Tag: funeral home public companies

Finance

SCI 2Q 2022 shows small increase in revenue, decrease in Operating Income

Last week the largest public company in the death care space, Service Corporation International,  reported their 2022 2nd Quarter and Half-Year financial results.  For the quarter which encompasses the April thru June 2022 calendar dates, company wide revenue rose to $990.9 million as compared to the same period of last year which totaled $987.5 million. . . that’s an increase of about 3.4 million or just 0.3% over the 2021 number. In addition, Operating Income for the quarter dropped from […]

Finance

Death care stocks down 18% Year to Date

I read this interesting article on Saturday morning from Yahoo Finance’s Morning Brief entitled “What to expect from a recession everyone sees coming“.  The author of the article makes this statement, “. . . recessions can be mild and short if the causes are anticipated and less systemic, and more severe and longer if they are unexpected and less intertwined with the core economy“. The article and the recent turbulence in the stock market gave me reason to look at […]

Finance

StoneMor agrees to Axar Capital Management buyout

In a press release issued at the beginning of business yesterday, Wednesday May 25, StoneMor Inc. announced that the company had agreed to a “definitive merger agreement under which a subsidiary of Axar Capital Management, LP (“Axar”) will be merged with and into StoneMor and all outstanding shares of StoneMor common stock not owned by Axar as to which dissenters’ rights are not perfected will be converted into the right to receive $3.50 in cash per share.”  You can read […]

Business Finance

Recapping FY 2021 with the public companies

When you read this it will already be May 2022 and we will be two-thirds of the way into the 2nd Quarter of most company’s 2022 business year.  As a matter of fact, the reports of January thru March have already started to roll out as Matthews International provided us information on the January thru March period just last week.  We will be reporting on that later this week. However, I was asked by some in the death care business […]

Finance

StoneMor Inc. partners with Empathy. . . .Reports 2nd Quarter financials

StoneMor, Inc. the Pennsylvania based operator of cemeteries and funeral homes last week announced a partnership with end-of-life technology support start-up Empathy.  Empathy is, as they say, powered by technology and driven by purpose in helping grieving families handle countless tasks following the death of a loved one.  The company describes itself as “a service platform that helps families navigate the journey they face after losing a loved on.”  Here’s what StoneMor, Inc. CEO Joe Redling said in this prepared […]

Finance

Memorialization segment clear winner for Matthews International

Matthews International reported their Fiscal year 2021 2nd Quarter results last week and with the report we noticed how it is impossible to not  notice that their Memorialization business segment which consists of Aurora Casket, Matthews Cremation, and their cemetery, memorial, and mausoleum division, is increasingly leading the company. The other two segments of Matthews International’s operating portfolio consist of what they call their Industrial Technologies segment and their SGK Brand Solutions segment.  The company as a whole reported sales […]

Finance

April has been a busy month for StoneMor

StoneMor, Inc.,  the Pennsylvania based consolidator and operator of cemeteries and funeral homes, has had a busy April.  We’ve seen Moody’s upgrade their credit rating, we’ve seen insider trading purchases of the stock, and we’ve seen an announcement of refinanced debt.  That and more leads a press release from Moody’s to state, “. . . .StoneMor’s increased liquidity position will be used to make strategic acquisitions to increase scale and grow profitability.”   These announcements from StoneMor come on the heels […]

Finance

Carriage Services posts record 3Q revenue and EBITDA

Earlier this week funeral home and cemetery consolidator Carriage Services, based in Houston, Texas, produced their 3rd Quarter 2020 report and in it they recognized the quarter as record breaking for revenue and EBITDA.  According to Chairman and CEO Mel Payne the company blew through milestones which they did not expect to reach until sometime in 2022. Here’s some of what CEO Payne had to say, “The last six months have been a remarkably historic performance period for Carriage, as […]

Afternoon Edition Finance

Afternoon edition: Seeking Alpha opines on Service Corp post report. . . .other news

In today’s afternoon edition we bring you a Seeking Alpha article from BOOX Research that opines on and goes into the details on why it says Service Corporation International “has a positive long-term outlook supported by its market leadership position and solid fundamentals.” We also bring you information on an Iowa funeral home celebrating its 50th year in business, a report on how busy the funeral homes and crematoriums in Wales were during the height of the pandemic, and information […]

Finance

Security National reports revenue up, income down in Q1 2020 results

Back on May 18,2020, Security National Financial Corporation (SNFC) reported its 1st Quarter 2020 results that encompassed the period from January 1, 2020 to March 31, 2020.  The results, which you can see in a press release here, showed that the company increased revenues in the period compared to the prior year’s revenue by 29.2% but after tax earnings dropped 26.2%.  Net earnings per share for the quarter were $0.08 as compared to the 2019 1st Quarter net earnings of […]