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PARK LAWN CORP ORD - PRRWF STOCK NEWS

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Park Lawn Corporation (TSX:PLC, PLC.U) is the largest publicly traded Canadian-owned funeral, cremation, and cemetery provider. With operations in three Canadian provinces and seventeen U.S. states, Park Lawn offers a full range of services and merchandise to honor loved ones, whether through pre-need planning or at-need services. The company's recent financial reports indicate strong performance and strategic growth plans, positioning Park Lawn for continued success in the funeral and cemetery industry.

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Park Lawn Corporation (PRRWF) reported its Q3 2022 results, achieving a 10.7% increase in net revenue to $80.87 million. However, net earnings fell 25.9% to $5.32 million, attributed to reduced revenue from Comparable Operations and rising costs. The adjusted EBITDA decreased by 2.7% to $18.16 million, with margins declining. Despite these challenges, the company demonstrated operational strength, particularly in pre-need property sales. Acquisition efforts remain strong, aiming for $75-$125 million in acquisitions for 2022 and 2023.

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Park Lawn Corporation will release its Q3 2022 financial results on November 9, 2022, and host a conference call the next day at 9:30 a.m. EST for discussion. The call can be accessed via the toll-free number (877) 545-0320 with Conference ID 624678. Park Lawn provides essential services related to the disposition and memorialization of human remains. It operates across three Canadian provinces and seventeen U.S. states, offering pre-need and at-need services including cemeteries and funeral homes.

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Park Lawn Corporation has announced a definitive agreement to acquire the assets of Muehlebach Funeral Care, enhancing its presence in the Kansas City market. This acquisition includes three standalone funeral homes and is projected to close in November 2022, pending regulatory approval. The deal is expected to add approximately US$616,000 in Adjusted EBITDA annually and includes 627 annual calls. The transaction aligns with Park Lawn's financial targets and strategy for operational synergies in the area.

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Park Lawn Corporation is expanding its operations in Colorado by acquiring three funeral service providers: Ertel Funeral Home, Taylor Funeral Home, and Brown's Cremation & Funeral Service. The acquisitions will add five stand-alone funeral homes, contributing approximately US$1.62 million in Adjusted EBITDA annually. The transactions are expected to close in early November 2022, pending regulatory approval, and reflect Park Lawn's commitment to serving the Western Slope communities.

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Park Lawn Corporation announces a quarterly dividend of $0.114 per share, payable on October 17, 2022, for shareholders on record as of September 30, 2022. The company offers a Dividend Reinvestment Plan (DRIP), allowing eligible shareholders to reinvest dividends into additional common shares at a 3% discount from the volume-weighted trading price preceding the payment date. The DRIP enrollment must be completed by 3:00 pm EDT on the fifth business day before the record date. Full details are available on PLC's website.

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Park Lawn Corporation has finalized the acquisition of Shackelford Corporation, which includes eight funeral homes and two cemeteries in the Savannah, Tennessee area. This strategic move enhances Park Lawn’s presence in western Tennessee and strengthens its position in the southeastern U.S. market. Both parties emphasize a commitment to maintaining Shackelford's legacy of excellence and integrity. The acquisition is projected to offer operational synergies and growth potential, aligning with Park Lawn's objectives for expansion.

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Park Lawn Corporation announced approval for a normal course issuer bid (NCIB) by the Toronto Stock Exchange. This NCIB allows the repurchase of up to 3,385,439 common shares, approximately 10% of the public float, over a period from August 17, 2022, to August 16, 2023. The decision arises from the belief that the current market price may make such purchases an attractive use of corporate funds. An automatic securities purchase plan (ASPP) has been established to facilitate compliant share buybacks during restricted periods.

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Park Lawn Corporation reported Q2 2022 results with net revenue of $75.9 million, a 5.4% increase year-over-year. Net earnings of $5.8 million remained flat, while adjusted net earnings dropped 24.6% to $6.6 million. Adjusted EBITDA decreased 15.8% to $15.6 million, with a margin of 20.6%, down 520bps from the previous year. The company experienced a decline in cemetery sales due to a national decrease in the death rate. Notable acquisitions during the quarter were made in Mississippi and North Carolina. New directors were appointed to enhance board diversity and qualifications.

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Park Lawn Corporation has announced its agreement to acquire assets from Shackelford Corporation, enhancing its presence in western Tennessee with eight funeral homes and two cemeteries, expected to close in September 2022. This acquisition is projected to generate an additional US$3,400,000 in Adjusted EBITDA annually. Furthermore, Park Lawn has opened a new Westminster Funeral Centre in Toronto, aligning with its organic growth strategy. For the year ending December 31, 2021, Park Lawn reported Adjusted EBITDA of US$76,284,577.

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Park Lawn Corporation (TSX:PLC) has announced its second quarter financial results release scheduled for August 11, 2022. A conference call to discuss these results will take place on August 12, 2022, at 9:30 a.m. EST. Participants are encouraged to join five minutes early. Park Lawn provides a range of services related to the disposition and memorialization of human remains, operating across three Canadian provinces and sixteen U.S. states.

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FAQ

What is the current stock price of PARK LAWN ORD (PRRWF)?

The current stock price of PARK LAWN ORD (PRRWF) is $19.22 as of August 8, 2024.

What is the market cap of PARK LAWN ORD (PRRWF)?

The market cap of PARK LAWN ORD (PRRWF) is approximately 658.7M.

What is Park Lawn Corporation known for?

Park Lawn Corporation is known for being the largest publicly traded Canadian-owned funeral, cremation, and cemetery provider with operations in multiple Canadian provinces and U.S. states.

What type of services does Park Lawn Corporation offer?

Park Lawn Corporation offers a full range of services and merchandise for individuals and families to honor their loved ones through pre-need and at-need planning.

Where does Park Lawn Corporation operate?

Park Lawn Corporation operates in three Canadian provinces and seventeen U.S. states.

What recent achievements has Park Lawn Corporation made?

Recent financial reports indicate strong performance and strategic growth plans, positioning Park Lawn for continued success in the funeral and cemetery industry.

How can shareholders participate in Park Lawn Corporation's growth?

Shareholders can stay updated with the latest news and developments from Park Lawn Corporation to understand the company's performance and growth strategies.

PARK LAWN CORP ORD

OTC:PRRWF

PRRWF Rankings

PRRWF Stock Data

658.67M
33.80M
1.03%
25.48%
Personal Services
Consumer Cyclical
Link
United States of America
Toronto