Tag: funeral home business

Business

The cost of a funeral, financial literacy. . . and more

I read and then viewed this news story from KPLC-TV of Lake Charles, Louisiana and thought to myself, “Wow they did a pretty fair job of telling of the plight of paying for a funeral when no planning has been done.”  You see, a lot of people like to blame the unexpected expenses of a sudden death in the family on funeral directors everywhere instead of looking inward with the idea that this was going to happen sometime, why didn’t […]

Business

How will we transform?

The other day Funeral Director Daily published an article on the transformation of Hillenbrand Industries.  We explained that while the trajectory has not been perfect and steady – as a matter of fact it has sometimes been downright rocky – they have now transformed their business and business model so that their founding business, caskets, makes up only 30% of their revenue and they have found a way to be profitable at that figure. In researching that article I came […]

Regulations

The staffing issue

A couple of things came to my attention last week that made me again think about the staffing issue facing funeral homes across the country.  While I am no longer on the front lines in looking for licensed staff, I do hear from my colleagues that hiring and retaining professional funeral home licensed staff is a critical issue in operating their businesses. Last Monday I chaired a meeting of a non-profit company in the Fargo, North Dakota, market that operates […]

Finance

Public company notes. . .StoneMor, Park Lawn

We noticed a couple of articles in the news or opinion sections today about death care public companies StoneMor Partners and Park Lawn Corporation and just thought we would pass them on. StoneMor Partners to eliminate 340 positions.  This article points out that StoneMor Partners will be targeting 340 positions as it attempts to eliminate $30 million of annual costs in addition to the $20 million the article says it has already weeded out of operations.  We point out that […]

Finance

Park Lawn reports Q2 results

Park Lawn Corporation (PLC), the Toronto based consolidator and operator of funeral homes and cemeteries reported their financial results for the 2nd Quarter of 2019, the period that ended June 30, 2019, yesterday.  You can see a short synopsis of the results in this press release. Park Lawn’s CEO Andrew Clark is quoted in the release, “PLC delivered strong per share growth for our shareholders through solid operating results for the first half of 2019.  PLC continues the successful execution […]

Business Regulations

Friday’s Random Releases

To cap off the week and the month of May we are forwarding to you three separate articles from the world of death care.  Click on the links of these articles to learn more. State of Washington and its Death Certificate Problem- An editorial from the Spokane Spokesman-Review that you can read here goes into detail the problems families are encountering because of delays in completing death certificates.  The article states that “at the heart of the problem is a […]

Finance

Security National Memorial segment increases revenue by 15%

Security National Financial Corporation, the Utah based financial and death care company showed a total company decrease in revenue for the 2019 1st Quarter as compared to the same quarter in 2018.  You can see their 1st Quarter report here which was made public on May 16. However, even as the company experienced a decrease in total revenue and income they did show solid year over year gains, both in revenue and earnings, in their Memorial segment, which consists of […]

Finance

StoneMor announces 1Q Results. . .Sales decline, losses widen

StoneMor Partners, the Pennsylvania operator of funeral homes and cemeteries announced First Quarter 2019 results last week.  The company, which is in what CEO Joe Redling says is an “operational reorganization” continues to see revenues lower and losses larger than the comparable quarter one year ago. For 1Q 2019 revenues amounted to $71.5 million as compared to $77.9 million in 2018.  The net loss of the company for 1Q 2019 was $22.5 million as compared to $17.9 million in 1Q […]

Finance

Carriage Services Profit drops. . . management to fight back

Death care consolidator Carriage Services issued preliminary 2018 results on Wednesday.  You can read a press release from the company here. In those results the company announced that they had grown revenue year over year from $258.1 million in 2017 to an an unaudited estimate of $268.0 million in 2018.  That would be an increase of about 3.8%.  However, they also announced that they expect their 2018 profit to fall to about $11.9 million which is down from $37.2 million […]

Finance

An opinion on Service Corporation International

Just this morning I noticed an information piece on Service Corporation International from Zack’s Research.  It’s a short, but interesting look at how at least some people look at the death care industry as compared to the overall market and what they think about SCI. Interesting to note, is that according to the article, Service Corporation International stock has increased 13.2% in the last six months while the overall market has dropped. We present the article to you here with […]