Tag Archives: Stewart Enterprises

Ten Companies controlling the Funeral Industry-Your Funeral Guy

14 Jan
Amazon.com-Logo
Image via Wikipedia

There has been an article on Ten Companies Controlling the Funeral Industry. What is interesting in the article are the Newcomers Wall Mart and Amazon .com These companies have only entered the funeral industry in the last several  of years. This is an indication of traditional Funeral industry decline and the desire of folks to pay less in funeral cost.

Here is a summary of the funeral business from the Article

The death industry is a tale of two economies. A relatively few large companies, most of them publicly traded, control most of the businesses that sells caskets and granite for memorials. The rest of the death industry is made up of many modest businesses. Most of the 19,500 funeral homes in the country are small operations, often owned by the same families for generations. There are more than 120,000 cemeteries and many of these belong to families, nonprofits, and religious institutions.

via 247wallst.com

Here is al ist of the ten companies in the report.

Hillenbrand Inc-HI

Service Corporation International (SCI)

Walmart

Carriage Services Inc (CSV)

1-800 Flowers.com (FLWS)

Rock of Ages Corp(ROAC)

Stewart Enterprises(STEI)

Matthews International(MATW)

Amazon.com (AMZN)

Stone Mor Partners(Ston Mor)

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2nd Largest Funeral Corp-Continues decline-Your Funeral Guy

9 Sep
Net Income
Income Decline illustration- Image via Wikipedia

The second largest Funeral Corporation in The United States Stewart Enterprises Inc (STEI)is continuing it’s Funeral Industry decline.

Stewart Enterprises Inc. said Wednesday its fiscal third-quarter profit edged lower as the funeral provider recorded higher costs and expenses.

The company said net income was $6 million, or 6 cents a share, for the three months ended July 31. That compares with net income of $6.1 million, or 7 cents a share, in the same quarter last year.

via www.businessweek.com

Now coming off the last year(2009) the worst in the funeral industry, due to the great recession the giant should find an easy path to growth.

Again this points to the fact that Families are paying Less for Funerals(less in Funeral Cost) and the rise of cremation.

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Stewart Enterprises, Funeral Consumers Alliance settle lawsuit |Your Funeral Guy

21 Jun

Stewart Enterprises Inc , ( NYSE: STEI) and the Funeral Consumers Alliance (FCA) have settled a  lawsuit from 2005 in an undisclosed settlement.

Stewart Enterprises is simply now complying with the funeral rule and accepting third party caskets.

JEFFERSON, La. and NEW YORK, June 15, 2010 (GLOBE NEWSWIRE) — Stewart Enterprises, Inc. (Nasdaq:STEI), Funeral Consumers Alliance, Inc. (FCA), and their respective counsel today jointly announced that Stewart and FCA have entered into a confidential Settlement Agreement ending a lawsuit filed by FCA and several individuals in 2005. The settlement provides for dismissal with prejudice of all claims filed by the plaintiffs without any finding or admission of liability or wrongdoing by any party…..

“Plaintiffs brought this lawsuit to ensure, among other things, that funeral homes are honoring consumer rights with respect to casket purchases. We believe that Stewart has clearly demonstrated a commitment to apply the same standards to caskets purchased from other sellers as it does to its own merchandise.”

via www.globenewswire.com

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Stewart Enterprises Profit Decline Shows Funeral Industry Decline|Your Funeral Guy

12 Jun

A decline in profits in the second largest funeral corporations profits is a further example of traditional funeral industry decline.  This is  according to the Wall Street Journal on Stewart Enterprises:

Stewart Enterprises Inc.’s (STEI) fiscal second-quarter earnings fell 5.4% despite better sales, surprising analysts, who on average expected an earnings increase, as the funeral company’s margin suffered despite better sales.

via online.wsj.com

I had the occasion to do a traditional funeral this week. I observed a significant number of cremated remains in the fueral home’s office waiting to be returned to families.

This was a hard reminder of the rise of cremation and the demise of the traditional funeral and the traditional funeral industry.

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Morningstar, Stewart Enterprises point to Funeral industry Decline|yourfuneralguy

3 Jun

The Second Largest Funeral Corporation in the United States has received a lower credit rating from Morningstar. Stewart Enterprises International STEI, like many corporations simply has too much debt for a dying death care and Funeral Industry.

The rise of cremation written extensively about here seems to be a major cause of this situation. This is along with the indiscretions and instability of funeral preneed are making stable funeral industry revenue difficult.

Secular trends limit opportunities for growth in the death-care industry. First, medical advances are extending life spans. As a result, the Census Bureau estimates that the number of deaths will increase just 1% annually.

Further, cremation has become increasingly popular, with cremation rates rising from 32% in 2000 to 42% today. While death-care companies do generate revenue from cremations, it is much lower than traditional interment. As a result of these factors, we foresee very limited growth for the death-care industry and doubt that Stewart will be able to buck this trend.

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Morningstar is initiating credit coverage of Stewart Enterprises STEI with an issuer rating of BB. We think a combination of high leverage, negative long-term secular trends, and investment risk makes the firm’s debt a dicey proposition.

via quicktake.morningstar.com

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Stewart Enterprises May turn to acquisition of Property To Offset Funeral industry Losses |Your Funeral Guy

10 Apr

Stewart Enterprises Inc, went a bragging recently about it’s Q1 slight increase in financial numbers. At the Same time Executive Tom Crawford hinted that STEI, Stewart Enterprises may adopt a property  acquisition strategy like that of Service Corporation International (SCI) and other industry giants to offset losses.

Stewart Enterprises Inc, showed a slight revenue increase in Revenue In it’s 1st Quarter Earnings in 2010. The Revenue Increase is do in part to an  accounting change (put in place in November of 2009)and lower  taxes in the State of Louisiana  where NYSE:STEI is located. However it will take more than a small quarterly increase, or even an outstanding year for any Funeral Corporation to make up for the losses that occurred in Funeral Revenue in 2009.

In perhaps a sign of the company’s improvement, Crawford said Stewart is once again eyeing opportunities for acquisition.

“We had laid off on that but we are ready to go there again,” Crawford said.via www.nola.com

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Ten Funeral | Funeral News predictions for 2010-YourFuneralGuy

4 Jan

Here are the Top Ten Funeral and Funeral News predictions for 2010.

Ten top funeral predictions for 2010.

1Cremation rate will rise at  Faster Rate in 2010 than 2009.bringing down the average cost of a funeral.

2.Funeral home,closings mergers, and Bankruptcy’s will grow.

3. The big three Service Corporation International, Stewart Enterprises Inc  and Batesville Casket  Company will  continue to have revenue decline.

4. The  Bereaved Consumer Bill of Rights Act  bringing cemeteries under the funeral rule will. die in committee in the United States Congress.

5. The digitizing of all aspects of the  funeral will continue including webcasting, online obituaries as well as video tributes.

6. Service Corporation International  NYSE SCI will continue to Exposed in Scandal  as “big death” and the often whispered about Houston “Enron Evil”

7. Funeral Alliances among Funeral Industry Corporations.will grow as the industry tries to stop it’s decline.

8. Consumers will catch on to the New FTC Ruling and negotiate the basic service fee when purchasing Alternative  Funeral Services.

9. The handling of digital assets will continue to grow as an important  part of the Funeral arrangement process.

10. As he unemployment remains high in 2010 Mortuary School enrollment will Continue to grow.

There are more funeral predictions that will be made but this will do for now.

Congrats You made it to 2010 into the 2nd decade of the 21st Century. It has been a rough couple of years for most everybody.

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