Finance
On Tuesday, April 24, publicly owned death care industry company, Carriage Services, announced its 1st Quarter 2018 results. You can read their press release with financials included here. The company announced record revenues of $73.4 million for the quarter. That is a 7.7% increase over the same period of a year ago. Funeral Director…
Read MoreWhile not specific to the death care portion of their industry, A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) for the U.S. property/casualty subsidiaries of Assurant, Inc. The credit rating company has also affirmed the Long-Term Issuer Credit Ratings of Assurant at bbb+. Best continues that the outlook of these Credit…
Read MoreWhen Funeral Director Daily made our 2018 predictions, one that we made was that we thought Canadian funeral and cemetery operator, Park Lawn Corporation, would be aggressive in building its network of funeral homes and cemeteries in the United States. If you did not agree even when they made a purchase of approximately $US…
Read MoreFuneral Director Daily: As we do from time to time, I have included an article that was put out yesterday by Kenny Robinson of Seeking Alpha on Service Corporation International. The article, that you can read here, is an in-depth investment piece that I put out with no opinion other than to say it is…
Read MoreAt least one source, Zack’s Investment Research, predicts an upside earnings report for Matthews International when they report earnings for the quarter ended on March 31, 2018, on April 26. Zack’s estimates an earnings of $0.89 per share as compared to earnings of $0.84 per share for the same quarter last year and $0.64 per…
Read MoreSecurity National Financial Corporation, the Salt Lake City company that competes in the to the consumer funeral and cemetery business reported that their corporate “after tax” earnings from operations increased 15.8% year over year from 2017 and 2016. Those earnings came on a roughly 9% system wide decrease in revenues. Pre-tax earnings were less than…
Read MoreAn article by ABC News Australia writer Carrington Clarke investigates the competition level of the business in Australia. I read the article, which you can read here, and found it asked a lot of interesting questions that pertain to funeral service in North America also. The crux of the article is that public company…
Read MoreStoneMor Partners issued a press release last week that it will not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 by its due date of April 2, 2018. They are seeking a waiver to extend the date by which the Form 10-K must be filed. You can read…
Read MorePark Lawn Corporation, the Toronto based funeral home and cemetery consolidator, released their 4th quarter and Year End 2017 results last week. Andrew Clark, Chairman and CEO of the company stated in the release, “Overall the company continued to grow in 2017, while improving its margin profile.” He continued, “Our goals for 2018 include increased…
Read MoreIt was announced this week that Service Corporation International and the Archdiocese of New Orleans will collaborate on a plan to build a funeral home and cemetery on land owned by the Archdiocese in New Orleans. You can read the press release from Globe News Wire here. The combination unit, which will also have mausoleum…
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