Finance

Carriage Services closes Senior Notes Offering

By Funeral Director Daily / June 5, 2018 /

  Carriage Services, a publicly owned death care provider that according to its web-site owns and operates 178 funeral homes in 29 states and 32 cemeteries in 11 states, announced last week that they have closed a Senior Notes Offering and entered into a new Senior Secured Revolving Credit Facility.  You can read the company’s…

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Is Funeral Service an “Unappealing” Industry?

By Funeral Director Daily / May 30, 2018 /

I’ve always been intrigued by the stock market.  I can remember over 50 years ago talking to my dad about what he thought was the end-all when looking at companies to potentially invest in.  For him it was the P/E ratio.  Dad always wanted the stock to have a P/E ratio of 15 or less…

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Security National Memorial segment increases Sales and Profits

By Funeral Director Daily / May 21, 2018 /

Last week, public company Security National Financial Corporation reported the results of their First Quarter of 2018.  In the press release that you can read here they report that two of their three operating segments had increases in sales and profits on a year over year basis. As you may recall, Security National Financial Corporation…

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Park Lawn Corporation Reports 1Q 2018

By Funeral Director Daily / May 17, 2018 /

  After the close of business on Tuesday, May 15, Canadian death care consolidator Park Lawn Corporation reported their First Quarter results for 2018.  You can see a copy of their Press Release here. Park Lawn reported revenues of $27,206,240 for the quarter compared to revenues of $18,802,424 for the same period of a year…

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Legacy Funeral Group Announces Texas Acquisition

By Funeral Director Daily / May 15, 2018 /

Last week the Legacy Funeral Group announced the acquisition of the Charlie Marshall Funeral Homes.  The Charlie Marshall Funeral Homes were founded in 1949 and have served the Texas communities of Aransas Pass and Rockport for over 65 years.  You can read a press release on the transaction here. According to the press release, the…

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Park Lawn completes Signature Deal

By Funeral Director Daily / May 9, 2018 /

At the close of business Monday, May 7, Park Lawn Corporation announced that it had completed its announced purchase of Signature Funeral and Cemetery Investments, LLC (the Signature Group) for approximately US$123 million.  You can read the press release from Stockhouse here. According to Park Lawn CEO Andrew Clark, “With the acquisition of Signature Group,…

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A.M. Best Affirms Assurant Pre-Need Carrier Ratings

By Funeral Director Daily / May 8, 2018 /

In a release from A.M. Best that you can read here the company has affirmed the Financial Strength Rating (FSR) and the Long-Term Credit Ratings (ICR) of the life and health subsidiaries of Assurant, Inc.  The FSR rating was affirmed at A- (Excellent) and the ICR rating was a-.  The company’s outlook was listed as…

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Hllenbrand Reports 2Q 2018, Batesville Revenues Increase

By Funeral Director Daily / May 7, 2018 /

Hillenbrand Industries reported 2nd quarter results last week.  Hillenbrand, long known as the parent company of Batesville Caskets, has been, of late, driven by its entry into the Processed Equipment arena.  The company reported a net loss for the quarter which was the result of taking a $63 million dollar charge against the carrying value…

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Matthews International Posts Solid 2Q Earnings

By Funeral Director Daily / May 4, 2018 /

Death care conglomerate Matthews International, based in Pittsburgh, Pennsylvania, posted their 2nd quarter earnings report of Fiscal Year 2018 last week.  Here’s what President and CEO Joseph C. Bartolacci said of the report, “The company’s results for the fiscal 2018 second quarter were in line with our internal expectation and we are on track to…

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Seeking Alpha Article on StoneMor Partners

By Funeral Director Daily / May 3, 2018 /

I present you this article published yesterday from investor opinion site Seeking Alpha on the potential upside of StoneMor Partners.  It is a good read and, like most articles pertaining to the death care industry, there is something to take from it. Funeral Director Daily take:  I will tell you, however, as a 35 year industry…

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