Everstory Partners, who may be the nation’s 2nd largest Death Care provider by serving over 65,000 families per year, recently announced completed renovations at their Cedar Hill Funeral Home just outside Washington, DC.  This press release from Everstory will give you more information on the recent transformation at the funeral home that serves about 1,400 families per year.

According to the press release, “Everstory Partners is transforming its funeral homes to emphasize hospitality and comfort for families.”

Again, according to the press release, “Everstory Partners’ mission is to create supportive spaces where individuals and families can find solace, meaning, and hope in the midst of loss. Since 1999, the company has grown to include 463 cemetery, funeral, and crematory locations serving more than 65,000 families a year across the United States (including Puerto Rico) on both a pre-need and at-need basis.”

Here is the website for Cedar Hills Funeral Home and Cemetery.

Here is the website for Everstory Partners.

LIlly Donohue
Everstory CEO

A Little History — You may recall that Everstory Partners grew out of the public company funeral home and cemetery operator StoneMor Partners that was taken private by Axar Capital Management in November 2022.  About a year later, the company re-branded as Everstory Partners.  Andrew Axelrod was the principal behind Axar Capital Management and today serves as the Chairman of the Board of Everstory Partners.  The day-to-day operations have been led by President and Chief Executive Officer Lilly Donohue since the take private movement in 2022.

The “Quiet Company” — If you Google “the quiet company” you will come up with at least one result that mentions Northwestern Mutual Life Insurance company who branded that way at one time.  Google’s definition of “the quiet company” said this, “formerly Northwestern Mutual, a financial giant noted for its understated, trust-focused approach.”

Northwestern Mutual has re-branded with a bolder approach than being the “quiet company” but I remember that moniker because I used Northwestern Mutual as the cornerstone of my financial holdings when I started in business over 40 years ago.  There is no doubt that they were understated, but financially strong with great ideas and avenues for their clients.

I bring this up because when I checked up on Everstory Partners I was very impressed with what I have seen in the past three years as to the development of the company . . . .and I had not heard much about what they were doing.  Here’s a brief video of Everstory Partners being featured on Viewpoint with Dennis Quaid that will give you some insight on how they have been rebuilding the company since the take private moment.

Like Northwestern Mutual, I could not help but think that Everstory Partners is restoring an “understated and trust-focused” approach to what they are doing. . . . and, that should bode well for them moving into the future.

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

In today’s world we have begun to realize that the stress of certain employment, including being a funeral director, can have adverse effects on one’s physical and mental health.  To that end, it is probably important that one has a hobby or other interest that can take his or her mind off the constant attention of the work of Death Care.

I was fortunate — I never thought about my mental health while working — but I also had outlets outside of the funeral business.  As a sideline I operated college basketball and volleyball tournaments and I also volunteered as a Little League coach.  In addition, I was fortunate to put my mind to work as a member of many community boards.

When I look back on my career, there certainly were times that I know I was stressed — usually it was about making the situation “perfect” for a client family.  I worried about such things as the police escort showing up, the vault being in the cemetery when we arrived, and more.

I bring you that preamble today because I noticed this article from a Washington state newspaper titled “New owner joins KXLE station”.  I found the title a little odd simply because it was listed under “funeral home” articles on my list of reading material.

Then I read the article and found this quote from Henry Johnston, owner of the Johnston & Williams Funeral Home of Ellensburg, Washington, “Doing funerals for so many years can take a mental toll on you eventually. I needed a creative side.”

The article went on to say that Johnston purchased a partnership in the radio station partly because other options for the station could have meant that it left town and the community would be without its local voice.

Johnston also states that “he will continue his full-time work at the funeral home, but will also take an active role in operations of the radio station.” . . . .and, he’s not really a novice as his first job was at a radio station in Idaho as a teenager.

Here is the website of the Johnston & Williams Funeral Home and Crematory of Ellensburg, Washington.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  Today’s article is not really about a partnership in a radio station.  It’s about realizing that as a Death Care professional you need to take care of yourself. . . . .And, one possible way to do that is have some interests outside of the funeral business.

I don’t really think it is important what that interest is — whether it be your church, your community, a business interest, a recreation interest such as golfing —  or a myriad of other things.

