Carriage Services
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…
Read MoreI 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…
Read MoreStoneMor, 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…
Read MoreNorth 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…
Read MoreCarriage 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…
Read MoreThe 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…
Read MoreWe’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…
Read MoreThis 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…
Read MoreIn 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…
Read MoreI 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…
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