Tag: caskets

Finance

Batesville notes from Hillenbrand Industries Quarterly Report

Last week Hillenbrand Industries reported their Fiscal Year 4th Quarter of 2022 and their Year End results for Fiscal Year 2022.  It is noted that Hillenbrand operates on an annual fiscal year calendar from October 1 to September 30. Over the years Hillenbrand has moved from a company predominantly based in the death care business via their operation of Batesville to a more well-defined manufacturing industry conglomerate with Batesville as a minority representative of sales and profits.  For instance, 4Q22 […]

Afternoon Edition

Titan Casket scores positive PR from Taylor Swift video

The streets of Death Care and the avenues of Entertainment don’t seem to collide too often at an intersection.  But every once in a while they do and when they do it generally leads to some publicity.  According to this article from Bloomberg that intersection just happened with a highly performing music video by artist Taylor Swift that contained a product placement of a Titan brand casket prominently displayed. It’s interesting to note that Taylor Swift made history in the […]

Finance

Titan Casket secures funding round

According to this release from BusinessWire direct-to-consumer company Titan Casket has secured $3.5 million in seed funding to expand its operations in the United States.  The round of funding was led by Reformation Partners. The release continues as it says, “As Titan continues to expand its product and service categories with the addition of eco-friendly caskets, urns, flowers, and funeral pre-planning options, this funding will be used for product development, ensuring faster delivery speeds of only 1-2 business days for […]

Finance

Batesville increases revenues on lower volume sales

  Hillenbrand Industries, parent company of Batesville, reported its 2nd Quarter 2022 (January thru March) last week and with it reported that the Batesville division increased their sales over the same quarter of last year by 6% to $176 million for the quarter.  That was done, for the most part, by implementing a “price surcharge” in January 2022 to “offset the significant increase in commodity costs.” The quarterly report, which you can read here, also made mention that “Burial casket […]

Products

Necessity making room for some casket changes in Hong Kong

It is often said that “necessity is the mother of invention”.  This article from Manufacturing Business Technology shows us that is the case in Hong Kong at this time as a recent surge in Covid-19 deaths has created a shortage of coffins in the city. The article states that “Hong Kong has reported about 200 deaths daily on average over the past week . . .. The surge has put a strain on mortuaries, and refrigerated containers are being used […]

Finance

Batesville casket sales, margins both drop

  Hillenbrand Industries, parent company of Batesville Casket, reported their Fiscal Year 2022 1st Quarter last week. The First Quarter of their fiscal year represents the months of October, November, and December 2021.  You can read the entire report on the company’s 1Q 2022 here. While Hillenbrand Industries is a conglomerate of companies, they still report their Batesville operating segment separately and that is what is of interest to us at Funeral Director Daily. For the 1st Quarter of Fiscal […]

Business Products

The new casket merchants seek to raise funds

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 use a traditional casket. . . . you might say that the casket business looks pretty bleak in the future. In addition, Hillenbrand Industries, parent […]

Finance

Batesville reports Fiscal 2021 Revenue increase, suggest less Covid deaths possible in 2022

Batesville Casket’s parent company, Hillenbrand Industries, reported Fiscal Year 2021 and FY 4th Quarter 2021 results last week.  In that report, that you can read here, they reported that the Batesville segment produced revenue of $623 million for the year. . . a 13% increase over FY2020.  It should be mentioned here that FY2020 included the months of October, November, and December of 2019. . . a period in which no Covid deaths were reported in North America.  In contrast, […]

Finance

Hillenbrand revenue increases, Batesville division sales and EBITDA drop

Hillenbrand Industries, parent company of Batesville, reported their Fiscal Year 3rd Quarter earlier this month.  Their FY 2021 3Q comprises the April, May, and June 2021 business period.  You can see the complete report here. Here’s what CEO Joe Raver said about the quarter, “We had another strong quarter of performance with exceptional cash generation and record backlog due to continued momentum in our industrial businesses, while Batesville performed better than expected.” Hillenbrand is comprised of three divisions:  Advanced Process […]

Products

Another start up in Death Tech. . .another player in caskets

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 death care profession had changed so fast in the 18-month Covid period we have been in. And, one of those changes is all the new […]