World-wide niche insurance conglomerate Assurant reported slightly higher Net Operating Income for the 2017 2nd Quarter over the same quarter last year.They also reported higher income by 13% in the Global Pre-Need segment over the same quarter one year ago. Pre-Need income was up according to the company statement due to higher fee and investment income. They also note that increased income was driven mainly by increased volume in Canada. Assurant also reports that, according to the same quarter last […]
Worldwide conglomerate Matthews International posted expected in-line earnings of $1.05/share as compared to $0.97/share for the same quarter a year ago. Quarterly revenues were $389.6 million as compared to $382.1 million last year and quarterly profits were $29.5 million as compared to $23.9 million. You can see their Press Release here. Management reflected that higher sales and profits were a result of growth in sales of cemetery memorials and cremation equipment among other factors. For the 3rd quarter of Matthew’s […]
It’s always interesting to look at the earnings reports of the Death Care industry’s public companies and try to not only glean how those companies are doing, but, what does this mean for my independent funeral home. I think, as I’ve read the reports Wednesday night and into Thursday, this quarter is no exception in trying to find some similarities and/or trends. As reported yesterday one company (SCI) surprised to the upside with earnings and one company (Carriage) disappointed to […]
On Thursday, July 26, funeral home consolidators Carriage Services and Service Corporation International both reported 2nd Quarter earnings. Carriage Services came in at a diluted per share income of $0.30 when they had estimated an income of $0.40 per share. Their stock lost 1.16% to close at $26.49 for the day on the news. You can read their press release here. Service Corporation International surprised on the upside with earnings at $0.35 per share when they had estimated a per […]
Global pre-need provider, Assurant, traded at a yearly high yesterday of $106 per share. You can read about it here. Today also tips off earnings week releases of most companies in the Death Care Index (DCI). Carriage Services and SCI will report after market close today followed by Matthews International tomorrow. Assurant and Hillenbrand Industries will be reporting next week. Stay tuned in the next week as Funeral Director Daily will cover the reports and analyze what is going on […]
I woke up Tuesday morning and noticed that Stonmor’s stock had plunged almost 11%. In checking it out I noticed that the company issued a statement that they are in technical default on their revolving credit agreement and they mentioned that they may have more adverse events occur in mid-August. The stock was trading at Monday’s close at $7.97 — that is down from a high of over $25 just over a year ago. All analysts that follow Stonmor have […]
I’m using Friday’s column to catch up with some things I’ve seen in the industry concerning acquisitions over the past 2-3 weeks. It’s interesting but not surprising that we continue to see acquisitions in the industry over that time period. In the last three weeks we have seen: Thacker Casket acquire Madison Casket Company. According to the Press Release this will give Thacker an opening to funeral homes in Mississippi and Louisiana. The release also notes that this is Thacker’s […]
MarketBeat recently published this comparison of StoneMor Partners vs. Carriage Services.
On June 23 Weekly Hub reported the consensus of analysts who cover funeral industry public company Carriage Services (CSV) are anticipating an announcement of earnings of $0.40 per share when announced in about a month on July 25. They suggest that this would be a slight increase from the $0.37 EPS from the companies last quarter.
Just the other day an article on SeekingAlpha.com came out reporting on the status of public funeral home consolidator Service Corporation International (SCI). As I’ve said before I’ve always kept up with the public companies in the death care industry because by following them I’ve learned things that have improved my own small business. I would suggest that you read the entire article on SeekingAlpha.com but here are some of the highlights that I gleaned from the article. SCI has […]