Tag: funeral homes

Finance

Batesville notes from Hillenbrand Industries Quarterly Report

Last week Hillenbrand Industries reported their Fiscal Year 4th Quarter of 2022 and their Year End results for Fiscal Year 2022.  It is noted that Hillenbrand operates on an annual fiscal year calendar from October 1 to September 30. Over the years Hillenbrand has moved from a company predominantly based in the death care business via their operation of Batesville to a more well-defined manufacturing industry conglomerate with Batesville as a minority representative of sales and profits.  For instance, 4Q22 […]

Business

Your Business Value: A Funeral Home Owner’s Guide to Prepping for 2023

Editor’s Note:  Today’s guest columnist is Jake Johnson, CEO of Johnson Consulting Group.  His article begins here:   It’s no secret to anyone right now that businesses everywhere are feeling the impacts of inflation. The funeral profession specifically has seen a rise in costs, and it’s resulted in increased stress and pressure on owners. These shifts are inevitable, and if businesses don’t start making changes and prioritizing their business value for the future, they’ll find themselves at a severe disadvantage. […]

Finance

Security National after tax earnings decline 121% in 3Q 2022

In the 3rd Quarter of 2022 earnings release for Security National Financial Corporation (SNFC) released earlier this week, Scott M. Quist, the company’s President stated, “2022 is continuing to be a challenging year for our Company due primarily to the dramatic rise in inflation and interest rates, and the dramatic fall in equity values. In the mortgage space, purchase transactions are down roughly 40% YOY and refinance transactions are down roughly 80% YOY. Equity values, as measured by the S&P […]

Business Regulations

Online price lists are showing up

Earlier this week I was informed by a Funeral Director Daily reader that online price lists have started to appear on the websites of Service Corporation International (SCI) funeral homes.  Just to be clear, I’m not sure that this is news or not — because I’ve never taken the time to check out individual SCI funeral homes to see if they had price lists or not. However, the comment that I received from a reader was this, “Did you know […]

Afternoon Edition

Park Lawn Corporation adds 1,000 call acquisition

In a press release made public on the heels of the company’s 3rd Quarter report, Park Lawn Corporation (PLC), with headquarters in Houston, Texas, and Toronto, Ontario, announced that they had acquired the Schrader, Aragon & Jacoby Funeral Home, Mountain View Memorial Park, and Bustard & Jacoby Funerals, Cremation, Monuments and Receptions of Cheyenne and Casper, Wyoming.  The press release, that you can read here, was made public on Monday, November 13. It was announced that the transaction is expected […]

Business Finance

Dignity plc and their price point pivot. . . . can they remain profitable?

2022 marked a point in the history of Great Britain’s largest death care provider, Dignity plc, where they planned to increase consumer market share for their services by lowering their prices.  What they maybe didn’t anticipate was the highest inflationary pressures in the last 40 years on the costs of their services to happen at the same time. It’s a certain mathematical formula that lower sales prices coupled with increased expenses will result in lower margins. . . and that […]

Finance

Park Lawn Corporation reports 3rd quarter — mixed results

The 3rd Quarter of 2022 has shown a trend of less deaths than the comparable 3rd Quarter of 2021.  As a matter of fact, as you can see from this report from the Center for Disease Control (CDC), provisional deaths for 3Q 2022 numbered 751,497 as compared to 874,495 in the same quarter of 2021.  That’s a decline of 14.1%. And, that decline in deaths has resulted in a decline in revenues for public company death care companies.  However, Park […]

Business Regulations

Will Vermont lead a funeral director employee comeback?

We’ve all talked about it and see it out in the profession — a lack of trained and licensed funeral directors to combat the coming years when America faces a wave of Baby Boomer deaths.  Without the influx of new professionals, many funeral homes will be understaffed which can lead to a vicious cycle of people leaving the profession for a variety of reasons, which in turn, causes less professionals available to do the death care work. . . . […]

Business Uncategorized

SCI sees “more mortality” than expected. . .What’s behind it?. . .I don’t think this will surprise you

Because I report on them, and partly because I just like learning what is happening, I generally read the “Earnings Call Transcripts” that take place every quarter between the public company death care executives and the financial brokers that cover their companies.  If you’ve never read these they end up being a “give and take” of questions and answers about how the specific company is performing and what they see with their business moving forward.  It gives those who earn […]

Regulations

Federal Trade Commission apparently set to revise “Funeral Rule”

I’ve worked almost my entire career under the Federal Trade Commission’s (FTC) “Funeral Rule”.  The rule, for all practical purposes, required me to introduce “price” into the conversation whenever someone either called the funeral home or walked into the funeral home and asked about funeral, cremation, or memorial services.  It also required me to hand out itemized “price lists” in a format as prescribed by the FTC. Originally, the FTC came to the “Funeral Rule” because it perceived, possibly correctly, […]