DALLAS, Feb. 14, 2017 /PRNewswire/ — Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Weerts Funeral Home, Inc., headquartered in Davenport, IA, and Riverbend Cremation Service, LLC, in Bettendorf, IA, to Service Corporation International, headquartered in Houston, TX. The acquisition closed February 1, 2017. Details were not disclosed. Weerts Funeral Home was founded in 1909 and had been acquired from the Weerts family in 2005 by David Deuth. […]
Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, issued fourth quarter 2016 financials. Here are the highlights. Quarterly revenue increased by 5% to $809 due primarily to an increase in cemetery preneed revenue. SCI funeral home revenues were flat. Net income declined by 11% to $66 million in the fourth quarter of 2016 due to higher tax rates related to business divestitures, a pension termination settlement and an adjustment of deferred tax […]
REVOSE, Pa., Feb. 08, 2017 (GLOBE NEWSWIRE) — StoneMor Partners L.P. (NYSE:STON) (“StoneMor” or the “Partnership”) today provided additional data on the ongoing restructuring of its sales force. Total salespeople within the salesforce at January 31, 2017 numbered 766, which was 81 more than the prior year comparable period. The salesperson count at January 31, 2017 also reflects an increase of 14 individuals from the 752 reported at December 31, 2016. The number of salespeople who made a sale during […]
Hillenbrand announced earnings for the first quarter of fiscal 2017 (three months ended December 31, 2017). The company’s Batesville casket business had a 2% decline in revenue and a 3% decline in EBIDTA (earnings before interest depreciation and amortization). You can download the earnings slides here. You can read the Seeking Alpha earnings call transcript here. Batesville Casket revenue declined 2% top $135 million during the first quarter of 2017. The decrease was due to lower burial sales. CEO […]
Motif Investing is bullish in the funeral industry for two reasons: aging baby boomers will increase the demand for funerals and cremations between now and 2036; and 80% of funeral providers are private which provides room for consolidation.
Matthews International announced revenue for the first quarter of fiscal 2017 (3 months ended December 31, 2016). You can read the earnings release here and the Seeking Alpha earnings call transcript here. Funeral Director Daily will focus on the performance of the company’s memorialization segment which produces headstones, caskets and urns. Memorialization sales declined by 1.3% to $146 million during the first quarter of fiscal 2017 as a decline in casket sales offset an increase in memorial products sales […]
TREVOSE, Pa., Jan. 03, 2017 (GLOBE NEWSWIRE) — StoneMor Partners L.P. (NYSE:STON) (“StoneMor” or the “Partnership”) today announced that on December 30, 2016, StoneMor GP Holdings LLC, the sole member and owner of the general partner of the Partnership, acquired 2,332,878 common units representing limited partner interests of the Partnership in a private placement for $20.0 million, or a twenty-day, volume-weighted average price of approximately $8.5731 per unit. The proceeds were initially used to pay down borrowings under the Partnership’s […]
HOUSTON, Nov. 15, 2016 Carriage Services, Inc. (NYSE: CSV) is pleased to announce that we have partnered with Rich & Thompson Funeral Services in the Strategic Market of Raleigh/Durham/Greensboro in North Carolina. Dating back to 1913, the Rich & Thompson name has been a prominent name in funeral service in both Burlington, NC and Graham, NC. At their current locations of Burlington, NC since 1935 and Graham, NC since 1957, the two businesses serve over 550 client families annually and have […]