Tag: cemetery business

Cemetery

This is a Strange Story

I recently read an article that came to me from WZZM 13 News in Michigan.  The story surrounds the Michigan Strategic Fund and its June 26 decision to give preliminary approval of a $26.5 million bond issue to a non-profit group called Cathedral of St. Augustine’s to purchase 28 cemeteries in Michigan.  You can read the story here. What makes the story interesting is that the owner of the group of cemeteries, Midwest Memorial Group (MMG), a subsidiary of Toronto […]

Business

Where Are Our Ethics?

Over the weekend the Charleston (SC) Post and Courier ran an in-depth story about the death care business in South Carolina questioning the ethics, inspection department, and peer oversight of our industry in that state.  You can read the story here. What prompted the story and investigation into the death care industry was the story – which we have told you about here – concerning the death of 63 year old Mary Alice Pitts Moore.  If you remember, Ms. Pitts […]

Cemetery

Goatscaping Coming to a Cemetery near You

The United States is at what some may term full capacity employment and with that comes the high price of labor.  As a matter of fact, some municipalities have instituted a $15 per hour minimum labor rule.  So, what happens if you have a cemetery to maintain and limited funds for capital equipment or just can’t afford the $15 per hour minimum wage rule? Laurel Grove North Cemetery in Savannah, Georgia, is launching a pilot program that you can read […]

Finance

Security National Memorial segment increases Sales and Profits

Last week, public company Security National Financial Corporation reported the results of their First Quarter of 2018.  In the press release that you can read here they report that two of their three operating segments had increases in sales and profits on a year over year basis. As you may recall, Security National Financial Corporation is based in Utah and operates divisions which include Life Insurance, Memorial (funeral homes and cemeteries), and Mortgages.  Both the Life Insurance and the Memorial […]

Finance

Park Lawn Corporation Reports 1Q 2018

  After the close of business on Tuesday, May 15, Canadian death care consolidator Park Lawn Corporation reported their First Quarter results for 2018.  You can see a copy of their Press Release here. Park Lawn reported revenues of $27,206,240 for the quarter compared to revenues of $18,802,424 for the same period of a year ago.  As you may know, Park Lawn has been busy in the acquisition realm which would cause revenues to increase, but they also noted in […]

Business

A Transformational Time

Today we bring you a short, less than 3 minute video, and article that you can access here that has the CEO of death care conglomerate InvoCare speaking on why he believes it “is a transformational time” in the industry.  CEO Martin Earp, speaking with CNBC, talks of the major shift on how people are approaching their own funeral instead of having someone else plan it after they are gone. Earp contends in the video that people are now “hands […]

Finance

Park Lawn Corporation Reports Year End 2017

Park Lawn Corporation, the Toronto based funeral home and cemetery consolidator, released their 4th quarter and Year End 2017 results last week.  Andrew Clark, Chairman and CEO of the company stated in the release, “Overall the company continued to grow in 2017, while improving its margin profile.”  He continued, “Our goals for 2018 include increased organic revenue growth across the entire portfolio while enhancing per share numbers and continuing to explore accretive acquisition opportunities.”  You can read the company press […]

Cemetery Finance

Matthews Announces Acquisition

Last week Matthews International Corporation announced the acquisition of Star Granite & Bronze of Elberton, Georgia, for $41.2 million.  According to the release from Globe Newswire that you can read here, Star Granite & Bronze is a family-owned business that manufactures and distributes granite and other memorialization products to customers across the United States. The release states that Star’s 2017 revenues were approximately $31.3 million and that the company employs approximately 200 people. Matthews plans to integrate the company within […]

Finance

Park Lawn Reports 3Q Results

Park Lawn Corporation today released the results of their 3rd Quarter operations.  The company reported that their revenue increased by over 29% to a $22.4 million mark in 3Q 2017 as compared to $17.3 million in 3Q 2016.  All dollar figures are reported in Canadian dollar figures. The company had several one time non-recurring expense items that contributed to a loss of of $171,116 for the 3rd quarter of 2017 as compared to a net income in 2016 of $749,000.  […]

Cemetery

A Sticky Situation at the Cemetery

I read a short article and watched a newsclip the other day about a situation that has happened at a cemetery in Alexandria, Virginia.  I’m certain that this situation is not unique and many cemeteries have or will find themselves in the same situation at some time. That situation is about inadvertently selling the same grave space more than once.  When you consider how long cemeteries operate, that they have changing boards and/or owners, and that records have been kept […]