casket business
We’ve mentioned that many death care companies are intent on growing and right now many seem to have the cash-flow to fuel those acquisitions that lead to company growth. Just last week Wilbert, Inc. announced an acquisition of a molding and finishing manufacturer who produces casket hardware, automotive/transportation components, and other consumer products. On the…
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The Cremation Association of North America (CANA) says the 2020 cremation rate in the United States was 56.1%. That same reliable group says that within the next decade – in 2030 – the national cremation rate will rise to 72.8%. Considering the fact that the vast majority of cremations in the United States do not…
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I had contact with an industry friend who had just returned from the Cremation Association of North America (CANA) convention last week. She indicated to me that it was good to get back to an in-person gathering and see old friends. One of the other things she indicated is that, in her opinion, how the…
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Matthews International reported their Fiscal year 2021 2nd Quarter results last week and with the report we noticed how it is impossible to not notice that their Memorialization business segment which consists of Aurora Casket, Matthews Cremation, and their cemetery, memorial, and mausoleum division, is increasingly leading the company. The other two segments of Matthews…
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In the world that we are living in, it is certainly not unexpected, but to see Batesville’s sales soar 30% for the October, November, and December quarter is both mind boggling and sobering. It is, in my opinion, mind boggling simply to see any company, without a major acquisition, grow their sales by 30% in…
Read MoreMatthews International reported their 4th Quarter and 2019 fiscal Year Sales last week. The Pittsburgh based public company includes in its portfolio, as one of three business segments, a Memorialization unit that includes Matthews Cremation, Aurora Casket, and Star Granite which are of interest to the death care industry. You can access the Matthews International…
Read MoreHillenbrand Industries, parent company of Batesville Casket company reported earlier this week that Batesville’s fiscal 4th Quarter sales (July, August, September) were essentially flat from the prior year. You can see Hillenbrand’s 4th Quarter and Year End report here. Hillenbrand Industries reported quarterly revenue of $486 million — an increase over 4Q 2018 of 2%. …
Read MoreEarlier in May both of America’s leading casket companies reported their 2019 fiscal year 2nd quarter financials. Those companies, Hillenbrand, which is the parent company of Batesville Casket Company, and Matthews International, which is the parent company of Aurora Casket Company, reported declining sales of caskets. You can see Hillenbrand’s 2Q report here and you…
Read MoreOn December 19 Standard and Poor’s Global Ratings issued a rating on Hillenbrand’s amended $900 million unsecured revolving credit facility expiring in December 2022. The rating assigned was BBB. The company restated that it will use this credit facility for financing working capital needs and general corporate purposes. Standard and Poor’s gave the following reasons…
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