Upon the heels of a very profitable quarter and yearly report of funeral and cemetery consolidator Carriage Services, Moody’s Investor Services last week raised the credit rating of the company as you can see in this article here. A better credit rating should drive down borrowing costs for Carriage Services and, according to the Year End 2020 Annual report, Carriage Services management is counting on that to lower cash outlays for those needs. It’s also very interesting as to what […]
In a press release that you can read here you can find out that Houston, Texas, based funeral home and cemetery consolidator Carriage Services recorded record results not only for the 4th Quarter of 2020 but for the full year of 2020 as well. Not only did Carriage Services record these record financial results, they exceeded the 2022 plan that they had set in their five year milestones only a year ago. In essence they passed that 2022 goal two […]
In a report from last week, MarketBeat made comments about the stock of Carriage Services. You can read the article here where MarketBeat states that one analyst rates Carriage Services a “Sell”, one analyst reports Carriage Services a “Hold”, and three analysts rate the company a “Buy”. The report also points out, over the past month or so, which company executives have bought the stock and which company executives have sold the stock. According to the article, “Corporate insiders” own […]
There are a lot of reasons that people may look to get the year 2020 in their rearview mirror. However, when you look individually at the performance of the public companies in the death care realm for the calendar year, my guess is that almost all of them would be happy to repeat the year’s performance in 2021. The trend among the public companies in 2020 could certainly be classified as COVID, leadership, and lawsuits. And, who would have thought […]
I was very fortunate as a youngster because I was schooled on investments and the market by my father. Giving me, what is now termed “financial literacy”, is one of the greatest gifts I have ever received. As a matter of fact, as a board member of a Big Ten institution, I have pushed our academic department, with the students’ blessing, to have a required course on Financial Literacy for all students during their Freshman year. It has not been […]
We checked into Funeral Director Daily’s proprietary Death Care Index (DCI) after the markets closed on Monday, the last day of November. That check-in allowed us to take a look at the eight stocks that make up the DCI and see where they were individually and as a group and how that group compared to the Dow Jones average, the S & P 500, and the technology based Nasdaq. And, while the Dow Jones counted November 2020 as its best […]
Earlier this week funeral home and cemetery consolidator Carriage Services, based in Houston, Texas, produced their 3rd Quarter 2020 report and in it they recognized the quarter as record breaking for revenue and EBITDA. According to Chairman and CEO Mel Payne the company blew through milestones which they did not expect to reach until sometime in 2022. Here’s some of what CEO Payne had to say, “The last six months have been a remarkably historic performance period for Carriage, as […]
I was talking to a colleague about a recent funeral home acquisition and asking what he thought of the transaction. His comment startled me in that he said, “I hope they didn’t pay too much because no one dies in that community anymore.” His implication was that the community we were discussing has became known as a “tourist and 2nd home area” and that, as not a place of main residences, the death rate per thousand is on the low […]
StoneMor, Inc., the Philadelphia area based operator of funeral homes and cemeteries, announced in this press release on Friday, July 31, that they are in receipt of a 2nd offer from a company that would seek to take the company private. If you remember, earlier this year, Axar Capital Management offered the company $0.67 per share to acquire the company. That offer was rejected by StoneMor in June as, according to the press release, an inadequate price. Axar Capital Management […]
North America’s largest public purveyor of death care services, Service Corporation International (SCI), released its 2nd Quarter 2020 results on Wednesday. In a nutshell, they produced somewhat better than what was expected results in this COVID-19 environment. You can read their full 2Q 2020 report here. SCI reported revenues for the quarter of $820 million as compared to the same quarter in 2019 when they reported revenues of $812.6 million. On that revenue the company produced $182.3 million in operating […]
