Finance
This 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,…
Read MoreAssurant is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases. In relation to the death care industry they are a provider of pre-need or what they call “pre-funded funeral insurance”. Assurant is a Fortune 500 company with a presence in 21 countries. They recently reported their…
Read MoreAcquisitions continue to be announced in the death care business. It seems that there are a lot of businesses where the ownership is ready to transition out of the profession and there is an ever growing number of neighbor, regional, and national providers of funeral and cremation care that are intent on getting larger. In…
Read MoreLast week funeral home and cemetery consolidator and operator Carriage Services reported their 3rd quarter results for 2019. After some disappointing results in the past year, the 3Q report was filled with enough upside results to put a little jump in the step of Carriage Service executives and stockholders. You can see the company results…
Read MoreAccording to this article and also verified on E-Trade, Axar Capital Management L.P. purchased 3,925,660 shares of StoneMor Partners L.P. stock on Wednesday, October 30, at an average share price of $1.00 per share. That share price indicated the 52-week low for the stock which had traded as high as $5.01 just over a…
Read MoreLast week we provided a link to where you could go to read the 3rd Quarter report on Service Corporation International. We will provide that link again here. Here’s what SCI President and CEO, Tom Ryan, commented on in that report. “. . .This solid funeral performance driven by an increase in funeral services performed…
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