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Park Lawn Corp T.PLC.DB


Primary Symbol: T.PLC Alternate Symbol(s):  PRRWF

Park Lawn Corporation is engaged in providing goods and services associated with the disposition and memorialization of human remains. The Company and its subsidiaries own and operate businesses, including cemeteries, crematoria, funeral homes, chapels, planning offices and a transfer service. Its primary products and services are cemetery lots, crypts, niches, monuments, caskets, urns and other merchandise, funeral services, after-life celebration services and cremation services. Its products and services are sold on a pre-planned basis or at the time of death. It has one stand-alone funeral home located in Durham, North Carolina; one stand-alone funeral home and one on-site funeral home and cemetery located in Abingdon, Virginia; eight stand-alone funeral homes, two stand-alone cemeteries and one on-site funeral home and cemetery located in and around the Savannah, Tennessee area; three stand-alone funeral homes located in Brampton, Woodbridge and Toronto, Ontario and more.


TSX:PLC - Post by User

Post by retiredcfon Nov 14, 2023 8:41am
317 Views
Post# 35733872

Stockchase Insights

Stockchase Insights
HOLD
Park Lawn Corp(PLC-T)
13/11/2023
 
Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
EPS of $0.3256 beat estimates of $0.3065 and revenues of $117.38M beat estimates of $113.08M. Management is overall pleased with its results given the decrease in call volume due to a declining death rate. It continues to gain market share and sales grew by 8.2%, driven mostly by acquired operations. PLC plans on divesting certain legacy assets to Everstory Acquisition Portfolio, a transaction valued at $70M. This divestiture is expected to reduce PLC's leverage ratio and provide cash for deployment into high-growth markets. Its balance sheet slightly expanded for the quarter, and sales grew, but its margins declined due to increasing interest expenses and cost of sales. It has made some progress on its debt load, but its net debt/EBITDA ratio remains high at 3.9X. We feel it is a well-run business, and in a better market backdrop it will perform well. Its high debt load is certainly acting as a drag on its financial performance, and we feel a recovery is likely once interest rates peak or decline.
 
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$15.860
 
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