Finance
Going back to this August article from Donnelly Financial Solutions they believe that merger and acquisition activities were low earlier in 2023 because, at least in part, “Rising interest rates made it unappealing to borrow money. Inflation shifted company focuses elsewhere. (and) Global volatility also swayed companies to press pause on M&A activity.” Nonetheless,…
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Service Corporation International (SCI) reported 3rd Quarter financial numbers for 2023 last week which we highlighted in Monday’s edition of Funeral Director Daily. Today, we perused the company’s earnings call of last week to try to find some insight into the questions those in the profession are asking at this point in time.…
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Service Corporation International (SCI) reported their 3rd Quarter of 2023 financial results last week. While their cumulative 6 -month report had revenues lagging behind the 2022 comparables, the 3Q 2023 report shows revenues increasing by 2.5% over the 3Q 2022 numbers — the 2nd consecutive quarter of increased revenue comparables. SCI pulled in total…
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Park Lawn Corporation announced yesterday in this press release that they have reached an agreement to sell at least 83 death care properties, consisting of 72 cemeteries and 11 funeral homes to Everstory Partners, the new brand of the former StoneMor company. Here’s what the press release states: “The divestiture includes 72…
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In an article that was published on October 1, and I’ll remind our readers that was before Park Lawn Corporation (PLC) had publicly withdrawn its $34 per share offer for Carriage Services, Seeking Alpha authors gave a positive review of Park Lawn Corporation. The article, which you can read here is entitled,…
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The 3rd Quarter of 2023 ended with the end of September and we thought it would be a good time to take a look at how the public companies in Death Care have held up over the course of the past quarter and past nine months. From our point of view it looks like…
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On Wednesday Funeral Director Daily told you of the Tuesday, October 2, press release of Park Lawn Corporation stating that it was withdrawing its all-cash offer to purchase all of the outstanding stock of Carriage Services. It also mentioned that it had declined to participate any further in Carriage Services’ “Review of Strategic…
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Yesterday Park Lawn Corporation issued a press release stating that “it has declined to participate further in Carriage Services, Inc.’s (NYSE: CSV) (“Carriage”) previously announced strategic review process and that it has withdrawn its all cash proposal to purchase the outstanding stock of Carriage.” The press release which you can read here also…
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This morning’s edition of Funeral Director Daily looked at the situation that death care companies could be in if inflation and the high interest environment we are in stay with us for some time. Interestingly enough, Seeking Alpha author Gustavo Larraga Tapia published an article last week where he opined that death care…
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We know where we have been as interest rates and inflation have moved upwards in the last two years. . . but, do we know where we are headed with those items and how their future directions will affect our businesses going forward? I found some information that may be helpful to…
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