Finance

Finance

Propel Funeral Partners raises capital, announces Share Purchase Program

Propel Funeral Partners of Australia and New Zealand announced last week, in this announcement, that they had raised $AU 50.2 million via a placement with institutional investors.  They also announced that they are offering eligible existing shareholders the opportunity to purchase a total of up to $AU 10 million via a share purchase plan. Here’s what Albin Kurti, Managing Director of Propel said in the release, “We are delighted by the support received from Propel’s existing institutional shareholders and to […]

Finance

Zacks Research previews SCI earnings report

We found this report, dated October 21, interesting from Zacks Equity Research.  Here’s an interesting couple of lines from the report. . .”SCI is likely to display year-over-year declines in the top and bottom lines, when it reports third-quarter 2021 numbers on Oct 27. The Zacks Consensus Estimate for revenues is pegged at $800 million, suggesting a drop of 12.9% from the prior-year quarter’s reported figure.” Service Corporation International is expected to report 3rd Quarter earnings on October 27 (tomorrow). […]

Finance

Retail death care stocks lead the run-up

On Friday the Dow Jones Industrial Average (DJIA) set a new record high by closing at 35,677.  On January 1, 2021, the DJIA stood at 30,606 so that high on Friday indicates a 16.6% increase year to date for 2021.  That’s pretty impressive. . . . and the NASDAQ closed Friday up 19.1% year to date and the S & P 500 index also closed on that date with a 20.9% increase year to date. Pretty impressive. . . but […]

Finance

Park Lawn Corporation announces three acquisitions

Toronto-based Park Lawn Corporation, a funeral home and cemetery owner and operator, announced in this press release last week that it had acquired three businesses which constitute an addition of six stand-alone funeral homes, one stand-alone cemetery, three combination funeral home/cemetery properties, and five event centers.  All businesses are located in their growing North Carolina and Tennessee market areas. The companies acquired include Pugh Funeral Homes and New Hope Memorial Gardens in North Carolina, Smith Funeral & Cremation Service and […]

Finance

Wilbert acquires Continental Casket Company. . .more growth hinted

Wilbert Funeral Services, Inc. announced last week that they had acquired certain assets of the Continental Casket Company of Watseka, Illinois.  According to a press release received by Funeral Director Daily, “Continental is a regional distributor of metal and wood caskets with three warehouses serving funeral professionals in Illinois and areas of Indiana, Iowa, Kentucky, and Missouri.” According to Don Robinson, President of Wilbert’s Casket Division, “Continental is a great brand in the mid-west with a history of top quality […]

Finance

Seeking Alpha adds commentary on SCI as an investment

Recently we found this article written by Daniel Jones for Seeking Alpha.  In the article he brings out the pros and cons of an investment in Service Corporation International. One question that he asked in the article when considering that Service Corporation International has greatly increased its gross revenues is this, “On its face, all of this (Revenue) is great. But a legitimate question is how much of this is attributable to an aging population that will continue to serve […]

Business Finance

A rise in case counts — Jake Johnson on how that can impact funeral home value

Editor’s Note:  A recent article that we published on the increasing United States death rate brought commentary from Jake Johnson of Funeral Director Daily sponsor Johnson Consulting Group.  Here’s Jake’s take on what increasing death rates may mean to your funeral home: A recent article by Funeral Director Daily was published on the national death rate in the U.S., with the expectation of climbing and no signs of normalizing soon. According to the Trustees of the Social Security and Medicare […]

Finance Products

Death tech app Empathy raises $30 million in Series A funding

A relatively new death tech app, Empathy, recently raised $30 million in Series A funding according to this article from Tech Crunch.  The product is designed to help bereaving families navigate the choppy waters  that result when a family member or someone close to them dies. “Empathy is a customer-centric company with compassion at our core. We aim not only to help families who are dealing with loss but also to act as a catalyst for change in the industry […]

Finance

Park Lawn Corporation adds acquisition

It was announced last Friday that Park Lawn Corporation had acquired the Malcolm, Deavitt & Binhammer Funeral Home Limited.  The one building standalone funeral home is located in Pembroke, Ontario. The funeral home, according to this press release from Park Lawn Corporation, “performs approximately 153 calls per year.” Here’s what J. Bradley Green, Chief Executive Officer of Park Lawn said about the transaction, “This is an excellent opportunity for Park Lawn to expand its footprint in Ontario as we continue […]

Finance

Will Axar take StoneMor private?

As you can see from this Yahoo Finance article, Axar Capital Management has sent StoneMor Inc. a letter expressing “an interest in pursuing discussions concerning strategic alternatives that may be beneficial to the Company and its various stakeholders.”  As you may know, and according to E-Trade, Axar Capital Management currently owns 88.6 million of the 118 million common shares of StoneMor Inc.  Those 88.6 million shares represent over 75% of the outstanding common stock. StoneMor Inc. is a Pennsylvania based operator […]