Last week the largest public company in the death care space, Service Corporation International, reported their 2022 2nd Quarter and Half-Year financial results. For the quarter which encompasses the April thru June 2022 calendar dates, company wide revenue rose to $990.9 million as compared to the same period of last year which totaled $987.5 million. . . that’s an increase of about 3.4 million or just 0.3% over the 2021 number. In addition, Operating Income for the quarter dropped from […]
I recently came across this article from the Dayton (Ohio) Daily News. The article told the story of the Routsong Funeral Home acquiring the Morris Sons “funeral business” of the same community. What was interesting was that the article told of the Routsong Funeral Home “picking up (the) pre-funded funeral service arrangements for an additional 100 or so families”. The article also made the point that the Morris Sons Funeral Homes two physical locations were not a part of the […]
Mathews International, the global provider of memorialization products, industrial technologies, and brand solutions reported their Fiscal 3rd Quarter last week. That quarter encompasses the April thru June 2022 time period. In reporting their Memorialization segment finances we note that they may be reporting what we believe could become a common theme in death care company’s reports for the quarter — that is one of thinning margins. You can see the quarterly financial press release here. Here’s what Matthews CEO and […]
Park Lawn Corporation announced yesterday in this press release that they have acquired substantially all of the assets of the Schackelford Corporation based in Western Tennessee. The Schackelford Corporation encompasses a fifth-generation company that has served Western Tennessee for 90 years. According to the press release the acquisition includes eight stand-alone funeral homes, two stand-alone cemeteries, and one on-site funeral home and cemetery. The release also indicates that the acquisition will bring an approximate 1,577 calls per year and 152 […]
Last week Carriage Services was the first death care related company to report its earnings for the March thru June 2022 period. As you can see from this short article from Investors Observer, they missed the numbers in both categories – Revenues and Earnings – that the analysts had predicted for them to achieve. Here’s a quote from Investors Observer, “The consensus among analysts for Carriage Services was for an earnings per share (EPS) of $0.82. The firm failed to […]
According to this press release from Service Corporation International (SCI) the company is scheduled to announce the financial results of their 2nd Quarter of 2022 on Tuesday, August 2. Prior to that however, last week author Daniel Jones of Seeking Alpha penned an opinion article on the company and rated the company a “Buy” in his opinion. Here’s what he said in conclusion of that article, “Based on the data provided, it looks to me as though Service Corporation International […]
A press release out of Batesville, Indiana, caught a lot of the death care profession off guard on Wednesday. That press release, which you can read here, was from Hillenbrand Industries and announced that the company would “explore strategic alternatives for its Batesville business”. Here’s what parent company Hillenbrand Industries President and CEO Kim Ryan said in the release, “Today’s announcement is a defining moment for Hillenbrand, building on the exceptional work our teams have done to position our businesses […]
There was much ado last year about Great Britain’s largest provider of funerals and cremations, Dignity plc, and their upcoming change in strategy. While not apprised of the entire situation, I do know that the company was coming under scrutiny from the Competition and Markets Authority (CMA) as well as the Financial Conduct Authority (FCA), as were all United Kingdom providers of death care services, in their pricing of services to consumers. According to the Dignity plc Annual Report and […]
This press release issued last week by Park Lawn Corporation (PLC) will tell you of their acquisition of Farris Funeral Service, Inc. and Affiliated Service Group, Inc. (collectively known as “Farris”). The businesses acquired include one stand-alone funeral home and one on-site funeral home and cemetery located in Abingdon, Virginia. Here’s what Park Lawn Corporation CEO J. Bradley Green said of the transaction, “We are excited to continue our strategic growth in the southeast by entering into the Virginia market […]
Bare, the Australian death care start-up that was founded in 2019 and already has a staff of 42 and has served over 15,000 Australians to date announced in June that it had raised AUS $10 million (US $6.82 million) in a round of Series A funding to advance their growth journey. This article from Smart Company indicates that Perennial Partners and Ord Minnett Private Capital have joined the group of funders which includes former NBA basketball star Andrew Bogut. Bare […]
