Tag: cemetery business

Products Regulations

Federal Trade Commission communication hints at “Funeral Rule” retention & modification

The Federal Trade Commission issued the “Funeral Rule” in 1982 with an effective date of September 1984.  Since that time it has operated as a consumer tool for price comparison in the funeral home market.  This recent communication from the FTC asks for additional comments on several items by January 3, 2023, as the FTC states, “Based on the comments received in response to the Rule Review, along with the prior rulemaking records and the Commission’s experience enforcing the Rule, […]

Cemetery Regulations

Winter at the Cemetery

As you may know I have lived my entire life in Minnesota. . . and this past weekend winter arrived.  We had a little brush with snow and then our first Zero degree day was Saturday.  It made me think of my working years with committal services out at the cemetery following a church service and before a reception. My friends who live south of the Mason Dixon line and subscribe to this blog probably don’t have those “wonderful” experiences.  […]

Finance

Park Lawn Corporation adds to Kansas City cluster

It was announced in a recent press release that you can access here that funeral home and cemetery operator Park Lawn Corporation (PLC) has made another acquisition in the greater Kansas City market.  Just this week they have announced that they have acquired substantially all of the assets of the aptly named Park Lawn Funeral Home and Memorial Park Cemetery & Green Lawn Cemetery as well as the Park Lawn Northland Chapel and Glenridge Cemetery. The move will expand the […]

Afternoon Edition

Industry lawsuit dismissed

Slightly over two years ago Funeral Director Daily reported that it had read in Bloomberg Law that a lawsuit had been filed by plaintiff Park Lawn Corporation against the defendant PlotBox. The wheels of justice seem to grind slowly and we had not even thought about that case until earlier this week when we received a press release on the status of the case.  Here’s the conclusion of that case as reported in the recent press release authored by Plotbox. […]

Finance

Matthews: Memorialization sales rise, adjusted EBITDA drops for the year

Matthews International, parent company of Matthews Cremation and Aurora Casket, announced their Fiscal Year 4th Quarter and Year End 2022 results last week.  President and CEO Joseph C. Bartolacci said this in the opening statements of the report, “I am pleased with our operating results for the fourth quarter and fiscal year ended September 30, 2022. . . .  consolidated sales for the current quarter were $457.1 million, compared to $438.8 million last year. . . .This growth primarily reflected […]

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

Security National after tax earnings decline 121% in 3Q 2022

In the 3rd Quarter of 2022 earnings release for Security National Financial Corporation (SNFC) released earlier this week, Scott M. Quist, the company’s President stated, “2022 is continuing to be a challenging year for our Company due primarily to the dramatic rise in inflation and interest rates, and the dramatic fall in equity values. In the mortgage space, purchase transactions are down roughly 40% YOY and refinance transactions are down roughly 80% YOY. Equity values, as measured by the S&P […]

Afternoon Edition

Park Lawn Corporation adds 1,000 call acquisition

In a press release made public on the heels of the company’s 3rd Quarter report, Park Lawn Corporation (PLC), with headquarters in Houston, Texas, and Toronto, Ontario, announced that they had acquired the Schrader, Aragon & Jacoby Funeral Home, Mountain View Memorial Park, and Bustard & Jacoby Funerals, Cremation, Monuments and Receptions of Cheyenne and Casper, Wyoming.  The press release, that you can read here, was made public on Monday, November 13. It was announced that the transaction is expected […]

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

SCI reports 3Q revenue decline. . .CEO Ryan “These results significantly exceeded our expectations”

North America’s largest business in the death care industry, Service Corporation International (SCI) reported their 3rd Quarter 2022 financial results earlier this week.  The results show a decline of about 5.5% in total revenues for the quarter as compared to the same quarter of 2021.  The 3Q 2022 revenue number was $977.7 million as compared to the 3Q 2021 revenues of $1.034 billion.  You can see all of the financial results in this press release. The company also reported Net […]