Tag: funeral finance

Business Preneed

How do you collect cash and control receivables

I came across this article entitled “Lending USA introduces FastScreen, a New Tool for Pre-Loan Qualification for Funeral Home Merchants” and it reminded me of the struggles I had over the years about implementation of tougher credit policies on client families.  The age old “push-pull” credit decision is that you don’t want to make it difficult for families, however, too much leniency and you may be doing your work for less than full payment or, in some cases, no payment […]

Finance

Foundation Partners Group announces new acquisition, record growth

In this press release from last week, Foundation Partners Group (FPG) announced a new acquisition and also gave some indication of its growth over the past couple of years. Foundation Partners Group is the privately owned death care consolidator based in Orlando, Florida, that appears to set its acquisition sights on cremation heavy firms.  FPG is owned by Access Partners of Baltimore, Maryland. In the press release the company announces the acquisition of Baldwin Brothers Funeral and Cremation Society of […]

Afternoon Edition

How some in the secular financial world see Death Care. . . interesting articles

I like to stay abreast of what is happening in the world of finance.  And, even though I like to stay in my lane about what I know, over the years I probably bought a stock or two in a company where I didn’t really know the inside out of how the company made its profits. I also like to think that I know the business of Death Care somewhat and understand most of the roads to profitability.  I ‘ve […]

Finance

Matthews sees Memorialization revenue increase, backlog in cemetery orders and delay in cemetery capex

Matthews International, the Pittsburgh based tri-partite conglomerate with the largest percentage of their sales in what they refer to as their “Memorialization Segment” saw an increase in total sales and Memorialization Segment sales for their 2021 Fiscal Year.  As you can see from this 4th Quarter (July, August, September) and Year End report sales in the Memorialization Segment increased from $656.0 million in FY 2020 to $769.0 million in FY 2021. . .that’s an increase of 17.2%. Included among many […]

Finance

Park Lawn keeps rolling along, CEO Brad Green comments

Publicly traded funeral home and cemetery operator Park Lawn Corporation (PLC) released their 3rd Quarter 2021 results last week and CEO Brad Green said this in a prepared press release statement, “The third quarter exceeded our expectations, especially given the continued decline of COVID-19 deaths served by our businesses. Despite this, we saw an increase in the number of families that we served in our comparable businesses in both our funeral homes and cemeteries. Likewise, we continued to see 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 […]

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 […]

Finance

Propel Funeral Partners raises capital, announces Share Purchase Program

Propel Funeral Partners of Australia and New Zealand announced last week, in this announcement, that they had raised $AU 50.2 million via a placement with institutional investors.  They also announced that they are offering eligible existing shareholders the opportunity to purchase a total of up to $AU 10 million via a share purchase plan. Here’s what Albin Kurti, Managing Director of Propel said in the release, “We are delighted by the support received from Propel’s existing institutional shareholders and to […]

Finance

InvoCare reports first half year. . . gives us a glimpse of future funeral home revenue sources

InvoCare, the largest public purveyor of death care services in Australia, reported their first half year results for 2021 recently.  The earnings call transcript, which you can access here, also gave some glimpses into the future of funeral service companies, at least in Australia. As you may know, Australia has had a severe lockdown during the Covid-19 pandemic.  The first half of 2021 eased those restrictions somewhat and that was partially the reason that InvoCare saw a 13% increase in […]

Finance

Matthews records record sales, casket sales drop off

Matthews International reported their 3rd Quarter 2021 sales recently and in doing so reported a record revenue for their 3rd Quarter (April-June) of $428.4 million, which is a 19.2% increase over the same period of 2020.  As you may know, Matthews International has three business segments, one of which is their Memorialization segment. The Memorialization segment of Matthews includes Matthews cremation and Aurora Casket Company as well as their cemetery memorial products division.  The segment recorded over 43% of total […]