And, I think it is more important today than it ever was.  I believe that, even though we don’t have landline phones that must be watched 24/7 anymore, today’s funeral professionals may be more “tied down” than ever.  Cell phones and the internet make funeral professionals more available to families than they ever have been before. . . . . . .Sometimes, for your mental health, you just need solitude from work where you cannot be interupted.

I also think one can come full-circle in this situation.  I live a pretty good life of doing what I want to do now as a retired person. . . . . And, it is now my responsibility to the work of Funeral Director Daily that gives me a “balance” of work with my retirement.  As a person who has worked and held responsibility my entire life, that responsibility balances an otherwise leisure retirement lifestyle. . . . I look at “the balance” it brings as a blessing.

Related Article —  Here’s an article that you might enjoy I found from a publication called VeryWell Mind.  It is titled, “Why are hobbies important for stress relief?”

Related Article — Caring for your Mental Health.  National Institute of Mental Health.

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

We’ve now moved a few days into the month of December.  It’s hard to believe that the plans you put into place for the 2025 Business Year are now coming into the stretch run.  Hopefully, your profit numbers are exceeding what you expected them to be with, not only your wise planning, but your ability to shift and adapt some parameters as events, such as tariffs and continued inflation, came into play during the year.

What happened in 2025 with unexpected events happens to some extent every year.  And, while we don’t know what those unexpected events might be, the more you know what is happening in the world around you, the better you should be to make mid-year manuevers in your planning.

To that end, today’s edition brings you two publications that contain information that we believe could influence your business plans for 2026.

1. Business Conditions and the Federal Reserve Board rate decision coming on December 10 —

The United States Federal Reserve Board will hold its last meeting of the calendar year next week and will have the responsibility of setting the rate for what is called the “Feds Fund Rate” which is the interest rate base that virtually all other consumer and business interest rates are set off of.  Where they set that rate at will make a difference in your adjustable rate bank loans, on what you might pay on credit card interest, and will make a difference on automobile loans and many mortgage loan types.  Clientele of Death Care establishments may have more or less to spend depending on how their individual loans are affected.

And, specific to funeral homes, the rate may make a difference on how much interest is credited to preneed funeral accounts going forward, depending on which insurance company holds your preneed policies.

This recent article from Yahoo Finance will give you some insights on what business conditions the Federal Reserve Board members will be looking at when setting that rate.  Here are a couple of quick statements from that article that may affect business going forward in 2026:

• “The combination of weaker consumption and a sagging job market could boost the odds of a December rate cut”.

• “As layoffs have ticked up, employers are implementing hiring freezes, replacing only people who leave, and adjusting workers’ hours, according to the report. A few firms noted that artificial intelligence replaced entry-level positions or made existing workers productive enough to curb new hiring.”

• “Rising health insurance premiums are also increasing labor costs for employers.”

• “Looking at inflation, tariffs increased costs for retailers and manufacturers. . . . There were multiple reports of profit margins being squeezed or firms facing financial strain from tariffs. Meanwhile, prices declined for certain materials, which firms chalked up to sluggish demand, deferred tariff implementation, or reduced tariff rates.”

• “Looking ahead, businesses expect cost increases to continue, but plans to raise prices in the near term were mixed.”

Related Article —  Consumer Price Index ends Fiscal Year 2025 at 3.01%.  Social Security announces 2.8% Cost of Living Adjustment (COLA).  United States Congress Joint Economic Committee

2. Thoughts on the Funeral Services Industry from Global Growth Insights–

I found a very interesting dossier on the worldwide funeral industry in a form that appears to be a teaser for purchasing a larger report on the industry from a worldwide perspective in a document entitled “Global Growth Insights“.  And while I cannot vouch for the company, most of the information that I read on the “teaser” seemed to appear correct.  You can access the document here.

Here’s some of the highlights I found from the Global Growth Insights material that co-incides with some of the trends I have noticed and written about with Funeral Director Daily:

Growth of the Industry — “Several structural and demographic factors underpin this growth. Rising global mortality rates, driven by an aging population, have been a major catalyst. By 2030, nearly one in six people worldwide will be aged 60 years or older, contributing significantly to the increasing demand for funeral and pre-need planning services. Additionally, the growing acceptance of cremation — accounting for over 57% of global funerals in 2025 — has encouraged companies to innovate in low-emission cremation technology and biodegradable urn production.”

