Finance

Finance

Carriage Services, SCI Report Earnings Yesterday

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 […]

Finance

Assurant Trades at All-Time High

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 […]

Business Finance

Funeral Home News from Wall Street

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 […]

Finance

Industry Acquisitions Continue to Follow Trends

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 […]

Finance

Service Corporation International Rolling Along

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 […]

Finance Preneed

Get to know Assurant

As you are probably aware of we at Funeral Director Daily have built up our own index of public stocks which reflect six companies with, at least a part of their business entity in the Death Care profession.  Our hope is that by watching this index, and how the companies operate, we can learn something of value to bring to each of us in the industry. Yesterday I noticed an interesting item about Assurant, one of those six stocks, mentioned […]

Finance

DCI Value Slightly Down, Yield Up

We last visited the Death Care Index (DCI) following the March 3, 2017 market close.  At that time the value of one share of each of the six death care industry stocks that make up the index totaled together would have equaled $269.84 with an annual dividend of $5.66 for a 2.06% yield.  As of the close on Friday, May 19, the DCI was valued at $265.59 with an annual dividend of $5.74 for a 2.16% yield. In the world […]

Business Finance

StoneMor Names New CEO and CFO

On Wednesday, May 17, StoneMor Partners took some steps to reverse the fortunes of their company when they named a new CEO and a new CFO to replace departed CFO Sean McGrath and CEO Lawrence Miller.  StoneMor has been plagued for over the last year with quarterly losses, decreased cash flows, and a cut of its dividend to shareholders. According to the Philadelphia Business Journal the company named former utility company executive Paul Grady as its new CEO and Mark […]