Tag: Service Corporation International

Business Cemetery Preneed

From the Veterans Day file

Yesterday was Veteran’s Day across the United States and we noticed a couple of funeral related items that we thought we would pass on to our readers. First of all, we noticed how Service Corporation International’ s Dignity Memorial location in Western Michigan received some really good attention on a television talk show about pre-planning options for veterans.  You can see the video here.  This is great publicity and public information. We just think it is great marketing by the […]

Business

Annual budgeting. . .bringing in the revenue

Yesterday we started the talk of annual budgeting for a funeral home by looking at what are the expectations for overhead, profit, and a savings plan in that budget.  You can see yesterday’s article here.  Today, we will try to explain how we set the revenue parameters to make sure that we have a great chance to cover that budget — even if we under perform on the number of services we will do. To understand how I set our […]

Business

It’s November. . . have you set your budget for the new year

I live in Minnesota and every year when the calendar turned over into November I had two thoughts. . . Five months of winter ahead and time to make sure the income and expense budget for the funeral home is set up for the new year ahead. I operated a funeral home that over time had a volume of slightly over 300 calls per year.  From 1980 when I started until 2013 when I sold the majority of the business […]

Finance

Carriage Service’s 3rd Quarter. . . CEO speaks on new opportunities, letter of intent

Last week funeral home and cemetery consolidator and operator Carriage Services reported their 3rd quarter results for 2019.  After some disappointing results in the past year, the 3Q report was filled with enough upside results to put a little jump in the step of Carriage Service executives and stockholders.  You can see the company results here. Strictly from a revenue point of view, Total Revenue jumped almost 3% (or about 5.5% if “divestment revenue” is taken out from the equation […]

Finance

Death Care investments have been good in 2019

Funeral Director Daily tracks its proprietary Death Care Index or DCI periodically.  The DCI is a group of eight publicly traded company stocks that each have some skin in the death care industry or profession.  They range from companies involved in death care services to companies who manufacture things like crematories, to companies involved in the sale of preneed funeral insurance. The eight companies that compose the DCI include Service Corporation International (SCI), Carriage Services, Park Lawn Corporation, Hillenbrand Industries, […]

Cemetery

Trouble. . . or maybe. . .compromise in Paradise

The Hawaiian Memorial Park opened in 1958, one year prior to Hawaii joining the country as the 50th State.  The cemetery located out in Kaneohe on the eastern, or windward side of the island, was probably way out in the country and zoning issues were far from people’s minds.  More land was bought in 1982 and the business was bought by Service Corporation International (SCI) in 1999. According to this article from KITV of Hawaii, in 2009 SCI was stopped […]

Finance

Service Corporation gets some positive spin from Yahoo Finance

Service Corporation International (SCI), the publicly traded acquirer and operator of funeral homes and cemeteries in North America is poised to report its 3Q 2019 results on October 30.  Prior to that happening, we noticed this short report in Yahoo Finance entitled, “Will Service Corporations’s strategies help maintain momentum?”. The Yahoo Finance article concludes that SCI is “gaining from its endeavors and demographic trends”.  It mentions how the company is aimed at utilizing scale and efficiently deploying capital to move […]

Finance

Catching up with Tulip Cremation

Last spring Funeral Director Daily published an article on the inception of San Francisco based Tulip Cremation.  You can read that article here.  In it, we had talked that we had been at an industry get together at that time and a lot of talk revolved around how Tulip Cremation, and its internet direct to the consumer business model, would play out. As we wrote in that article, Tulip Cremation had launched and their web-site showed that they were operating […]

Finance

Foundation Partners adds another Colorado location

The state of Colorado has been a hotbed of funeral home and crematory acquisitions in the last couple of years.  Many of  the larger players in the death care space, Service Corporation International, Park Lawn Corporation, and Foundation Partners Group, have all made acquisitions in the state during that time frame. It was announced on Monday that Foundation Partners Group was making another acquisition in the state when a press release, that you can read here, was released by the […]

Business Cremation

Is this the next “thing” for your funeral home?

In 2011 Davina Bambrick was forced to euthanize her 14-year old dog, Bennie.  She now says that the worst of that situation was when “Bennie was abruptly whisked away” after being euthanized.  She commented recently, “It was kind of an unusual process, that lacked a lot of care or empathy at the time.  We weren’t offered any advice, and we weren’t offered any choices.” According to this article from Sunday’s Sydney (Australia) Morning Herald, Bambrick has now worked through that […]