021 recently.  The earnings call transcript, which you can access here, also gave some glimpses into the future of funeral service companies, at least in Australia. As you may know, Australia has had a severe lockdown during the Covid-19 pandemic.  The first half of 2021 eased those restrictions somewhat and that was partially the reason that InvoCare saw a 13% increase in […]

Finance

Co-op FuneralCare acquires 50 locations, Propel Funeral Partners reports improved performance

Across the Atlantic Ocean we have learned that Co-operative  Funeral Care in Great Britain has reached agreement to purchase the funeral and preneed related businesses of Midcounties Co-op funerals.  The number reported in this article states that Co-op Funeral Care will acquire 50 funeral homes and 2 vehicle logistic sites from Midcounties. The transaction will be dependent on approval of the Competition and Markets Authority of Great Britain.  If completed, Co-op Funeral Care will number 182 locations.  According to another […]

Finance

Carriage Services called “An under appreciated performer in the Death Care industry”

Seeking Alpha recently penned an article about death care public company Carriage Services entitled, “An Under Appreciated Performer in the Death Care Industry”.  You can access that article here. Here’s a few quotes from the article: Carriage Services operates in the attractive death care industry, operating 171 funeral homes and 32 cemeteries in the United States.  The industry is attractive, although it is still extremely fragmented The business generates significant cash flow and returns on equity currently exceed 20%. Its […]

Finance

Security National’s Cemetery/Mortuary revenues up 28% in Q2

Security National Financial Corporation of Utah revealed their 2nd Quarter 2021 financial numbers earlier this month.  Total revenues for the entire company were actually down about 2% overall as their Mortgage Division saw an overall 8% decline in revenues as compared to the same quarter of 2020. However, the company’s Life Insurance division, which included preneed insurance and its Cemetery/Mortuary divisions both saw an increase in revenues which lowered that overall revenue loss to only 2%.  The Life Insurance Division […]

Finance Products

Online memorial startup Memories brings in over $30 million in funding. . . InvoCare invests $4 million

Online memorials seem to be one of the likeliest winners among potential start-ups in the Death Care space. . . . at least that is what it is looking like from the investment community.  According to articles that we link below it appears that over the summer months the Australian based Memories has raised over $34 million, which if in Australian dollars is still impressive as it equals about $25 million U.S. dollars. InvoCare, a public company and the largest […]

Finance

Park Lawn Corporation Revenue, EBITDA improves for 2Q and Fiscal half-year

Park Lawn Corporation, the Toronto, Ontario based funeral home and cemetery consolidator and operator announced 2nd Quarter financial results earlier this month.  For the company, revenue increased 8.5% to $88.4 million (US $68.9 m) from last year’s 2nd Quarter revenues of $81.5 million (US $63.59 m).  Adjusted EBITDA increased for the same time period to $22.7 million (US $17.7 m) as compared to the 2nd Quarter of 2020  Adjusted EBITDA of $19.48 million (US $ 15.19 m).  That’s an increase […]

Finance

StoneMor Inc. partners with Empathy. . . .Reports 2nd Quarter financials

StoneMor, Inc. the Pennsylvania based operator of cemeteries and funeral homes last week announced a partnership with end-of-life technology support start-up Empathy.  Empathy is, as they say, powered by technology and driven by purpose in helping grieving families handle countless tasks following the death of a loved one.  The company describes itself as “a service platform that helps families navigate the journey they face after losing a loved on.”  Here’s what StoneMor, Inc. CEO Joe Redling said in this prepared […]

Finance

Hillenbrand revenue increases, Batesville division sales and EBITDA drop

Hillenbrand Industries, parent company of Batesville, reported their Fiscal Year 3rd Quarter earlier this month.  Their FY 2021 3Q comprises the April, May, and June 2021 business period.  You can see the complete report here. Here’s what CEO Joe Raver said about the quarter, “We had another strong quarter of performance with exceptional cash generation and record backlog due to continued momentum in our industrial businesses, while Batesville performed better than expected.” Hillenbrand is comprised of three divisions:  Advanced Process […]

Finance

Foundation Partners enters Las Vegas market

It was announced in this press release that Foundation Partners Group, the Orlando, Florida, based funeral home and cemetery consolidator and operator, has acquired Kraft Sussman Funeral & Cremation Services of Las Vegas, Nevada.  The press release notes that this is Foundation Partners Group’s (FPG) first acquisition in Nevada. . . .the state with America’s highest cremation percentage rate. Tom Kominsky, CFO of Foundation Partners Group, said this of the acquisition, “Kraft Sussman is ahead of the curve in a […]

Finance

Matthews records record sales, casket sales drop off

Matthews International reported their 3rd Quarter 2021 sales recently and in doing so reported a record revenue for their 3rd Quarter (April-June) of $428.4 million, which is a 19.2% increase over the same period of 2020.  As you may know, Matthews International has three business segments, one of which is their Memorialization segment. The Memorialization segment of Matthews includes Matthews cremation and Aurora Casket Company as well as their cemetery memorial products division.  The segment recorded over 43% of total […]