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 […]
Tag: Park Lawn Corporation
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 […]
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 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 […]
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 […]
Assurant announces dividend, more news
World-wide financial services company Assurant announced yesterday a quarterly dividend in the amount of $0.63 which is the same amount that had previously been in place for preceding quarters. You can read of their announcement here. Assurant is one of the eight stocks that make up the Death Care Index (DCI). They pertain to the death care world with their division of preneed funeral insurance which is predominantly situated in North America . At a closing price as of Thursday, […]
Green, Dodds to lead Park Lawn into the future
In a press release from the company that you can read here, Park Lawn Corporation announced Monday that Interim CEO J. Bradley Green would have the interim tag removed and has been named Chief Executive Officer of the Toronto based death care company. In the same announcement, Park Lawn’s Board of Directors announced that Jay Dodds would be named the company’s President and Chief Operating Officer. It was also announced that Green and Dodds would become members of the public […]
Lawsuit against Park Lawn affiliate
Last week Funeral Director Daily learned about a lawsuit against a Park Lawn affiliate cemetery from this article. The article contends that the American Moslem Society (AMS) of Dearborn, Michigan, has filed a lawsuit alleging an attempt by Woodmere Cemetery to breach its contract with the mosque. According to the article, AMS has purchased more than $5 million worth of graves and burial services over the last two decades. AMS now alleges that a contract that was signed in 2017 […]
Carriage Services reports First Quarter 2020
A short time ago Carriage Services, the Houston, Texas, based funeral home and cemetery operator announced they would delay their First Quarter 2020 financial results so that they could also report cornavirus related April results and May trends. It is interesting to note that their First Quarter report that you can access here is titled, “First Quarter and April 2020 Results”. Here is what President and Chief Operating Officer Bill Goetz did say about the first quarter. “Our performance through […]
Investors seem wary of death care stocks
We last brought our readers an update on the Funeral Director Daily Death Care Index (DCI) on April 6, 2020, which represented values as of the close of business on Friday, April 3. As we tell national publications that call us about our DCI, it is not a scientific weighting of public companies in the death care business, but does give some semblance to what the investment community is thinking about the funeral, cemetery, crematory, and preneed services business community […]
