Tag: public funeral home companies

Finance

StoneMor reports 3rd Quarter: Turnaround continues to move forward

A couple of years ago I looked at StoneMor and their operations and told readers that they should, if they had a StoneMor competitor in their market, look at a possible acquisition of that competitor.  Quite frankly, I was of the opinion that the way StoneMor was moving would probably lead to a liquidation and some of those businesses might be able to be purchased at the right price. However, while there has been some pain and some selected liquidation […]

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

Carriage Services’ Mel Payne “We went big, we went bold, we went long term”

We reported back in February on Carriage Services’ 2019 4th Quarter and their 2019 year end report.  We told you at that time we would be listening for their Earnings Call and would eventually report on that as well.  You can access the entire earnings call from this web page.  Here are some interesting comments from Carriage Services executives that we bring to you: From William W. Goetz, the newly hired President and Chief Operating Officer of Carriage Services on […]

Finance

Carriage Services closes Senior Notes Offering

  Carriage Services, a publicly owned death care provider that according to its web-site owns and operates 178 funeral homes in 29 states and 32 cemeteries in 11 states, announced last week that they have closed a Senior Notes Offering and entered into a new Senior Secured Revolving Credit Facility.  You can read the company’s press release about this announcement here. According to the press release the proceeds from the sale of the notes will be used to repay its […]

Finance

Park Lawn completes Signature Deal

At the close of business Monday, May 7, Park Lawn Corporation announced that it had completed its announced purchase of Signature Funeral and Cemetery Investments, LLC (the Signature Group) for approximately US$123 million.  You can read the press release from Stockhouse here. According to Park Lawn CEO Andrew Clark, “With the acquisition of Signature Group, we now have the team in place to build a consolidated and integrated US business platform. ” The release also states that Signature Group leadership […]

Finance

Service Corporation Reports 1Q 2018

It is earnings time for public companies and today we are reporting on what Service Corporation International reported in their 1st  Quarter report of 2018.  You can see their complete press release, including financial information, here. In essence, Tom Ryan, SCI’s CEO, made the following statements: “. . .earnings per share growth of 9 cents (to 47 cents total) or about 24% over last year. . .about half of this increase was. .  attributable to improved operating performance in our […]

Business

Memorial Mortuaries and Cemeteries Awarded “Best of Utah”

The death care branch of public company Security National Financial Corporation, Memorial Mortuaries and Cemeteries, was awarded two of the Best of State Awards in Utah recently.  You can read about it in the company’s press release here. The Best of State Awards were presented in the categories of Best of State for Funeral Services and Affordable Funerals and Cremations for Budget Funerals according to the release.  Some criteria for the awards include being able to differentiate from the competitors […]

Finance

Park Lawn Corporation Sets Dividend

Last Thursday, March 22, Park Lawn Corporation announced its March monthly dividend.  The company retained the dividend at $0.038 per month which figures out to a yearly dividend of $0.46 per share. Park Lawn’s stock closed last Friday at $26.60 per share leading the dividend to pay a yield of 1.7%.  That stock price compares to a price of $22.85 at the end of calendar year 2017 – an increase in value of 16.4% in that time period. Park Lawn […]

Finance

Park Lawn Continues Acquisition Spree

Yesterday Park Lawn Corporation announced another acquisition of a funeral home.  Fresh off the announced purchase of seven cemeteries in New York and New Jersey last week for a combined price of close to $50 million, the Toronto based company announced the purchase of the Billingsley Funeral Home in Huntsville, Ontario. In a press release from Business Insider that you can read here Andrew Clark, Chairman and CEO of Park Lawn Corporation, stated, “Billingsley’s proximity to our existing operations in […]

Finance

Park Lawn Corporation Buys Additional U.S. Cemeteries

In a press release issued yesterday from Park Lawn Corporation of Toronto, that you can read here, the company announced the acquisition of all of the outstanding membership interest of CMS Mid-Atlantic for a purchase price of approximately US $50 million. CMS Mid-Atlantic, according to the release, operates, manages, and provides financial services for seven cemeteries – six in New Jersey and one in New York. Other highlights of the press release include the following information: This acquisition continues to […]