Today is already the first week day of June 2024. . . . At least in my part of the world Summer is in full-swing.  And as we move into June we are leaving all the Death Care news of May behind us and heading into the final month of the 2024’s 2nd Quarter.

 

The month of May was somewhat unusual as far as news about the public companies in Death Care goes. . . . Every single one of the five public “Death Care” companies reported financial news for their 1st Quarter of 2024 in May.  And probably more so than any other quarter that I can remember, significant moves, or advances, were made by the individual companies leading to speculation on what might happen going forward. . .

 

For instance, in a quick-look, Service Corporation International appears to be looking forward to again pursuing all acquisitions without the FTC approval as the 10-year Stewart Enterprises agreement comes to an end.  Carriage Services celebrated their first $100 million revenue quarter, Park Lawn Corporation is a leaner and more nimble company going forward after selling over 80 business units to Everstory Partners.  Matthews International continues to look more and more like the old Hillenbrand Industries — from my point of view using its memorial business and cash-flow to grow other non-death care related segments.  And, Security National Financial appears to be growing its “Death Care” revenue on its way to being a major player in the “greater” death care space as it moves forward with multiple business units operating in the death care universe.

 

We thought that with this first column of June we would highlight what those companies reported during the month of May. . . and also recap news from a private company, Foundation Partners Group, that also had significant news.  So, in order of the day that their financials were reported, here is the article printed by Funeral Director Daily on each of the Death Care Index quarterly reports. . .

 

• SCI’s 1Q2024 results point out some Death Care headwinds

 

• Carriage Services CEO Quezada on 1Q Financials:  “A significant milestone for Carriage’s history”

 

• Matthews works through “flat-market” quarter

 

• Park Lawn enters 2024 “Leaner” and more reliant on the “Funeral side” 

 

• Security National Financial Cemetery/Mortuary earnings rise 71%

 

And the news from Foundation Partners Group that will eventually have an effect on Death Care going forward:

• A Transition in Leadership at Foundation Partners Group

 

I’ve always been a big believer that those of us in the small business funeral home business can learn much from reading about and looking at the direction that the big national players are moving.  They have multiple facilities in multiple communities around North America and should be able to see the trends coming into play before the small, individual operators.

 

Knowing what is happening with the big players as far as “Revenue per call” or “Cremation/Burial mix” can be of help to how you manage your own small funeral business. . . . Funeral Director Daily will continue to be the leader in reporting what is happening on the “Big Stage” so you can take advantage of that information.

 

More news from the world of Death Care:

• Most people want to be cremated, new research shows.  Yahoo News – Bristol Live (United Kingdom)
• Local service expands operation.  Warwick Advertiser (NY)
• Zygmunt-Murtie Funeral and Cremation Service website
• 2024 Insurance Dishonesty Report.  Nerd Wallet
• Generational Businesses:  Roller Funeral Homes remains steadfast in committment to customers.  Arkansas Money & Politics (AR)
• Funeral industry concern “not limited” to Hull, says government.  BBC  (Great Britain)

 

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