Finance
On Wednesday, May 17, StoneMor Partners took some steps to reverse the fortunes of their company when they named a new CEO and a new CFO to replace departed CFO Sean McGrath and CEO Lawrence Miller. StoneMor has been plagued for over the last year with quarterly losses, decreased cash flows, and a cut of…
Read MoreI just read an article on something you don’t see very often in the funeral industry. An article that was posted in the Times Herald Recordonline from Orange County, New York, pertained to the bankruptcy case, and hopeful solution to it, of a funeral business from that area. The article is about Mr. Anthony Ingrassia…
Read MoreA recent press release by Homesteaders Life Company, a funeral industry pre-arrangement company, announced that a succession plan for the leadership of the company was recently passed at their May 2017 meeting. Using forward thinking the board accepted CEO Stephen Lang’s pending retirement in March 2018 and approved the plan to have COO Stephen Shaffer…
Read MoreIn a Press Release dated April 26, 2017, Service Corporation International announced that they earned $0.38 per share in the first quarter as compared to their 2016 result of $0.28 for the same time period. Tom Ryan, the company’s CEO explained, ” Strong preneed cemetery sales production and an increase in funeral services performed were…
Read MoreAccording to a Carriage Services Press Release of April 26, 2017, the company posted record revenue results for the First Quarter of 2017. Carriage announced that their revenue for the first three months of 2017 was $68.1 million as compared to last years $63.3 million for the same time period — an increase of 7.6% Earnings…
Read MoreAustralia’s largest operator of funeral homes, InvoCare, will be closing its small United States funeral business that it began in 2015 according to an article in the Australian Financial Review Weekend. The company’s American funeral business is headquartered in Los Angeles and used a business model where it relied on digital advertisers to lead client…
Read MoreScott Moore had a nice write-up in the Cerbat Gem Market News and Analysis on death care industry stock Carriage Service. Among other things he pointed to their most recent 13F filing that showed Russell Investment Group bought over $3 million worth of the stock in the 4th quarter of 2016. The article points out…
Read MoreToday we introduce the Funeral Director Daily “Death Care Index” or DCI of the public equity markets. The DCI will consist of six publicly traded companies that deal in the funeral, cremation, cemetery, and pre-need industries and are publicly traded. The companies, which we will describe below, include Matthews International, Service Corporation International, Carriage Services,…
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