Tag: Park Lawn Corporation

Finance

Park Lawn reports 3rd Quarter. . . .continued growth

Park Lawn Corporation (PLC), the funeral home and cemetery operator, with headquarters in Toronto and Houston, announced their 3rd Quarter 2020 results last week.  As a growth company, they continued to exhibit those traits — with revenue for the quarter growing to $83.7 million from last year’s 3Q revenue number of $66.5 million (all dollar amounts, unless otherwise indicated in this article are in Canadian dollar denominations).  That’s an increase of over 25% on the top line. You can access […]

Finance

Park Lawn lawsuit alleges trade secret irregularities

This article published last week from Bloomberg Law alleges that when former Park Lawn Corporation CEO Andrew Clark resigned and left the employment of the company he carried trade secrets with him to his new employer, Plot Box, Inc. The article from Bloomberg Law notes that a lawsuit was filed in a Delaware federal court on October 30, 2020.  Here’s what that article says, “the company (Park Lawn Corporation) said rival PlotBox, Inc. induced Andrew Clark to violate nondisclosure and […]

Finance

Acquisitions: Park Lawn adds South Carolina firm, others moving forward in Pennsylvania

The history of funeral directing and funeral home ownership in the United States has been one of passing the torch to the next generation of the family to carry on.  My family was no different. . . .we carried our cabinet shop, furniture store, funeral home from the 19th Century into the 21st Century.  That was a time period that spanned 141 years, from 1872 when our roots were planted until 2013 when the majority of our firm was sold […]

Finance

Park Lawn acquires West Coast funeral business

Park Lawn Corporation, with headquarters in Toronto, Ontario, and Houston, Texas, announced in a press release on October 1, that they had reached an agreement to acquire Bowers Funeral Service Ltd. of British Columbia.  You can see the press release here. According to the press release, Bowers Funeral Service is a three location firm with locations in Salmon Arm, British Columbia; Golden, British Columbia; and Revelstoke, British Columbia.  The press release also mentions that this acquisition will “complement Park Lawn’s […]

Finance

Park Lawn Corp reports 2Q 2020, CEO Green answers acquisition questions

Toronto based Park Lawn Corporation (PLC) reported its 2nd Quarter 2020 financial situation last week.  In it they reported great success on revenue growth and Adjusted Net Earnings.  CEO Brad Green commented on the financial report in saying, “We have grown together as an organization and are poised to continue with our projected growth targets.”   In the quarterly report that you can read here you will find that growth-oriented Park Lawn’s revenues grew from $58.6 million in 2Q 2019 to […]

Business

Is the Demographer the most important person in the corporate funeral office complex

I was talking to a colleague about a recent funeral home acquisition and asking what he thought of the transaction.  His comment startled me in that he said, “I hope they didn’t pay too much because no one dies in that community anymore.”  His implication was that the community we were discussing has became known as a “tourist and 2nd home area” and that, as not a place of main residences, the death rate per thousand is on the low […]

Afternoon Edition Finance

Afternoon edition: StoneMor receives 2nd offer to take it private. . . .and more news from the death care universe

StoneMor, Inc.,  the Philadelphia area based operator of funeral homes and cemeteries, announced in this press release on Friday, July 31, that they are in receipt of a 2nd offer from a company that would seek to take the company private.  If you remember, earlier this year, Axar Capital Management offered the company $0.67 per share to acquire the company.  That offer was rejected by StoneMor in June as, according to the press release, an inadequate price. Axar Capital Management […]

Finance

Carriage Services records record 2nd Quarter Revenue

Carriage Services reported their much anticipated 2nd Quarter of 2020 results on Tuesday.  You can get a copy of their press release here. The company, as well as other companies in the death care index are reporting their 2nd Quarters as their first full three month period of dealing with deaths and memorializations in the COVID-19 period.  For that reason, many are interested in seeing how their results were affected due to the issues around COVID-19 and funeral service. Those […]

Finance

Finance articles on Carriage Services, more

The Funeral Director Daily afternoon edition for today contains a couple of finance opinion articles written for Seeking Alpha on funeral home and cemetery operator Carriage Services, a short note on Park Lawn Corporations placement of 5.75% debentures, and some guidance from our friends at Clifton Larson Allen with regards to COVID-19 relief plans for retirement plans. Carriage Services:  Just a 2% dividend yield, but a 17% free cash flow yield. Carriage Services:  A funeral service provider that is growing […]

Finance

Into earnings season. . . what can we expect?

We’ve now moved into the 3rd Quarter of 2020 and, needless to say, it has been a different year.  I recently read an article from Barrons.com that put the year into perspective and also asked famed stock prognosticator Mario Gabelli to comment on where we are going from here.  Gabelli is the Founder, Chairman, and CEO of Gabelli Asset Management. On the backdrop of this article I thought I would give my perspective on what we might see from the […]