Generational Equity Announces Sale of Weerts Funeral Home to SCI

By Funeral Director Daily / February 15, 2017 /

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,…

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SCI fourth quarter earnings beat estimates.

By Funeral Director Daily / February 13, 2017 /

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…

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Stonemor Issues Update on Sales Team Development

By Funeral Director Daily / February 8, 2017 /

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,…

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Batesville Casket 1Q 2017 financials down slightly

By Funeral Director Daily / February 7, 2017 /

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…

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Motif Investing Bullish on Funeral Industry

By Funeral Director Daily / February 7, 2017 /

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.  

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Matthews Memorialization Flat in 1Q 2017

By Funeral Director Daily / January 26, 2017 /

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…

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StoneMor Partners L.P. Issues $20 million private placement

By Funeral Director Daily / January 3, 2017 /

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…

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Carriage Services Acquires Rich & Thompson Funeral Services in North Carolina

By Funeral Director Daily / November 15, 2016 /

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.…

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