Technology —  “Another notable transformation is the integration of technology. Over 40% of funeral homes globally now offer digital pre-arrangement, online obituaries, and live-streamed memorials. These services enhance convenience and accessibility, especially for families separated by geography.”

Sustainability —  “(S)ustainability has emerged as a defining trend. The increasing adoption of eco-friendly burials, green cemeteries, and bio-cremation services underscores the industry’s shift toward environmentally conscious practices. The “green funeral” segment alone is projected to grow at over 8% CAGR (Compounded Annual Growth Rate) through 2030, reflecting changing consumer values.”

Premium Memorialization —  “The high-end and specialty funeral homes and services segment caters to a premium clientele that seeks exclusivity, personalization, and luxury in memorial arrangements. This niche but rapidly expanding category combines emotional value, heritage preservation, and sophisticated service design. In 2025, the luxury funeral segment accounts for nearly 7.5% of the total global funeral services market, valued at approximately USD 5.9 billion, and is expected to grow at a CAGR of 6.8% during 2025–2033 — outpacing the broader market’s average growth of 3.39%.  High-end providers focus on creating unique, culturally tailored, and experience-driven memorials. These include private mausoleums, personalized life celebration ceremonies, high-end floral artistry, premium casket materials, and digital heritage archives.”

Here is one other statement pertaining to the United States funeral industry that I found interesting, “The United States represents the largest and most mature segment of the global funeral homes and funeral services industry, accounting for approximately 36% of total global market share in 2025. The market continues to demonstrate steady growth, supported by an aging population, increasing pre-need funeral arrangements, and a rising preference for personalized, eco-friendly, and technology-enabled services.”

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

Simply as a member of a community I was again reminded this past week that transformation, and especially technology transformation, continues to happen at a rapid pace in the Death Care profession.  Last week I intended to go to a visitation of a deceased gentlemen who for the most part of my funeral director career volunteered as a caretaker of a small cemetery in our greater community.

The gentleman was a very nice person, humble as can be, and everytime I would see him in the community he was always friendly and would inquire as to the well-being and interests of my children and wife.  Simpy put, I wanted to make sure that I went to his visitation to pay the respect to him that he deserved and wanted to share these comments with this wife and family.

Well, I woke up Sunday morning and by habit checked the obituaries of the funeral home I used to own.  I then realized that I missed the gentleman’s visitation and funeral.  It happens . . .  But the reality of that is I did not get to visit with the family in-person as I believed I should.

At that point in time I had to look at my “next best option” to communicate my condolences and thoughts to the family.  Luckily, as most funeral homes have now, my old funeral home allows “messages” to the family on the decedent’s obituary page.

That’s what I did . . . and appreciate that the funeral home had that type of simple technology available to me.  And, I’m glad that they had kept up on that technology so I had a “next best option” to communicate with the family.

Tom Anderson
Funeral Director Daily

More Realities —  It’s interesting because on Sunday at church I also saw the President of a local bank I will call ABC Bank.  ABC Bank was sold to XYZ Bank last summer and the transformation of accounts was completed in the last couple of weeks.  ABC Bank was my mom’s historical bank and I’ve been a client there since 1974 when as a 16-year old my mom brought me there to open a checking account  — so that’s a client relationship of over 50 years.

ABC Bank was not my business bank and is not my main bank today, but I have retained that personal checking account to pay monthly bills and have automatic withdrawals taken from it.  In that regard, it has been a foundation of my personal financial bill-paying system my entire adult life.   When I think of my ties to that bank — automatic withdrawals to savings accounts built my retirement and paid for my children’s college education from it.  There’s a lot of history and sentiment that I have with that bank.

However, when I saw the bank president at church my thought process was that he will soon be the president of the bank where I “used to” have a checking account.

You see here is what happened just this month. . . . I use an “external” bank transfer from my main bank to ABC Bank once per month to pay those bills and have money in the account for automatic withdrawals.  It was done overnight — i.e. I initiated the transfer on Wednesday and the money was in the account ready to pay bills on Thursday.

Well, once set up with the new XYZ Bank system I initiated the “external” transfer on a Wednesday and the money shows it is out of my regular bank account that night.  However, XYZ Bank does not acknowledge the receipt of that transfer for five days  —  making my money unavailable for five days.

