Tag: funeral business

Business

Could “Skimpflation” be part of your margin solution??

My wife, Angie, came home from the grocery store on Monday morning and showed me a bag of Honeycrisp apples that priced out at over $18. . . Now, I don’t buy the groceries, but I could tell from her reaction that this was a high price for these apples.  So, I think we know that inflation is here. My thought process today is, “How will that affect those of us in the death care business?” I also read an […]

Finance

Carriage Services announces record 3rd Quarter Results, comments on acquisition environment

Funeral home and cemetery consolidator Carriage Services reported on the financial results of their 3rd Quarter for 2021 and in doing so reported record 3rd Quarter revenue for a quarter of $95.0 million.  That is 12.6% higher than the $84.3 million of revenue recorded in the 3rd Quarter of 2020. Here’s what is said in the press release from Carriage Services that you can read here, “All five of our field reporting segments executed at an extremely high level during […]

Business Products

Funeral homes adding “assisted death” to service options

What some people term “Death with Dignity” is a growing movement that I confess to know little about.  However, the acronym MAID, which stands for “Medical Assistance in Dying” and is part of the Death with Dignity movement is becoming better known and accepted.  Legal in Canada since 2016 the Medical Assistance in Dying Movement has grown from about 1,000 instances in 2016 to about 7,600 instances in 2020. And, the Death with Dignity movement in also moving forward in […]

Finance

SCI’s 3Q Report continues solid run

Service Corporation International (SCI), the largest funeral home and cemetery operator in North America reported their 3rd Quarter 2021 financial results on Wednesday.  You can see them for yourself here. Here’s some of what Tom Ryan, Service Corporation’s CEO said of the 3Q 2021 results, “Today we are reporting another strong quarter with earnings . . . . .growth in adjusted earnings per share is primarily driven by significant increases in the revenues and gross profits of both our funeral […]

Business

Can your funeral home capitalize on 2nd funerals?

I read this article from the Toronto Sun where Canadian funeral director Diane Moniz-Alves commented, “It has been quite traumatizing for families, not being able to have a proper funeral.”  And, last Spring I attended as a member of our funeral home a “family only” committal service simply because I wanted to pay my respects to some of the children whom I had went to school with. Basically, I represented the entire community at the committal. . . . had […]

Finance

Zacks Research previews SCI earnings report

We found this report, dated October 21, interesting from Zacks Equity Research.  Here’s an interesting couple of lines from the report. . .”SCI is likely to display year-over-year declines in the top and bottom lines, when it reports third-quarter 2021 numbers on Oct 27. The Zacks Consensus Estimate for revenues is pegged at $800 million, suggesting a drop of 12.9% from the prior-year quarter’s reported figure.” Service Corporation International is expected to report 3rd Quarter earnings on October 27 (tomorrow). […]

Business

The labor market and your funeral home

Over the weekend I read some articles pertaining to the secular world of business that I have tried to boil down to how they will affect the death care profession/industry.  One article from Yahoo Money is entitled “Making sense of the Twisted Sister labor market“.  You can read it here. That article points to what it calls the “Great Resignation” and how leaving the labor force for many is both stressing out workers left behind and giving those workers some […]

Business

There is still value in radio ads for funeral homes

The Radio Advertising Landscape for Funeral Homes By Welton Hong   There are about 15,500 radio stations in the United States. Combined, they have an enormous audience: About 90% of the people in the country of almost any age listen to radio at least monthly. That makes radio a great place for funeral service advertising, even while many small businesses think radio ads are too expensive or that this traditional format is dead. In 2019, advertisers in the United States […]

Afternoon Edition

Reasons for lack of men in the work force leads last months readership

The top read article for the last 30 days published on Funeral Director Daily dealt with, not only the loss of men in the funeral service workforce, but the loss of men in the workforce in general.  We’ve all seen many more women in funeral service over the past decades but what about the participation rate of men in the workforce in general? Over the last several years, men in the 16-64 age category who are available for work and […]

Finance

Park Lawn Corporation announces three acquisitions

Toronto-based Park Lawn Corporation, a funeral home and cemetery owner and operator, announced in this press release last week that it had acquired three businesses which constitute an addition of six stand-alone funeral homes, one stand-alone cemetery, three combination funeral home/cemetery properties, and five event centers.  All businesses are located in their growing North Carolina and Tennessee market areas. The companies acquired include Pugh Funeral Homes and New Hope Memorial Gardens in North Carolina, Smith Funeral & Cremation Service and […]