Tag: cremation business

Finance

Matthews reports 4Q and Year End 2020: Memorialization segment is high point

Our reports for the period of July thru September 2020 come to an end with today’s report on Matthews International.  Funeral Director Daily files reports every quarter on the eight public companies that make up our financial Death Care Index (DCI). Today’s report on Matthew’s International, which you can access here, encompasses the mentioned time period which is the 4th Quarter of Matthews fiscal year so we can give you Fiscal Year 2020 numbers also. First of all, for 4Q […]

Finance

Park Lawn reports 3rd Quarter. . . .continued growth

Park Lawn Corporation (PLC), the funeral home and cemetery operator, with headquarters in Toronto and Houston, announced their 3rd Quarter 2020 results last week.  As a growth company, they continued to exhibit those traits — with revenue for the quarter growing to $83.7 million from last year’s 3Q revenue number of $66.5 million (all dollar amounts, unless otherwise indicated in this article are in Canadian dollar denominations).  That’s an increase of over 25% on the top line. You can access […]

Products

Another funeral tech firm raises capital

On Friday we published an article about funeral FinTech and software firm Tribute Technology fetching a reported “more than a billion” dollar amount when sold.  That same day we learned in this article that an Idaho funeral tech firm had just received a $4 million venture fund investment from Pelion Venture Partners based in Utah. Gather, a Meridian, Idaho, based company, according to the article, “provides software solutions to funeral homes to help families after the death of a loved […]

Finance

Carriage Services posts record 3Q revenue and EBITDA

Earlier this week funeral home and cemetery consolidator Carriage Services, based in Houston, Texas, produced their 3rd Quarter 2020 report and in it they recognized the quarter as record breaking for revenue and EBITDA.  According to Chairman and CEO Mel Payne the company blew through milestones which they did not expect to reach until sometime in 2022. Here’s some of what CEO Payne had to say, “The last six months have been a remarkably historic performance period for Carriage, as […]

Finance

Foundation Partners Group expands leadership team

In a press release that we received last week, Foundation Partners Group announced that they had expanded and repositioned their leadership team.  According to the release that you can read here, this will “position the company for continued growth and innovation.” The release explains that Bob Bukala, formerly the President and CEO, will remain CEO and also assume a role as Vice Chairman of the Foundation Partners Group Board of Directors.  The release also explains that Kent Robertson, the company’s […]

Finance

Foundation Partners adds Kentucky locations

Foundation Partners Group, the Orlando based company that has grown by acquisition to over 140 locations of funeral homes, cremation centers, and cemeteries across the United States announced earlier this week that they had acquired the Clark Legacy Center of Kentucky. According to this press release from Foundation Partners, the acquisition will add three locations to the Foundation Partners network.  Clark Legacy Center operates facilities in the Kentucky communities of Nicholasville, Frankfort, and Versailles. Again, according to the release, “The […]

Business Cremation

COVID-19 and Cremation. . .more cremation. . what could it mean

The last thing I want to do with Funeral Director Daily is get into political sides of issues.  And, I will try to once again straddle the line today with this article I entitle “COVID-19 and Cremation. . more cremation. . what could it mean”.  I happened to see this article entitled “The COVID-19 Cremation Trend” from Next Avenue and tried to use it while looking up statistics from the Center for Disease Control to understand the phenomena as it […]

Finance

Can Providence get $1 Billion for funeral group

It was only two years ago that many of us were introduced to a major player in the global private equity industry named Providence Equity Partners.  According to this article which appeared on the American Funeral Association blog in December 2018, Providence had made inquiries into many companies in businesses that I will define as “businesses that support funeral homes in the death care industry”.   They were not like the acquisition consolidators that we all have known about that target […]

Afternoon Edition

Afternoon Edition: Black smoke upsets crematory neighbors

Today we bring you several news reports, articles, and video pertaining to a crematory in New York state that last week had black smoke billowing from its cremation stack.  The funeral home, and its crematory, are located in Tonawanda, New York, and according to some of the articles, this is not the first time that neighbors have rallied against the establishment. Funeral Director Daily take:  One of the first things a funeral home would seem to want is good relations […]

Business

What employee benefits do you give?. . .get?

On Tuesday the Hormel Corporation announced a new employee benefit available to all United States Hormel Corporation employees.  This benefit, that they are calling “Inspired Pathways”, will pay for two-years of community or junior college tuition for all children of the aforementioned Hormel employees. You can read an article from the Minneapolis Star Tribune here or a shorter article from Minnesota CBS Local here. Here’s what Hormel Corporation CEO Jim Snee said of this decision, “. . . . .we […]