That is maybe not the biggest issue in the world to worry about. . .so the money gets there 5 days later.  One answer is to initiate the transfer five days earlier and everything is fine.  Or, another thing to do is to go online and tell my automatic withdrawal accounts to take that money every month out of my main bank account instead of XYZ Bank and then simply close the XYZ Bank account.

The point is, either through a policy decision or the lack of technology to process “external” bank transfers in what I consider a timely fashion, XYZ Bank is now going to lose a customer that they have had for over 50 years.

Why that should matter to you —  Transformation, especially among technology is happening extremely fast in the Death Care world.  It’s almost so fast that there is a “dizzying” effect on all of it.  I was happy that I was able to send a condolence to a family whose visitation and funeral I missed  —  and, quite frankly, I expected to be able to do that from the funeral home website.

However, in just the last couple of months I’ve received information on technology improvements such as preneed prompts from online funerals, obituary writers for families from funeral home websites, and the ability to offer recorded services online with no fear of music license offenses.

My guess is that your families expect all of that and more.  From your website can a consumer:

• Get a mobile phone calendar reminder about attending a funeral or visitation so you don’t miss one like I did?
• Check their preneed balance?
• Pay a bill?
• Plan their services including knowing the price?
• Buy a preneed plan?

We live in a day of a new consumer mindset.  I believe that if a consumer can’t find the information that they want on your website or if your reaction time is slow or late, you will risk losing that consumer forever.

It’s happening all the time. . . .Saturday night of last week I was on my own for dinner as my wife was gone.  It was a great day watching college football and college basketball for me.  I decided to order a pizza to be picked up and brought home.  I have three choices within two miles of my home — Caseys, Dominos, and Pizza Hut.  What was my deciding feature for which one I purchased Saturday night? . . . . . It was the amount of time from order to ready for pickup — not price, not flavor, but reaction time.  And, if a pizza restaurant didn’t list that on their website I just disregarded them.  Technology is transforming pizza sales, too!!!

Final Thoughts — Transformation is happening. . . and, it is happening everywhere.  The consumer mindset is different and that consumer really wants answers when they search.  And convenience really matters — it is almost hard for me to believe that I will admit to ordering my evening meal almost simply on convenience.

This past week, WalMart and Target reported 3Q2025 results.  They were strikingly different — Target’s sales declined 1.6% and WalMart’s sales increased 5.8%. . . .There might be some argument about “what type” of customers shop at each store and how the growing “K-Economy” has affected those customers.

However, WalMart CEO John David Rainey thinks it is more than just that.  Remember ten years ago when you could first make a WalMart grocery order online and have it delivered the next day? . . . .Here’s what Rainey said about that, “Walmart — by way of 4,700-plus US stores — is regularly delivering orders to people’s houses in less than 30 minutes. . . . Walmart has leveraged its mighty financial position to invest aggressively in its supply chain, allowing it to be a more trusted destination for shoppers than Target.”

My suggestion. . . . Make the investments necessary to turn that “new consumer” into your client.  And, you need somebody in your trusted corner who understands the technology as well as someone who relies on that technology to be fair, but critical and honest, in their reviews of what you are offering your community.

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

Alex Fasciano, an analyst for CFRA Research suggests that quick service restaurant player KFC’s (formerly Kentucky Fried Chicken) strategy is “. .centered on driving growth through brand relevance, marketing innovation, (and) operational excellence. . . .”

It turns out that the iconic brand was losing customer count and sales to other competitors in the market.  But the new innovations that they have put in, including a new store concept, has begun increasing sales.  As I read this article from the New York Post titled, “From slump to sizzle: KFC’s recipe for a comeback” it made me think of traditional funeral homes that have lost some market share to the cremation providers.

You see, I look at traditional funeral homes as once having all of the “relevance” in terms of consumer choices for Death Care.  Back in the 1970’s, 1980, and 1990’s traditional funerals were still well over 50% of the choice of consumers and the relevance of that full-service traditional funeral home as the business that included, embalming, caskets, visitation rooms, and more was what consumers were looking for.

Eventually, the number of consumers that preferred cremation started to, and continued to rise to numbers that now reach a 60% preference point and recent surveys by the National Funeral Directors Association (NFDA) tell us that number could rise to a 83% preference rate within a decade or two.

