Tag: public funeral companies

Finance

Carriage Services reports 2020 year. . . shows the trends

In a press release that you can read here you can find out that Houston, Texas, based funeral home and cemetery consolidator Carriage Services recorded record results not only for the 4th Quarter of 2020 but for the full year of 2020 as well.  Not only did Carriage Services record these record financial results, they exceeded the 2022 plan that they had set in their five year milestones only a year ago. In essence they passed that 2022 goal two […]

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 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 […]

Finance

Goetz to leave Carriage Services?

This morning we noticed a news release from Market Exclusive that you can see here pertaining to a K-1 filing from Carriage Services.  The filing informed the public that effective June 26, 2020, President and Chief Operating Officer William W. Goetz had resigned from those positions at Carriage Services as well as had resigned from a seat on the Carriage Services Board of Directors. The filing states in part, “The resignation was not the result of any disagreement Mr. Goetz […]

Business

SCI CEO Tom Ryan: “We’re going to have some revenue pressures”

Over the years I’ve often thought that the business of funeral and cremation care as a business is overlooked by those that teach or write of things happening in the business world.  It is not everyday that Forbes magazine does an in-depth article on our profession. Last week, Forbes featured an article that you can read here entitled, “How the pandemic is killing the death business.”  The article features an in-depth interview with Service Corporation International’s CEO Tom Ryan.  It […]

Finance

Sales, profits drop at Matthews International

Last week Matthews International, a multi-faceted United States public company based in Pittsburgh, Pennsylvania, reported 3rd Quarter results for their fiscal year which will end on September 30.  The 3rd Quarter results are for the period ended June 30 and you can read the Matthews press release about the financial report for the 3rd Quarter here. Of interest to those of us in the death care industry is that Matthews is the parent company of Matthews Cremation, Star Granite and […]

Finance

Park Lawn Corporation moves into St. Louis market

In a press release out of Park Lawn Corporation headquarters in Toronto, Ontario, today, the company announced that it had acquired the assets of two-location funeral business John L. Ziegenhein & Sons Undertaking, Inc.  According to the press release that you can read here, the Ziegenhein Funeral Homes were acquired for a purchase price of US$4.2 million. Andrew Clark, CEO of Park Lawn commented, “The addition of Ziegenhein Funeral Homes is an excellent opportunity to further expand our existing footprint […]

Finance

Security National Cemeteries and Mortuaries revenue jumps 23% in 2018

Utah based Security National Financial Corporation issued their 2018 financial results earlier this month and you can see a statement from them here.  The company announced a company wide increase in revenues of 1% to over $279 million.  In addition, SNFC announced that their after-tax earnings from operations jumped over 53% from about $14 million in 2017 to $21.68 million in 2018. SNFC operates in three segments:  Life Insurance, Mortgages, and Cemeteries/Mortuaries.  At Funeral Director Daily we are most concerned […]

Finance

Park Lawn Announces acquisition of 8-location Wisconsin firm

Park Lawn Corporation, the Toronto based cemetery and funeral home consolidator announced last week that they had reached an agreement to purchase Madison, Wisconsin based Cress Funeral Service for US$ 20.3 million.  You can read a press release from Park Lawn here. Park Lawn, in their press release, makes these statements: The price to be paid is within the company’s publicly stated EBITDA range for transactions. The purchase will be financed by the company’s existing credit facility. The acquisition will […]

Finance

SCI Keeps Chugging Along

Death care public company and industry leader Service Corporation International announced 3rd Quarter results yesterday and with the announcement came earnings news of $0.37 per share for the quarter compared to $0.29 per share in the same quarter one year ago.  Total revenues, which include acquisitions, are up for the quarter to over $778 million as compared to last year’s quarterly revenues of $731 million — an increase of 6.5%.  For the 2018 year’s first nine months total revenues are […]