Tag: stonemor

Afternoon Edition Finance

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 […]

Finance Preneed

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, […]

Finance

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 […]

Finance

Investors still reluctant with death care stocks

I happened to see that at the close of the markets Friday that funeral home and cemetery operator and consolidator Park Lawn Corporation’s stock closed down over 9% from the previous day.  I looked for news on the company but could not find anything in the public world that would cause a precipitous drop in valuation like that. What it did cause me to do was take a look at all the other death care stocks that comprise the Funeral […]

Business Finance

Random thoughts on retail sales, funeral home restrictions, revenues, and acquisitions

Where were you when you first realized that the coronavirus may be something serious and you changed your course of habits to manage your lifestyle more safely?  Angie and I were on a scheduled flight out of Honolulu returning to Minneapolis on February 1, the day after President Trump had instituted the flight ban from China.  I remember wiping our seats down with clean wipes. . .something I had never done before. So, we have now had a little over […]

Uncategorized

News from the World of Death Care – 6.18.2020

In our afternoon update for today in the world of Death Care we bring you artcles that include StoneMor, Inc.’s decision to reject an offer from Axar Capital to purchase all of the outstanding shares of StoneMor and take the company private.  Funeral Director Daily had earlier reported on this potential development in May in an article that you can read here. We also bring you an article from WIBW Channel 13 in Topeka, Kansas, where the Shawnee County Health […]

Finance

Is StoneMor bouncing back?

StoneMor, Inc., the Pennsylvania based funeral home and cemetery operator reported their First Quarter of 2020 results last week.  These results cover the period from January 1 to March 31, 2020.  You can see a summary of the report here. The company operates 319 cemeteries and 88 funeral homes in the United States and Puerto Rico.  In their latest earnings transcript they mentioned that 18% of their revenues come from the funeral home side and 82% of their revenues come […]

Finance

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 […]

Business Finance Preneed

Inside the numbers with SCI

Last week we brought you an initial report on Service Corporation International’s report of their 1st Quarter 2020 results.  We also promised that we would go “inside the numbers” to see what other financial information we could find that may be of benefit to all of you who own or manage funeral homes. Today, we bring you a little more from inside the numbers and don’t bring you any surprises but the numbers put forth continue to show increased cremation, […]

Business

Lots of volunteer heroes in our profession right now

This Funeral Director Daily article will  not do enough justice to the funeral director/mortician profession but it is an attempt to show how those in our profession are going well out of their way to help other funeral directors in need and to help humanity as a whole. In New York City there are only five cremation retorts.  The backlog to get a specific deceased body cremated can be a month long.  There are also burials that need to be […]