Tag: Carriage Services

Finance

Death Care Index mirrors NASDAQ on the year

As we move into the final month of the calendar year it seems like no one has the financial markets figured out.  In a year of rising inflation and rising interest rates, raised with the intention of curbing the inflation, the stock market indices have looked confused as to whether the worst is past or is yet to come.  The major indices have all dropped on the year — from a 5.7% loss year-to-date for the Dow Jones Industrials to […]

Finance

Park Lawn Corporation reports 3rd quarter — mixed results

The 3rd Quarter of 2022 has shown a trend of less deaths than the comparable 3rd Quarter of 2021.  As a matter of fact, as you can see from this report from the Center for Disease Control (CDC), provisional deaths for 3Q 2022 numbered 751,497 as compared to 874,495 in the same quarter of 2021.  That’s a decline of 14.1%. And, that decline in deaths has resulted in a decline in revenues for public company death care companies.  However, Park […]

Finance

Carriage Services acquires North Carolina funeral homes and cemetery

It was announced last week in this press release that Carriage Services, headquartered in Houston, Texas, acquired substantially all of the assets of the Heritage Funeral and Cremation Services and Forest Lawn East Cemetery.  The businesses are located in the Charlotte, North Carolina, market territory and consist of three stand alone funeral homes, a cemetery, and a cremation focused business. Steve Metzger, Executive Vice President and Chief Administrative Officer of Carriage Services said this about the acquisitions, “. . .The […]

Finance

Carriage Services reports 3Q 2022 Financial Results: Lower Numbers

Of the seven companies that comprise the Funeral Director Daily Death Care Index (DCI) Carriage Services was the first company to report earnings for the 3rd Quarter of 2022 and did so Wednesday. Carriage Services, based in Houston, Texas, reported lower comparable numbers in almost every category compared to the same period in 2021. For instance: Total Revenue for the 3rd Quarter was listed as $87.4 million as compared to the 3rd Quarter of 2021 when Total Revenue was reported […]

Finance

Death Care Index falls, trails market indexes on the year

I had planned this article subject for this date simply because we have now finished the 2nd Quarter reports for all seven death care related companies that comprise the Funeral Director Daily Death Care Index (DCI). I hesitated, but then continued to move forward with this report on the public death care companies in spite of pretty negative news from the Jackson Hole economic summit which brought the markets quite a bit south on Friday. I’ve often felt that when […]

Afternoon Edition

Seeking Alpha author researches Carriage Services

  Last week Seeking Alpha contributing author Daniel Jones authored an article highlighting death care funeral home and cemetery operator Carriage Services. Here’s some of what he says in the article, “Although it may sound morbid to say, the death care space is a particularly interesting area for investors to explore. In a world where the population continues to grow, the demand for these services is also destined to grow. And one of the few companies that operate in this space […]

Finance

Carriage Services adds “hinted at” acquisition

In Carriage Service’s 2nd Quarter financial report, Chief Administrative Officer and General Counsel, Steve Metzger, hinted that the company had two acquisitions in the pipeline that would probably be announced in the following couple of weeks. We now know, thru this Carriage Services press release, that one of those acquisitions appears to be 800-call Funeraria San Juan located just outside of Orlando, Florida, in the Kissimmee community.  According to the press release, Funeraria San Juan operates out of two stand-alone […]

Finance

Is it time to buy funeral home stocks?

Earlier this week I read this article from Yahoo Finance authored by Brian Sozzi.  The article is entitled “Consumers have to face that nasty inflation is here to stay for awhile”. The article goes on to mention that, at least in Mr. Sozzi’s opinion, skilled workers are too few in number to meet the needs of post-pandemic businesses and that is leading to wage inflation.  He doesn’t see a stop to that phenomena in the short term and for that […]

Finance

Increasing funeral home numbers drives Carriage Services results

Carriage Services reported their 1st Quarter of 2022 last week and in doing so highlighted the strength of their funeral home operations.  “Same Store” service contracts increased about 3.3% and average revenue on those services increased 1.2% over the same period of last year which led to a Funeral Home Operating Revenue increase of $3.3 million  and Total System Revenue of $98.2 million (a 1.6% increase) even as the Cemetery Division revenue decreased almost 5% for the quarter. For 1Q […]

Business Finance

Recapping FY 2021 with the public companies

When you read this it will already be May 2022 and we will be two-thirds of the way into the 2nd Quarter of most company’s 2022 business year.  As a matter of fact, the reports of January thru March have already started to roll out as Matthews International provided us information on the January thru March period just last week.  We will be reporting on that later this week. However, I was asked by some in the death care business […]