Finance

Finance

Article on Seeking Alpha Expects StoneMor Dividend Cut

An article that appeared on Seeking Alpha on September 2, 2017, concludes that StoneMor Partners will be forced to either eliminate or greatly reduce their quarterly dividend soon.  StoneMor, a Master Limited Partnership built through funeral home and cemetery acquisitions has seen its stock plunge from about $26 per share in 2016 to a close of $6.59 per share last Friday.  The company owns 317 cemeteries and 105 funeral home properties. The article lists four reasons why the author believes […]

Finance

DCI Value Down Again, Yield Continues to Rise

We took a look at the Funeral Director Daily Death Care Index (DCI) at the close of the market day on Friday, August 18, 2017, which is a three month time period from when we last looked at it on May 19.  The DCI Index, which consists of one share of six publicly traded death care industry stocks, has continued its downward value trend by closing at $261.55 as compared to a value of $265.59 on May 19.  The stocks […]

Finance Preneed

A.M. Best Upgrades Great Western Insurance Credit Rating

A press release from BusinessWire has indicated that the Great Western Insurance Company (GWIC) of Ogden, Utah, has had  A.M. Best upgrade their Long-Term Issuer Credit Rating to “bbb+” from “bbb”.  The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the Financial Strength Rating is stable. The release continues with “GWIC is a prominent insurer in the pre-need space through it extensive funeral home distribution network targeting the growing senior population.  GWIC […]

Finance

Hillenbrand Industries posts 7% Increase in Revenues

Hillenbrand Industries, the parent company of Batesville Casket Company, posted 3rd Quarter earnings yesterday and did so by showing an increase in revenues to almost $396 million for the quarter.  That represents a 7% increase over the same quarter in 2016 and puts their fiscal year 9-month revenues about $38  million (3.4%) over the same period last year. Hillenbrand, a global diversified industrial company that serves a wide-variety of industries across the globe, reported that they have a very positive […]

Finance

Assurant Pre-Need reports Higher Income, Lower Sales

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 […]

Finance

Matthews International Posts Solid Quarter

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 […]

Finance

FDD Reflections on 2Q Earnings of SCI and Carriage Services

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 […]

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 […]