Tag: Carriage Services

Finance

Carriage Services posts record 3Q revenue and EBITDA

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 […]

Business

Is the Demographer the most important person in the corporate funeral office complex

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 […]

Afternoon Edition Finance

Afternoon edition: StoneMor receives 2nd offer to take it private. . . .and more news from the death care universe

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 […]

Finance

Service Corporation reports 2nd quarter. . . cemetery preneed impressive

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 […]

Finance

Carriage Services records record 2nd Quarter Revenue

Carriage Services reported their much anticipated 2nd Quarter of 2020 results on Tuesday.  You can get a copy of their press release here. The company, as well as other companies in the death care index are reporting their 2nd Quarters as their first full three month period of dealing with deaths and memorializations in the COVID-19 period.  For that reason, many are interested in seeing how their results were affected due to the issues around COVID-19 and funeral service. Those […]

Finance

Finance articles on Carriage Services, more

The Funeral Director Daily afternoon edition for today contains a couple of finance opinion articles written for Seeking Alpha on funeral home and cemetery operator Carriage Services, a short note on Park Lawn Corporations placement of 5.75% debentures, and some guidance from our friends at Clifton Larson Allen with regards to COVID-19 relief plans for retirement plans. Carriage Services:  Just a 2% dividend yield, but a 17% free cash flow yield. Carriage Services:  A funeral service provider that is growing […]

Finance

Into earnings season. . . what can we expect?

We’ve now moved into the 3rd Quarter of 2020 and, needless to say, it has been a different year.  I recently read an article from Barrons.com that put the year into perspective and also asked famed stock prognosticator Mario Gabelli to comment on where we are going from here.  Gabelli is the Founder, Chairman, and CEO of Gabelli Asset Management. On the backdrop of this article I thought I would give my perspective on what we might see from the […]

Finance

Goetz to leave Carriage Services?

This morning we noticed a news release from Market Exclusive that you can see here pertaining to a K-1 filing from Carriage Services.  The filing informed the public that effective June 26, 2020, President and Chief Operating Officer William W. Goetz had resigned from those positions at Carriage Services as well as had resigned from a seat on the Carriage Services Board of Directors. The filing states in part, “The resignation was not the result of any disagreement Mr. Goetz […]

Finance

Green, Dodds to lead Park Lawn into the future

In a press release from the company that you can read here, Park Lawn Corporation announced Monday that Interim CEO J. Bradley Green would have the interim tag removed and has been named Chief Executive Officer of the Toronto based death care company.  In the same announcement, Park Lawn’s Board of Directors announced that Jay Dodds would be named the company’s President and Chief Operating Officer. It was also announced that Green and Dodds would become members of the public […]

Finance

Investors still reluctant with death care stocks

I happened to see that at the close of the markets Friday that funeral home and cemetery operator and consolidator Park Lawn Corporation’s stock closed down over 9% from the previous day.  I looked for news on the company but could not find anything in the public world that would cause a precipitous drop in valuation like that. What it did cause me to do was take a look at all the other death care stocks that comprise the Funeral […]