Finance

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 […]

Finance

Checking in on the DCI. . . up over 10% year to date

The last time we checked in on Funeral Director Daily’s proprietary Death Care Index (DCI) was in this article from January 4, 2021.  At that time we noted that the stock index of companies in the death care realm had a total return (capital appreciation plus dividend) of about 6.85% for the calendar year of 2020.  We mentioned that was not as high as the returns of the NASDAQ index or the S&P 500, but it was a solid “grind […]

Business Finance

Australian funeral homes fare much differently than U.S. counterparts

The COVID-19 pandemic during the year 2020 and how countries geographic location and national responses to the situation could not be more different than you see in recent publicly owned funeral home companies’ annual reports. We’ve reported on the results of the United States Service Corporation International (SCI) and Carriage Services both in the last week.  At the end of last week we received early data and results from the two largest public funeral home operators in Australia and New […]

Business Finance

Where is the money going in Death Care

I recently read an interesting article, authored by funeral industry veteran Doug Gober, in the Memorial Business Journal published for members by the National Funeral Directors Association.  Gober, who’s been around the profession for a long time gave an interesting sequence of events beginning with when money flowed into the profession from the public companies. He continued by telling us that it is not only the large companies that have access to capital in this day and age, but smaller […]

Finance

Moodys upgrades Carriage Services. . . . can you find savings in financing?

Upon the heels of a very profitable quarter and yearly report of funeral and cemetery consolidator Carriage Services, Moody’s Investor Services last week raised the credit rating of the company as you can see in this article here.  A better credit rating should drive down borrowing costs for Carriage Services and, according to the Year End 2020 Annual report, Carriage Services management is counting on that to lower cash outlays for those needs. It’s also very interesting as to what […]

Finance

Carriage Services reports 2020 year. . . shows the trends

In a press release that you can read here you can find out that Houston, Texas, based funeral home and cemetery consolidator Carriage Services recorded record results not only for the 4th Quarter of 2020 but for the full year of 2020 as well.  Not only did Carriage Services record these record financial results, they exceeded the 2022 plan that they had set in their five year milestones only a year ago. In essence they passed that 2022 goal two […]