Park Lawn reports Q2 results

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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 release, “PLC delivered strong per share growth for our shareholders through solid operating results for the first half of 2019.  PLC continues the successful execution of its business plan focusing on acquisitions and organic growth initiatives, while maintaining its focus on the integration of its U.S. businesses.”

The press release also highlights five acquisitions in the United States that PLC closed during the quarter.

Here are a couple of financial highlights we noticed:

  • Revenues for the quarter increased 45.2% over the same period from a year ago.  2019 2Q revenues were $58.5 million as compared to 2018 2Q revenues of $40.3 million.
  • Adjusted net earnings for the quarter were $0.19 as compared to $0.182 in the same quarter of 2018.  For the first six months of 2019 adjusted net earnings were $0.41 as compared to $0.36 for the same period in 2018. . that’s an increase of 13.4%
  • PLC states that “comparable” business units increased revenue by 3.5% over the same quarter of a year ago.

According to E-Trade, while the company did provide adjusted net earnings of $0.19 per share, that was under the analysts consensus estimates of $0.245 per share.

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