The question would then be. . . .What type of “relevance” does the traditional funeral home hold for the consumers that choose cremation or direct cremation with no services?  A consumer might look at a traditional funeral home as having a lot of extra overhead for what that consumer is choosing. . . . And, a beautiful traditional funeral facility can be an asset that draws in clientele, even cremation clientele, but it can also represent to some consumers an additional overhead perception that they might not be willing to pay.

It’s interesting because that is somewhat the KFC story in the last couple of decades.  Once the staple for family meals with the red and white buckets full of fried chicken for the entire family, the chain started losing its relevance to a consumer that no longer dined with the entire family or wanted to eat full-bone fried chicken.

As a matter of fact, this article from The Street made the comment that “KFC had fallen into fifth place in terms of consumer spending, trailing behind competitors such as Popeyes, Chick-fil-A, Raising Cane’s, and Wingstop.”  In essence, the traditional KFC fell out of “relevance” with the chicken consumer.

That loss in spending at KFC was brought on in part by KFC trying to “be the same they always had been” selling family style meals and buffets while consumers started to show an affinity for chicken sandwiches that you might find at Chick-fil-A or chicken wings that you might find at any number of restaurants.

KFC finally became very bold and launched a new style of chicken restuarant, Saucy. Saucy, according to one article, “(is) trying to rejuvenate KFC by leaning into its own version of the chicken sandwich, an item that’s stoked intense rivalries among major chains, and other new innovations such as spicy wings and potato wedges, which have proven popular among new customers.” 

The effort started late in 2024 and now the Saucy locations, which are only about half the size of a typical KFC are “selling about twice as much as a typical KFC store, or roughly $2.6 million in annual sales.”  It’s been so successful that KFC is intent on fast-tracking more locations.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  So, what’s the moral of this story and its relationship to traditional funeral homes?

From my point of view, it’s all about staying “relevant” with the consumer and their needs and wishes.  Traditional funeral homes will serve about 15% of the population that want casketed burials come 15 years from now.  Yes, they can still serve cremation families — but might there be a better way to serve those cremation families and keep them in your business fold rather than have them go to an online cremation provider?

Maybe a smaller facility built exclusively for the cremation consumer might be a thought.  I’m guessing it was pretty difficult for KFC to open stores where they don’t sell the product that built the company — fried chicken.  But, it appears that coming back to “relevance” with what the consumer wants is going to pay dividends for them in the future.

Maybe the same thing could happen in Death Care.

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

Security National Financial Corporation, the Utah-based public company with parts of its operation in the Death Care segment, reported their 3rd Quarter 2025 financials last week.

When the President of the company, in this case Scott M. Quist, starts the report in the following fashion you know that as you continue reading the report it won’t all be roses.  Quist started his report with this statement, “While the third quarter was definitely weak from my point of view. . . .  there are some definite bright spots which partially illuminate much of the hard work that has gone on.”

Quist’s commentary and the report can be accessed here.   He did go on to report that the company reported 3rd Quarter 2025 revenues from all three divisions of $89.3 million which is a 1.2% increase from the same quarter of 2024.  However, those revenues led to Earnings Before Taxes of only $10.1 million in comparison to last years comparative quarter of $15.2 million — a drop of 33%.

However, Quist’s commentary also makes this statement, “Our Cemetery and Mortuary Segment also posted improved results over Q3 2024. We are just now seeing stabilized, if not improved, preneed cemetery land sales which are a major profit driver. It is a fair statement that over the last 9 months we have completely revamped our cemetery sales force.”

For the quarter, SNFC’s Cemetery/Mortuary segment posted $8.9 million in sales as compared to 3Q2024’s number of $8.5 million — an increase of 4.5%.  And, there Earnings Before Taxes jumped 7.2% for the quarter to $3.04 million as compared to 3Q2024’s $2.84 million.

For the 9-months ended September 30, 2025, however, the Cemetery/Mortuary segment has posted revenue of $25.1 million which lags last year’s number by 1.6% and the 9-month Earnings Before Taxes has dropped 11.4% to 2025’s number of $7.07 million as compared to the 2024 9-month Earnings of $7.98 million.

Security National Financial Corporation operates businesses in the Life Insurance, Death Care, and Mortgage segments.  The holdings in Death care include funeral homes, cemeteries, a preneed company, and financial assignments.

Disclaimer —  The author of this article for Funeral Director Daily is a SNFC stockholder.

