Tag: funeral finance

Finance

Death Care Index mirrors NASDAQ on the year

As we move into the final month of the calendar year it seems like no one has the financial markets figured out.  In a year of rising inflation and rising interest rates, raised with the intention of curbing the inflation, the stock market indices have looked confused as to whether the worst is past or is yet to come.  The major indices have all dropped on the year — from a 5.7% loss year-to-date for the Dow Jones Industrials to […]

Finance

Foundation Partners Group purchases Solace. . . extends Direct-to-Consumer digital cremation services

In this press release from PR Newswire you can read about Orlando based Foundation Partners Group and its acquisition of Solace Cremation, the Portland, Oregon, based direct-to-consumer cremation services business.  Solace operates in the Oregon, California, and Florida markets at this time.  The purchase will allow, according to the release, Foundation Partners Group to have geographic proximity to offer digital cremation arrangements and services to nearly 50 million American households. Foundation Partners Group (FPG) is rapidly ramping up their digital platform.  […]

Finance

Acquisitions: Two continents, two hemispheres, corporate firms, 4th generation firms. . . they keep happening

Going into the weekend we thought we needed to remind you that acquisitions keep on coming in the death care business.  In the last week or ten days here’s a couple we noticed. Cleveland’s Busch Funeral and Crematory Services, a 4th generation firm has added Schuster-Straker-O’Connor Funeral Home  of Parma, Ohio, to its existing Northeast Ohio footprint. According to the press release of August 19, that you can read here, Busch is solely family owned and operated, and offers burial, […]

Finance

Carriage Services adds “hinted at” acquisition

In Carriage Service’s 2nd Quarter financial report, Chief Administrative Officer and General Counsel, Steve Metzger, hinted that the company had two acquisitions in the pipeline that would probably be announced in the following couple of weeks. We now know, thru this Carriage Services press release, that one of those acquisitions appears to be 800-call Funeraria San Juan located just outside of Orlando, Florida, in the Kissimmee community.  According to the press release, Funeraria San Juan operates out of two stand-alone […]

Finance

It’s a common theme — Park Lawn reports higher sales, lower margins in 2Q 2022 report

Park Lawn Corporation (PLC) reported their financial results for the 2nd Quarter of 2022 (April thru June) last week and their report was like many others we have seen  — higher revenues, lower margins.  You can see the press release here. For the quarter PLC reported Net Revenue of $75.9 million as compared to last year’s 2nd Quarter Net revenue of $72.0 million — a 5.4% increase.  That increase, however, relied on new acquisition revenue because revenue from “comparable operations” […]

Finance

Quarterly report at Hillenbrand reinforces recent results

Hillenbrand Industries, the parent company of Batesville Casket, reported its 3rd Quarter results earlier in the week.  The 3rd Quarter for Hillenbrand encompasses the April thru June time period. It’s interesting to note that the Batesville segment of the business carried through with what we have been seen in the death care profession with other public companies April thru June 2022 reports.  That includes slightly elevated dollar sales volume, compressed EBITDA margins, and what appears to be less volume in […]

Finance

Matthews Memorialization segment reports higher sales, lower margins

Mathews International, the global provider of memorialization products, industrial technologies, and brand solutions reported their Fiscal 3rd Quarter last week.  That quarter encompasses the April thru June 2022 time period. In reporting their Memorialization segment finances we note that they may be reporting what we believe could become a common theme in death care company’s reports for the quarter — that is one of thinning margins.  You can see the quarterly financial press release here. Here’s what Matthews CEO and […]

Finance

Park Lawn makes earning season splash with large aquisition

Park Lawn Corporation announced yesterday in this press release that they have acquired substantially all of the assets of the Schackelford Corporation based in Western Tennessee.  The Schackelford Corporation encompasses a fifth-generation company that has served Western Tennessee for 90 years.  According to the press release the acquisition includes eight stand-alone funeral homes, two stand-alone cemeteries, and one on-site funeral home and cemetery. The release also indicates that the acquisition will bring an approximate 1,577 calls per year and 152 […]

Finance

Security National’s 1st Quarter — Memorial segment has revenue rise, but earnings decrease

Security National Financial Corporation (SNFC), the Utah based company that has three separate business segments including those that operate in the retail mortuary and cemetery space, the preneed insurance space, and is also the parent company of C & J Financial, had very mixed results in the 1st Quarter of 2022 as seen in their press release here.  The company’s largest, by revenue, segment is their Mortgage Segment and as you can imagine home prices and interest rates played a […]

Finance

StoneMor reports 1st Quarter. . . Axar talks continue

Here’s what StoneMor Inc. CEO Joe Redling had to say about the company’s 1st Quarter of 2022 during the company’s earnings call on May 12 which you can access here, “During the first quarter, we achieve(d) 4% year-over-year growth in our pre-need sales production.  And this is against the first quarter of 2021. That was up 45% against the first quarter of 2020. We achieved this growth through a concentrated sales effort, including a focus on volume and pricing optimization. […]