Tag: Service Corporation International

Finance

InvoCare delivers “Solid Profit” in 2019

The headline from a Motley Fool piece that you can read here states, “InvoCare delivers solid profit and dividend growth in FY2019”.  Australia’s largest funeral and cremation provider recorded revenue growth of 4% for the year which led to a 19.6% increase in after tax operating earnings. For the year, InvoCare brought in revenue of AUS $ 500.35 million (US $329.17 million) and recorded after tax net profits of AUS 63.75 million (US$41.94 million). The article mentioned that the gains […]

Finance

SCI reports 4th Qtr and Year End numbers

Even though yesterday was the President’s Day holiday and the markets were closed across America, Service Corporation International took the opportunity to report their financial numbers for the 4th Quarter of 2019 and also for the Year End 2019.  We will just report some of the numbers today and after we have a chance to digest the company’s conference call with brokers we will add more commentary. Here is a report from SCI on 4Q 2019 and Year End 2019. […]

Business

SCI lists another iconic chapel for sale

Not so long ago we told you in this article about Service Corporation International (SCI) closing and selling the historic designated landmark H.M. Patterson & Son Chapel in Atlanta, Georgia.  That chapel had served for 91 years as the flagship chapel for H.M. Patterson in the Atlanta area. We recently learned that SCI has listed the 30,000 square foot historic Hazen & Jaeger Funeral Home building at 1306 North Monroe Street in Spokane, Washington, for sale also.  The building dates […]

Finance

Public funeral home companies and 2019

I will preface this article to say that it is being written on Friday, January 10.  Because of that all prices quoted come from the end of the day on Thursday, January 9.  I will also say I am not a stock security analyst and all opinions are mine alone.  Finally, I do own stock positions in Service Corporation International and Park Lawn Corporation. With that said, I thought it might be fun to compare what these public funeral home […]

Business

Landmark SCI chapel to close today

According to this article from the Atlanta Journal-Constitution, the 91-year old H.M. Patterson and Son Spring Hill Chapel in Midtown will be closing at the end of business today – Friday, January 10.  The funeral business and its adjacent gardens, which had reached “Landmark Status” was purchased by a developer in December. The new owners, Portman Holdings say, “we intend to preserve the chapel and will engage a design and construction team with the relevant experience”.  It is expected that […]

Finance

Service Corp purchases Louisiana based properties

At least one source has indicated in a news story that Houston based Service Corporation International (SCI) has purchased historical family funeral business properties in Baton Rouge, Louisiana.  The Greater Baton Rouge Business Report reported yesterday in this article that SCI has, at a minimum, purchased the property of the Rabenhorst Funeral Home in Baton Rouge. According to the Rabenhorst web-site that you can access here, the funeral business has two locations – Rabenhorst Downtown and Rabenhorst East.  According to […]

Finance

Musgrove Family Mortuaries joins Foundation Partners Group

We learned last week that one of the northwest United States premier funeral home families has decided to cast their lot with Foundation Partners Group (FPG).  Musgrove Family Mortuaries and Cemeteries, based in Eugene, Oregon, announced last week that they had been acquired by FPG.  You can see the press release from Foundation Partners Group here. Musgrove Mortuaries and Cemeteries history comes out of the Day and Henderson Funeral Home founded in 1883.  The Musgrove family gained ownership in 1973 […]

Finance

Investment thinking on Service Corporation International

In my morning e-mail on investment opportunities this morning was an opinion on Service Corporation International.  Michael Gayed of Seeking Alpha wrote a short piece on SCI as an investment opportunity that I thought I would pass on to my readers.  You can read Gayed’s piece here. What I found interesting in the article was not necessarily stock market or business related but demographic related.  Just last week I wrote an article for Funeral Director Daily entitled “It’s about Demographics” […]

Finance

New Carriage Services COO puts some skin in the game

As reported last week on Funeral Director Daily, Carriage Services has hired William Goetz as its new Chief Operating Officer.  Late last week we learned that Goetz has came out of the chute by showing confidence in the company the he will lead.  It was reported in this article that on Wednesday, December 11, 2019, Goetz purchased 10,000 shares of Carriage Services common stock at an average share price of $27.48 leading to a total value investment of $274,800. Funeral […]

Finance

Foundation Partners keeps rolling along

It seems that we are announcing acquisitions by the Foundation Partners Group in rapid succession.  Today we bring you the news that last week it was announced that Foundation Partners Group announced in this press release that they had purchased two funeral/cremation companies on the east, or Space Coast, side of Florida.  The two firms will add six locations to the Foundation Partners Group portfolio of properties. The press release announces the acquisition of Ammen Family Cremation and Funeral Care […]