Finance
Next week the United States Federal Reserve Board will meet in one of their eight yearly meetings. This group of monetary experts meets to discuss our country’s monetary policy and set the interest rate that the government charges banks for government funds. Virtually all other rates in the world are then set based on what…
Foundation Partners Group (FGP), headquartered in Orlando, Florida, announced earlier this week the acquisition of the three location Beers & Story Funeral Homes in Western Massachusetts. Here is the FGP press release pertaining to the acquisition. Beers & Story is a three generation firm that can trace its roots to the early 1900’s when Bert…
The state of Colorado has been a hotbed of funeral home and crematory acquisitions in the last couple of years. Many of the larger players in the death care space, Service Corporation International, Park Lawn Corporation, and Foundation Partners Group, have all made acquisitions in the state during that time frame. It was announced on…
InvoCare Limited, the largest public company in the death care space serving Australia, New Zealand, and Singapore reported half-year earnings which indicate that Operating Earnings after tax dropped 5.2% to AUS $22.3 million from last year’s AUS $23.6 million. In somewhat of an interesting note, Net Profits increased 97% to AUS $41.4 million because of…
We noticed a couple of articles in the news or opinion sections today about death care public companies StoneMor Partners and Park Lawn Corporation and just thought we would pass them on. StoneMor Partners to eliminate 340 positions. This article points out that StoneMor Partners will be targeting 340 positions as it attempts to eliminate…
Park Lawn Corporation (PLC), the Toronto based consolidator and operator of funeral homes and cemeteries reported their financial results for the 2nd Quarter of 2019, the period that ended June 30, 2019, yesterday. You can see a short synopsis of the results in this press release. Park Lawn’s CEO Andrew Clark is quoted in the…
United States funeral home and cemetery operator StoneMor Partners, L.P. reported financials for the 3 and 6 months ending on June 30, 2019, after the close of business yesterday. The company, which is in a self-proclaimed “turnaround” continued to report lower revenue numbers and larger net losses than last year for the time period, but…
Last week Matthews International, a multi-faceted United States public company based in Pittsburgh, Pennsylvania, reported 3rd Quarter results for their fiscal year which will end on September 30. The 3rd Quarter results are for the period ended June 30 and you can read the Matthews press release about the financial report for the 3rd Quarter…
Three months ago the 1st Quarter report of 2019 for funeral home and cemetery operator Carriage Services caused concern for many of their stockholders. In that quarter, same store revenue for funerals and profitability took a backward trend as did the number of atneed and preneed services conducted or contracted. That report led management to…
As we continue to move into the reports from Wall Street on how public companies have been doing for the first six months of 2019 we have a couple of items that we noticed in today’s news that we will present to you: Dignity PLC halts dividend: The British funeral home conglomerate announced on Wednesday…
