Seeking Alpha author Daniel Jones made the following comment in this opinion article titled “Carriage Services is coming back to life” published last week about the company:

“. . . I believe that the market is currently underestimating Carriage Services. The business has done a fine job of reorienting itself over the last couple of years, and it clearly is back in growth mode. . “

As is Funeral Director Daily’s policy for financial opinion articles, we will link the article and show some quotes on the article but let the reader make their own decisions as to the opinions given.

Jones makes the following claims at the beginning of the article about Carriage Services:

• “Carriage Services remains deeply undervalued, with strong top-line growth and demographic tailwinds positioning it for long-term success.”
• “CSV’s recent acquisitions and expansion into new markets signal a return to ‘growth mode’ after significant debt reduction and strategic review.”
• “Despite mixed profitability in recent years, 2025 guidance points to higher revenue, improved adjusted earnings, and attractive valuation versus peers.”

Funeral Director Daily will also provide these interesting graphics that accompanied the article for your knowledge:

The continued high fragmentation of the industry allows for more consolidation

America’s aging population creates tailwinds for Death Care providers

Carriage Services location map (As of December 31, 2024)

Disclaimer — The author of this article for Funeral Director Daily is a shareholder of Carriage Services.

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“A servant’s attitude guided by Christ leads to a significant life”

I received a marketing piece from a retirement wealth management company the other day and in looking at it found some statistics on the Baby Boomer generation that I feel pertains to funeral homes, cemeteries, and death care in general.  In particular, I wondered how funeral homes are reaching out and making sure that they connect with this group to build market share and business.

Here’s four facts that the marketing piece laid out that I believe have some implication on how your funeral home can prosper depending on how you strategize in turning these groups of older adults into future clients.  Considering that the Baby Boom generation is generally considered being born between 1946 and 1964, we have about five more years of Baby Boomers turning 65 years of age.

1. The 65-and-older population is one of the fastest -growing demographics in the United States.  In 2022 there were 58 million Americans aged 65 and older.  That number is expected to grow to 82 million by 2050.
2. Every day between now and the end of the decade 10,000 baby boomers are expected to turn 65.  That’s one roughly every 8 seconds.
3. Seventy-three percent of retirees say they are confident about having enough money to live comfortably throughout their retirement years.
4. Sixty-four percent of retirees depend on Social Security as a major source of their income.  The average monthly Social Security retirement benefit as of January 2024 was $1,907 per month.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  There’s a lot of information that you can take from these four simple facts about the Baby Boomer generation and funeral service.  For instance, if the number of people 65 and older is going to grow from 58 million to 82 million in the next couple of decades, funeral service is poised for a greater number of deaths moving forward.

Another inference that I received from this information is that 73% of retirees indicate that they believe they can live comfortably through retirement.  If that is true, it is probably an indication that price is not the deciding factor on why they are, in many instances, spending less on death care services.  I think that proves that for those individuals death care professionals must be really thorough in going over death care planning with them. . . . . Simply because they say they may want “cremation” does not necessarily indicate that they are not willing to spend for the services or “after cremation” products that may be available to them.

Satisfying that group of people with their death care expectations will require that death care providers are familiar with all options available for funerals, cremations, alkaline hydrolysis, and natural organic reduction as well as the memorialization options available following those disposition methods.

On the other hand and somewhat in contrast to that thinking there also seems to be a large number — 64% — that rely on Social Security as their primary source of income. . . . and that monthly income is, on average, $1,907 per month.  While that group of people may wish to have traditional funeral services and more death care services, those services may become out of this group’s reach financially. . . . So, it appears that there may be a group of Baby Boomers who will require lower cost care and disposition services also.

The secret with this group of consumers will be how to make their service choices profitable for the funeral home.  It’s also conceivable that those consumers who are “comfortable” might fall out of that group into this “less comfortable” group because of potential health care and senior living costs as they age.

I think as more and more data becomes available about the death care consumers of the next two decades, death care providers will be able to hone in and offer the proper services necessary to be profitable.  Until that information becomes clearer it would be my position to put a full-court press on preneed services to get in front of these people before competitors to engage with them and serve each individual with preneed plans for the services that they are comfortable with.

Related Article — Fact Sheet: Aging in the United States.  Population Reference Bureau

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“A servant’s attitude guided by Christ leads to a significant life”

We are blessed to live in a country which allows for religious freedom.  And, when you work as a funeral director helping those who have lost loved ones to death, it’s a privilege to help even when those client families don’t believe as you do.

However, have you ever thought about those that don’t have your faith and wondered what are they looking forward to?  In my Christian faith I’ve learned that death is not the end. . . it is the beginning of a new and glorious life to come.

As I’ve aged I tell all my friends who will listen that I certainly have lived an abundant life. . . .and, it’s a life filled with gratitude about what others, and most of all, Jesus Christ did for me.

Tom Anderson
Funeral Director Daily

As funeral directors we live our lives intermingled with those who are grieving.  If Easter, which signifies the resurrection of Jesus Christ, is the most important day of the Christian calendar, then Christmas, the day of Christ’s birth is the close second.

Today reminds me of all the times that I volunteered to be on call on Christmas Eve. .  . . it was done as a favor to my colleagues because our family celebrated in our home community and did not have to travel like some of my colleagues.

I didn’t mind getting death calls on Christmas Eve.  It always made me feel closer to Christ — because I was in the world helping the people that needed it at that time.  I believed that is what Christ wanted me to be doing at that time– helping my fellow man.

So, to those of you on call and working Easter Sunday.   I know it is a bummer that you cannot spend the whole day with your family.  However, know that what you are doing today on those calls is being the hands of Christ in your community.

Consider yourself lucky that you have the privilege to care for those in need. . . . . what could be more fulfilling.

Christ is Risen. . . . .He is Risen indeed!!!!

Have a Happy Easter!!!

*If this article looks familiar it is a reprint from our 2023 Good Friday article. . . I figured it was worth hearing again.

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“A servant’s attitude guided by Christ leads to a significant life”