Finance
In a press release issued last week Foundation Partners Group announced that it had purchased a group of funeral and cremation operations. The group consists of three business, that were owned by one party, known as Advent Funeral and Cremation Services with locations in Falls Church, Virginia, and Lanham, Maryland. Also included in the purchase…
Read MoreWe said almost two years ago that the best way for funeral home and cemetery operator StoneMor Partners L.P. to right their ship was to divest themselves of some properties and use the cash proceeds to pay down debt so that they can get to a position where they are operating in a financial positive…
Read MoreCarriage Services, the Houston based funeral home and cemetery operator made a big announcement after business hours on Monday. The company issued a press release which highlighted not only the acquisition of, what they say in the release is the largest by a combined revenue definition, acquisition in their 28-year history, but also announced personnel…
Read MoreMatthews International reported their 4th Quarter and 2019 fiscal Year Sales last week. The Pittsburgh based public company includes in its portfolio, as one of three business segments, a Memorialization unit that includes Matthews Cremation, Aurora Casket, and Star Granite which are of interest to the death care industry. You can access the Matthews International…
Read MoreLast week Park Lawn Corporation CEO Andrew Clark and CFO James Leeder commented on the company’s 3rd quarter results and also took questions from analysts about the company’s performance. You can read the transcript here. I have, however, taken the liberty to pull out some of the comments that we thought would be of the…
Read MoreThis afternoon we will bring you a couple of items that recently appeared in print publications about public companies in the death care business. From the Philadelphia Business Journal we bring you this article on StoneMor Partners. It is entitled, “StoneMor slims down executive ranks, plans divestitures for bid for profitability”. We believe it is a…
Read MoreLast week Canadian based public company funeral home and cemetery operator Park Lawn Corporation released its 3rd Quarter and 9-month results for 2019. You can see them here. The fast growing company reported 2019 3Q revenues of $66.5 million as compared to 2018 3rd Quarter revenues of $43.2 million. . .an increase of 54%. They…
Read MoreHillenbrand Industries, parent company of Batesville Casket company reported earlier this week that Batesville’s fiscal 4th Quarter sales (July, August, September) were essentially flat from the prior year. You can see Hillenbrand’s 4th Quarter and Year End report here. Hillenbrand Industries reported quarterly revenue of $486 million — an increase over 4Q 2018 of 2%. …
Read MoreThere are a lot of reasons that businesses, including funeral homes, change operational and ownership hands. Sometimes a single proprietor gets a price that he just can’t turn down. Sometimes a single proprietor just wants to retire and either has no family to go into the business or family that wants to pursue other goals…
Read MoreStoneMor Partners L.P. reported their 3rd Quarter and 9-month 2019 numbers last week and with it showed significant progress in their attempt at a transformational turnaround of the company. In brief, StoneMor reported that revenues are stabilizing, that they are cutting recurring expenses, and that they have made progress on a divestiture process that will,…
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