Finance

Finance

On looking back. . . and moving forward (Part 2)

We told you yesterday that Carriage Services CEO and Chairman Mel Payne had published a lengthy Letter to Shareholders in early April.   In that letter, that you can access here, he painted what we call a somewhat aspirational future for Carriage Services, after first pointing out how they got to where they are today. Today, we plan to offer our interpretation of how the company is being transformed from one that has about 174 funeral homes doing about 200 calls […]

Finance

On looking back. . . .and moving forward (Part 1)

Earlier this month Carriage Services CEO and Chairman Mel Payne put out a lengthy shareholder letter.  We found it a great read, not only to catch up with what is happening with Carriage Services, but as an aspirational blueprint, that if followed could lead to success in almost all funeral homes.  Payne even points out Investor Business Daily’s 10 Secrets to Success that we have included below. You can access this shareholder letter here. From my point of view, and […]

Business Finance

Independent operators. . . . .know your value

Back in 1990 I spent about three days north of Vancouver, British Columbia, along the Campbell River fishing for salmon with a group of funeral industry people.  One of the days was spent in a small fishing boat with a gentleman about thirty years my senior who had spent almost his entire funeral service career as an acquisition target expert for the large corporate entities.  Suffice it to say, I listened and learned a lot about the mergers and acquisition […]

Finance

Security National posts 70% increase in year over year revenues

Security National Financial Corporation (SNFC), the Utah based company with segments in the preneed insurance, funeral home assignment, mortuary, and cemetery business, released their 4th Quarter of 2020 and Year End 2020 results last week.  The first line from that press release which you can read here, states, “For the twelve months ended December 31, 2020, SNFC’s after-tax earnings from operations increased 410% from $10,894,000 in 2019 to $55,597,000 in 2020, on a 70% increase in revenues to $481,463,000.” To […]

Finance

Foundation Partners adds Washington state acquisition

Foundation Partners Group (FPG), the privately held death care consolidator with headquarters in Orlando, Florida, announced earlier this week an acquisition to add to their 160 plus facilities. In this press release you can read that FPG acquired the Klontz Funeral Home and Cremation Services company based in Auburn, Washington.  According to the press release, this will give FPG 11 locations in the state of Washington.  Here is a United States map showing Foundation Partners locations. According to the press […]

Finance

Park Lawn Corporation sees “significant growth in revenue, net earnings”

Park Lawn Corporation reported their 2020 4th Quarter and Year End financial numbers earlier this week and the press release, which you can read here, states “. . . PLC finished 2020 with a powerful performance in Q4, which included achieving significant growth in revenue, net earnings, Adjusted Net Earnings, Adjusted EBITDA, and Adjusted EBITA margin. ” A couple of highlights for the company included a full year revenue increase of 37% primarily due to acquisitions made during 2020 and […]

Finance

Revenues, operating income pop for StoneMor. . . . 2020 year end report

In a report issued last week, StoneMor Inc. released its financial results for the 4th Quarter of 2020 and for the full-year of 2020.  Here’s what CEO Joe Redling said in the report that you can read here, “The groundwork that was laid with our transformation initiatives, allowed StoneMor to produce another very strong quarter financially, while weathering the surge in the COVID-19 pandemic. We saw 29% year-over-year revenue growth, driven by a strong sales performance including a 20% increase […]

Finance

Access Holdings raises $630 million for investment expansions

We learned last week, and you can read more in in an article found on this page from Access Holdings, that the Baltimore based investment firm had secured $630 million in credit facilities to assist it as it goes forward in building out its platform of companies. As you may know, Access Holdings is the mid-market investment firm that is supporting the “buy and build” approach of Orlando based death care company Foundation Partners Group (FGP). According to the press […]

Finance

Great Britain’s Dignity plc reports 2020 results. . .digital marketing important and growing

Great Britain’s largest purveyor of death care services, Dignity plc, reported their results for 2020 last week in a very comprehensive report.  The results show increased revenues on more death calls, but because of choices made in taking financial impairments on goodwill and trade names it is difficult to get actual year over year comparables. However, the report is very comprehensive and gives great insight to what is happening in the cremation markets, the direct cremation markets, and, quite frankly, […]

Finance Preneed

Assurant Preneed acquired by CUNA

CUNA Mutual Group announced last week in this press release that it intends to acquire the preneed funeral business of global conglomerate Assurant.  We told you late last year, in this article, that Assurant was expected to move on from the preneed business as it concentrated on other business elements. The reported purchase price by CUNA Mutual Group is $1.3 billion. According to the linked press release, “CUNA Mutual Group, a broad financial services provider, announced it has entered into […]