Funeral Director Daily take:  The report on SNFC is short and concise and not much is said about the Cemetery/Mortuary segment.  However, two things I noticed happened to be “on trend” with what I see happening in the greater Death Care business world.

Those two things are that 1) Cemeteries seem to be having a renaissance as more and more people are serious about what I term “Memorialization” of their remains and 2) that earnings to the bottom line in Death Care seem to be less on the same or more revenue — which I think is simply indicative that inflation and higher costs have grown faster than Death Care has been able to raise revenue.

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

There’s a little of everything in Funeral Director Daily’s list of “Top Read” articles of the past 30 days.  There is information on caskets, services, memorialization, value of businesses, and even some thoughts on what Death Care personnel do that the general public just doesn’t understand. . . .

And, we will throw a little history and nostalgia in the mix too.  The top read story of the past 30 days brings a little nostalgia as it has to do with a company that is not even involved in the Death Care business anymore but has its founding principles embedded in the casket business — Hillenbrand Industries, former parent company of Batesville (Casket).

Here’s the Top Read Funeral Director Daily articles from October 16 to November 15:

1. Hillenbrand Industries sold
2. Are we in the midst of a paradigm shift, from “Services selection” to “Memorialization selection”, by the consumer?
3. Casket companies make some news. . . .and what is the future demand?
4. Small volume firms need to know their potential value
5. Most people just don’t understand. . . . . 

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

The Wall Street Journal in this recent article (you may find a paywall here) estimates that over the past 5 years Americans have gained a total of $63 trillion in personal wealth.  And, this article from Yahoo Finance states “. . . the top 20% — the high-earning American households — are thriving because they have seen immense gains in their stock portfolios and home values in recent years.”

Two results of that personal wealth gain are that Americans are consuming at record levels and these same Americans are continuing to look for more investment opportunities.  Part of those investments are going into public stocks and bonds, but I’m guessing that more and more investors, with asset qualifications, are putting money into private equity in growing sums as well.  As you can see from the chart below, as good as the public markets have been for asset growth, private equity returns have left them in the dust.

Private Equity returns vs. other returns.

All that money and all of those potential deals leads me to seeing a sign of caution.  I’ve always tried to do everything on a level keel.  Too much of one thing has never been good for me — as much as I like to golf, three days in a week is enough.  Same with a vacation — it’s fun and relaxing, but I always want to get back to work.

Tom Anderson
Funeral Director Daily

So, that brings me to my thought process —  with all the money being thrown at businesses, including funeral homes, by private equity, when will the good deals end and somebody in their quest for “growth” make the wrong decision?  I don’t know when it will happen and who it will happen to, but at some point the quest for “growth” will lead to bad decisions by somebody.

It just happened in Minnesota with a home remodeling company known as Minnesota Rusco.  You can read an article from the Minnesota Tribune here that lets the reader know that Minnesota Rusco, a Minnesota staple since 1955, was acquired by a private equity firm that was “rolling-up” home remodeling firms across the country and now is looking into bankruptcy.  Somebody either didn’t know the business that well or know the value of the “local-aspect” of these acquired businesses and it looks like the investment will be lost . . . . and the employees of Minnesota Rusco will probably be on the unemployment line.

I recently came across this article titled “There’s a lot of money in Death”:  Funeral consolidation hits Western Mass”.  The article goes on to illustrate that even in some smaller funeral homes and roll-ups involving them, that private equity is involved.  Here’s the website of a private equity firm which lists Milestone Funeral Partners as one of their investments.

It’s no secret that a large number of family funeral homes will be on the market in the next few years.  And, many of them will have the volume and be in a location that will be highly desireable for the national and regional companies to compete for.  If you are one of these owners planning to sell, make sure you know your business value and make sure that you know your buyer.

Because . . . .  I don’t think the good times will last forever and someone will get hurt when the dominoes fall.

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

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”

The election of Democrat Socialist Zohran Mamdani as Mayor of the city that many refer to as the “World’s Financial Center” has brought about questions on what might change.  Most of those questions deal with financial issues such as taxes and benefits.

From the perspective of Death Care and funerals my thought process goes to what would a world of increased public benefits for individuals mean to the Death Care business world?  When one looks around the world, in almost all instances the responsibility for paying for the Death Care services of loved ones falls on the individual and family and not on the public sector.

