Finance

Park Lawn Corporation Reports 1Q 2018

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After the close of business on Tuesday, May 15, Canadian death care consolidator Park Lawn Corporation reported their First Quarter results for 2018.  You can see a copy of their Press Release here.

Park Lawn reported revenues of $27,206,240 for the quarter compared to revenues of $18,802,424 for the same period of a year ago.  As you may know, Park Lawn has been busy in the acquisition realm which would cause revenues to increase, but they also noted in the press release that their “comparable” sales to Q1 2017 increased 3.1%.

Andrew Clark, Chairman and CEO said this, “Park Lawn Corporation (PLC) continued to show strong operating results for the first quarter of 2018. which were in line with management’s expectations.  Our business in Michigan was modestly ahead of expectations and we expect to see further improvement over the balance of the year.”

Funeral Director Daily take:  It is interesting for us to watch Park Lawn.  From our point of view, they are very aggressive in acquisitions.  We also believe that can be a good growth mode for a company but comes with the challenges of making the right decisions that lead not only to sales growth but bottom line and stockholder value growth over time.  The death care industry is becoming an ever increasing challenging industry and “right-sizing” an operation can be a difficult exercise.   We will continue to watch how Park Lawn manages its growth.

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