White Smoke Rises From Funeral Home | FFFW 236

Hey y’all! I hope your has been amazing. For some of you, it probably has been, for others it may have been devastating, and for most of you, it was probably mid. Regardless, I’m glad you’re here right now, and we’ll end this week with a bang!

“The announcement that Facebook will delete live streams older than 30 days reveals a critical disconnect between platform policies and the reality of grief. Grief doesn’t follow a 30-day timeline. Our data shows 30% of funeral viewings happen after that 30-day window. For an average funeral home, that’s over 2,500 families annually who will seek comfort in a service recording only to find it gone. This should serve as a wake-up call for funeral professionals to invest in solutions where they maintain ownership and control of their content, rather than entrusting these precious memories to platforms with competing priorities.” – Shane White, CTO of MemoryShare

MemoryShare is here to help.

Funeral homes affected by these changes can schedule a call with MemoryShare to receive 3 months of unlimited streaming and recording. Their team will handle all training, transfer your existing videos, and provide a complimentary 20-minute training session for your staff. MemoryShare is committed to funeral homes and ensuring a smooth transition with zero disruption for the families you serve.

Call 469-983-4832 to learn more and meet with a MemoryShare professional who will guide you through the process. Mention Disrupt/Connecting Directors to claim a bonus gift!

“Crematory Smoke Causes Confusion—Community Mistakes Routine Cremation for Historic Announcement”

SPRINGFIELD, MO — A routine cremation turned into minor hysteria this week when a puff of white smoke billowed from Heritage Hills Funeral Home, prompting several bystanders to assume something… papal was happening.

“I saw the smoke and thought, ‘Well, we finally have a new Pope of Springfield,’” said Carl Jenkins, who had been waiting for his DoorDash order next door.

The smoke, of course, came from the funeral home’s retort, where technicians confirmed that nothing spiritual was occurring—unless you count efficient cremation scheduling.

“It was Mrs. Tillman,” said crematory manager Tara Reece. “She specifically requested early morning—she liked to get things done before lunch.”To avoid future mix-ups, the staff is now considering installing a blinking LED sign that reads:
“Not a conclave. Just cremation.”

Trivia

Choose the correct answer and you’ll see a puppy. Get it wrong and you’ll see someone hurting themselves.

Which comic book editor had his ashes mixed into the ink used to print a trade paperback edition of his work?

Answer Choices:
A. Stan Lee
B. Mark Gruenwald
C. Jack Kirby

You Otter Be Proud

Here’s some good news going on in the profession.

1.  Unique Program Recycles Pacemakers Retrieved from the Deceased
2. People Magazine Covers Funeral Profession Story
3. Fifth-generation funeral director Jeff Monreal helps families grieve, celebrate loved ones

Matthews International, which provides memorialization products and cremation solutions among its multi-faceted business segments announced their Fiscal 4th Quarter and Fiscal Year End results last Thursday.  Matthews operates on a fiscal year that ends on September 30 of each year.

While the company had some positive attributes for the quarter such as reducing company debt by $53.8 million, Sales and Adjusted EBITDA for the company both declined for the quarter and the year end in comparison to last year for the same time periods.  As a company, 4th Quarter 2024 Revenues totaled about $446.6 million for the quarter as compared to $480.1 million for 4Q23 — that’s a decrease of about 7%.  For the Fiscal Year ending September 30, 2024, Total Revenues totaled $1.79 billion as compared to FY2023’s number of $1.88 billion — that’s a yearly decrease in sales of about 4.8%.

Total Adjusted EBITDA for the company dropped to $205.1 million for the year compared to 2023’s Fiscal Year total of $225.8 million — a drop of about 9.2% on the year.

Matthews operates in three segments — one of which is the Memorialization Segment which includes cemetery products, caskets, and cremation products.  That segment is the largest, by sales of the three segments and accounted for about 46% of company sales.  It did, however, see a reduction in annual sales from $842 million in FY23 to $829 million in FY24 — a drop of about 1.6%.  The segment’s Adjusted EBITDA almost kept up with last years and can be basically called “flat” for the year — it actually dropped by less than 1%. . . from $163.9 million to $162.5 million.

Here’s what Matthews International President and CEO Joseph C. Bartolacci said in prepared statements in the press release about the Memorialization Segment, “The Memorialization segment reported higher adjusted EBITDA for the current quarter despite lower unit volumes, which were related to a decline in U.S. deaths compared to a year ago. Ongoing cost control efforts combined with improved price realization were the key drivers in the improvement in operating margins. . . . .We expect another solid performance for our Memorialization business in fiscal 2025 as U.S. deaths appear to have generally normalized following COVID and we are projecting continued growth in our cremation-related products sales.” 

You can access the Matthews International November 21, 2024, press release here.

Stock Price Rises:  Interestingly enough, on the news of lower quarterly and annual sales and profits, Matthews International stock price jumped almost 21% on Friday after Thursday’s market closed press release.  Matthews International stock closed at $30.84 per share after opening that day at $25.49.

It’s difficult for one to read into why the value went up over 20% in one day, but the company’s earnings press release did show the SGK Brand Solution Segment gaining sales and the situation of retiring over $53 million of debt.

It could also have to do with the Industrial Technologies Segment of the company and opportunities there.   Here’s an interesting statement that President/CEO Bartolacci included in the earnings press release, “Lastly, as growth opportunities for the Industrial Technologies segment continue to emerge, the Company has been exploring strategies with respect to its portfolio of businesses.   Accordingly, we have retained J.P. Morgan to support the evaluation of potential strategic alternatives.”

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  This is total speculation on my part but, it’s interesting for me to see the stock price jump to over $30 per share on Friday after not closing at that level since March 2024.  I think the terms “potential strategic alternatives” lead to speculation by many that there could be acquistions on the horizon by Matthews or there could be a divestiture of one of the Matthews segments to come.  Again, from my point of view there is plenty of money in the private equity circles looking to invest.

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