However, in almost all of those same countries, including the United States, those individuals or families without the financial means to pay these expenses can apply for public benefits to help them do so.  And, virtually every municipality or state has some type of reasonable benefit to help.

One country that is very interesting, and probably goes against the grain on this situation is Sweden.  In Sweden, according to this article, every one registered and paying taxes pays a mandatory burial fee each year through their taxes.  Upon death, they are then entitled to state paid expenses for the following:

• A burial plot for 25 years
• Burial and/or cremation
• Certain transports of the coffin
• Premises for safekeeping and viewing of remains
• Premises for a funeral ceremony with no religious symbols

According to the same article, here are the expenses that a family may also choose but are not covered by this benefit:

• Coffin and dressing the deceased person
• Decorations and flowers
• Obituary notices
• Transportation of the coffin to the viewing room (premises for safekeeping and viewing)
• Funeral ceremony
• Pallbearers
• Memorial service
• Headstone
• Grave maintenance

Other Municipality Public Services in Death Care —  Historically in the United States there is acknowledged acceptance of city non-profit cemeteries that dates back centuries.  Public grounds were granted, for the public good, for the use of cemetery burials in communities.  Most of these cemeteries have been and continue to be non-profit or break-even enterprises for the municipality and were proffered as a service to citizens of the community.  In this regard, these cemeteries did not compete with funeral homes as they were established in communities and actually allowed funeral homes to further their own profit-driven enterprises by allowing burial vaults to be sold by the funeral homes and delivered to these cemeteries.

Similarly, crematories in the United Kingdom have been operated by municipalities for the benefit of their citizens over the years.  Funeral providers in Great Britain provided Death Care services to families and then brought the remains to a public crematory for a service and cremation.  Much like non-profit cemeteries in the United States, these crematories proffered their services for the public good and did not compete with funeral homes for the professional services to families. . . . .allowing the profit-driven funeral homes the ability to offer merchandise such as coffins to these consumers.

Will that change and will municipalities become competitors??  —  Just this week from an article I learned that in Great Britain “Lewisham Council has launched new affordable and dignified options for residents arranging funerals or cremations for their loved ones, helping to ease financial pressures during the ongoing cost of living crisis”.

Up until now, it appears that Lewisham has offered a crematory service to area funeral providers as mentioned above.  However, it now appears that the council will be offering “full service” cremations direct-to-the-consumer in an effort to save their residents money over what they seem to deem as too high of prices by private funeral directors.  Here’s the announcement from the Lewisham Council announcing this service.  Part of what is listed on that page is this announcement:

With the average cost of a full cremation service via a funeral director now approaching £4,000 (US$ 5,245), many families are finding traditional funeral costs increasingly difficult to manage. In response, Lewisham Council is offering a Simple Cremation Package at a fixed fee of £1,507 (US$ 1,974), providing a respectful, straightforward, and low-cost alternative.

The Simple Cremation Package includes the collection and care of the deceased, completion of statutory medical paperwork, the cremation itself, and the provision of an environmentally friendly coffin suitable for cremation. The package provides all the essential elements for a dignified farewell without the additional costs often associated with traditional services.

While the package does not include the use of the cremation chapel for a formal service, families who wish to hold a memorial event can add use of the chapel from just £147 (US$ 192).

Related — To learn more about the United States Social Security Lump Sum Death Benefit history click here.

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  Much like the idea of grocery stores being operated by municipalities I think the idea of full-service funeral and cremation providers being offered by municipalities is just as bad an idea.  I’m a “free enterprise” person and have had an experience in operating in a “public sector” enterprise as a board member of a major land-grant university (University of Minnesota).  While there may be a place and public-purpose for “public enterprise’ where a private source cannot operate, I don’t think funeral homes and crematories fit into that caegory of necessity.

Even university education enterprises can be done less expensively in a private setting — although the idea of public education is an American ideal and there is a necessity for public research universities.  However, in my world, free enterprise and the quest for a system that can build profits for the risk takers will almost always bring on efficiencies that reduces costs for all.

It will be interesting to see what happens in Lewisham and if the discounted services prove to be a savings for municipality residents or, over time, will the Lewisham Council have to raise their prices or operate their services to their citizens at a loss —  funded by community tax revenues and bringing on a “growth in government”.

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