To our readers: Before we get into our feature article of the day I want to apologize to readers who did not receive distributed copies of Funeral Director Daily last Wednesday and Thursday. Unfortunately, we ran into issues where we simply outgrew our former distributor of Funeral Director Daily emails, Twitter, and Facebook postings. The growth is good, however, we were not prepared for this happening and so I apologize to our readers for the problem. There were three articles […]
Finance
Security National has bang-up quarter, Memorial segment grows
Security National Financial Corporation (SNFC) is a diverse, but integrated company. They are diverse in that they have three distinct segments – Mortgages, Life Insurance, and Cemeteries/Mortuaries – under their umbrella. They are an integrated company in that all segments report together to bring a bottom line to the company. And, the integration was good for the Salt Lake City based public company in the 2nd Quarter of 2020 as you can read in their recently released financial results for […]
Park Lawn Corp reports 2Q 2020, CEO Green answers acquisition questions
Toronto based Park Lawn Corporation (PLC) reported its 2nd Quarter 2020 financial situation last week. In it they reported great success on revenue growth and Adjusted Net Earnings. CEO Brad Green commented on the financial report in saying, “We have grown together as an organization and are poised to continue with our projected growth targets.” In the quarterly report that you can read here you will find that growth-oriented Park Lawn’s revenues grew from $58.6 million in 2Q 2019 to […]
Afternoon edition: News you can use from public companies to cemeteries to COVID
In today’s Afternoon Edition we will bring you a myriad of different news from different parts of the death care spectrum. We lead off with an article from the United Kingdom that highlights that country’s largest provider of funeral services and cremations, Dignity PLC. As you may know, the British Competition and Markets Authority (CMA) recently ended its investigation into price practices in the funeral industry of Great Britain without imposing price controls, at this time on funeral and cremation […]
StoneMor, Inc. reports 2nd Quarter 2020. . comment on going private emerges
When Joe Redling was appointed CEO of StoneMor, Inc. the company was in fast decline, revenues were washing away, and losses were mounting. That was June of 2018, only two years ago, and now, although far from being in the clear and a profit machine, there is hope at the end of the tunnel. StoneMor, Inc. reported its 2nd Quarter 2020 financial results last week and the comparable revenues for businesses operations have pretty much leveled off from a downward […]
SCI’s Tom Ryan talks 2nd Quarter 2020
The 2nd Quarter of 2020, that period that encompasses the months of April, May, and June, was looked at as a quarter which would produce financial results that would be unique, maybe in the entire last century, simply because it was the first 3-month period of the COVID-19 pandemic. As the United States went into the pandemic in February and March of 2020, many people theorized on how funeral homes and cemeteries would come through with things such as social […]
Foundation Partners adds to California presence
Funeral Director Daily received word last week that Foundation Partners Group, the Orlando based operator of funeral homes, cremation centers, and cemeteries, has acquired the Bermudez Family Cremations and Funerals operation in Monterey, California. That acquisition expands the Foundation partners network in California to eight locations. Here’s what Foundation Partners Group CEO Bob Bukala had to say about the acquisition, “Bermudez Family Cremations and Funerals makes a great addition to our growing portfolio of operations in Northern California. The business […]
Batesville sales increase 7%
Hillenbrand Industries, a global diversified industrial company and parent of death care company, Batesville, reported their 3rd Quarter 2020 last week. The company, which operates with an October 1 fiscal year date announced that revenues for the entire company increased 36% to $608 million for the quarter, but Net Income of $24 million was about one-third less than last year at this same time. You can access Hillenbrand Industries 3Q 2020 earnings press release here. Those numbers seem somewhat contradictory […]
Assurant Global Preneed division reports slight revenue increase, less operating income
Assurant defines itself as “a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases”. The company released its 2nd Quarter 2020 results on Tuesday, August 4, and in doing so reported a Net Income of $173.5 million, which is up 24 percent from the same period in 2019. Assurant also notes that it returned $65 million to shareholders in share repurchases and common dividends. You can see their 2nd Quarter 2020 report here. […]
Afternoon edition: Seeking Alpha opines on Service Corp post report. . . .other news
In today’s afternoon edition we bring you a Seeking Alpha article from BOOX Research that opines on and goes into the details on why it says Service Corporation International “has a positive long-term outlook supported by its market leadership position and solid fundamentals.” We also bring you information on an Iowa funeral home celebrating its 50th year in business, a report on how busy the funeral homes and crematoriums in Wales were during the height of the pandemic, and information […]
