Tag: death care industry

Finance

Service Corporation Reports 1Q 2018

It is earnings time for public companies and today we are reporting on what Service Corporation International reported in their 1st  Quarter report of 2018.  You can see their complete press release, including financial information, here. In essence, Tom Ryan, SCI’s CEO, made the following statements: “. . .earnings per share growth of 9 cents (to 47 cents total) or about 24% over last year. . .about half of this increase was. .  attributable to improved operating performance in our […]

Finance

Assurant Financial Strength Affirmed

While not specific to the death care portion of their industry, A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) for the U.S. property/casualty subsidiaries of Assurant, Inc.  The credit rating company has also affirmed the Long-Term Issuer Credit Ratings of Assurant at bbb+.  Best continues that the outlook of these Credit Ratings is Stable.  You can see the report from Business Wire here. According to the Business Wire article these ratings reflect Assurant’s balance sheet strength, […]

Business Finance

The Journey Group Keeps Growing

The Journey Group, a death care industry consolidator based out of the New Orleans area, announced last week the purchase and acquisition of two firms in the greater Birmingham, Alabama, area.  Both firms are metropolitan combination firms — each with a funeral home facility on a cemetery property. According to the press release that you can read here, this brings The Journey Group’s Alabama holdings to four cemeteries and five funeral homes. The Journey Group is led by CEO Larry […]

Finance

StoneMor Shakes up Executive Suites

On Friday StoneMor Partners issued a press release that you can read here.  In it they announced that current CEO Paul Grady would be leaving and would be replaced by Leo Pound, who has been a director of StoneMor since 2014 and was previously their acting Chief Operating Officer.  According to the release, Pound is an experienced executive with a focus on increasing customer and shareholder value. StoneMor also announced in the same release that death care industry executive Jim […]

Business

Legacy Funeral Group Purchases Alabama Locations

  According to a press release that you can read here, Legacy Funeral Group of Texas has purchased the Magnolia Chapels of Tuscaloosa, Alabama.  Magnolia Chapels has served the Tuscaloosa area with two chapels since its founding in 1999. (The link will lead you to Legacy’s web-site where you can learn more on the company). Legacy Funeral Group is a regional consolidator of funeral homes based in Texas.  They own approximately 110 funeral homes and, according to the press release, […]

Finance

StoneMor 2nd Quarter Results. . .Company Drops Distribution

StoneMor Partners, based in Trevose, Pennsylvania, issued their 2nd Quarter 2017 financials and report on December 12.  We bring them to you today.  You can see their press release on the results here. Here are some of their highlights: Revenues for the quarter were $86 million which represents a $7.0 million increase from the same period one year ago.  For the first six months of 2017 revenues were $168.9 million which is an $11.7 million increase over the same period. […]