Park Lawn Corporation
Park Lawn Corporation is the largest publicly traded Canadian-owned provider of funeral, cremation, and cemetery services, operating in three Canadian provinces and seventeen U.S. states.
Company Overview
Park Lawn Corporation is the largest publicly traded Canadian-owned provider of funeral, cremation, and cemetery services. Headquartered in Canada, the company operates across three Canadian provinces and seventeen U.S. states. Since 2013, Park Lawn Corporation has grown from six cemetery properties in Toronto to a diverse portfolio of businesses spanning North America. The corporation's culture emphasizes community service and employee commitment.
Products and Services
Park Lawn Corporation offers cemeteries, crematoria, funeral homes, chapels, and event centers. Their services are designed to be customizable to meet the personal needs of consumers, whether on a pre-planned basis (pre-need) or at the time of death (at-need). This flexibility allows clients to plan and secure services according to their specific requirements and timing.
Sustainability Efforts
Park Lawn Corporation has implemented various sustainability initiatives. These include emissions air modeling of crematoriums, exploring carbon offset programs, and participating in a metals recycling program. These efforts aim to reduce the environmental impact of their operations and promote sustainable practices within the industry.
Financial Highlights
Park Lawn Corporation is publicly traded on the Toronto Stock Exchange under the symbol 'PLC'. For the three-month period ending March 31, 2024, the company's Adjusted EBITDA margin increased by 200 basis points to 25.7%, and its Adjusted Field EBITDA margin increased by 320 basis points, or 10%, to 35.4%. The quarterly dividend of $0.114 per share was payable on April 15, 2024, to shareholders of record as of March 29, 2024. The company also offers a Dividend Reinvestment Plan (DRIP) for eligible shareholders.
Recent Acquisitions
In February 2024, Park Lawn Corporation completed the acquisition of Crippin Funeral Home, Gunnison Funeral Services, and Grand View Cemetery in Colorado. These acquisitions expand the company’s presence and enhance their portfolio of services offered in the region.