cemetery business
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…
Read MoreThe 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. …
Read MoreNorth 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…
Read MoreIt was announced last week in this press release that Carriage Services, headquartered in Houston, Texas, acquired substantially all of the assets of the Heritage Funeral and Cremation Services and Forest Lawn East Cemetery. The businesses are located in the Charlotte, North Carolina, market territory and consist of three stand alone funeral homes, a cemetery,…
Read MoreOf the seven companies that comprise the Funeral Director Daily Death Care Index (DCI) Carriage Services was the first company to report earnings for the 3rd Quarter of 2022 and did so Wednesday. Carriage Services, based in Houston, Texas, reported lower comparable numbers in almost every category compared to the same period in 2021.…
Read MoreEarlier this week according to this press release the Institutional Shareholder Services (ISS) recommended that shareholders of StoneMor vote “FOR” the pending transaction with a subsidiary of Axar Capital Management LP. That vote, which would take StoneMor to a private company status, is scheduled for a special stockholders meeting on November 1, 2022. Among other…
Read MoreJust yesterday we learned that Park Lawn Corporation announced the acquisition of the assets of Muehlebach Funeral Care, Skradski-Pierce Funeral Home, and Assurance Cremation Society. All are located in Kansas City, Missouri. The acquisition of the three firms will add approximately 627 calls and $616,000 in adjusted EBITDA annually to Park Lawn Corporation’s financial…
Read MoreA recent article published by Seeking Alpha indicates that the “Go Shop” period for StoneMor Inc., following the announcement of a potential going private sale to Axar Capital, is over. In the article the authors mention, “StonMor has been able to solicit other offers, which might not necessarily be take privates. The go-shop period is…
Read MoreLast week the Valkyrie Trading Society wrote an article for Seeking Alpha entitled “Service Corporation International: Feeling minimal pressures”. You can access the article here. Here are three take-aways from that article: The themes are that COVID-19 pulled forward mortality, making 2020 and 2021 strong years for Service Corporation International. There is also commentary around…
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