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Batesville Casket and Funeral Products Manufacture during Covid
Posted on 9/16/21 at 12:47 pm
Posted on 9/16/21 at 12:47 pm
Another BTW - the largest manufacturer of caskets/funeral products in the U.S., is Batesville, owned by Hillenbrands.
On Page 2 of their 2020 Financial Report, Batesville is shown as having casket/funeral product revenue of:
$562 million in 2017, on deaths of 2,813,503 ( LINK)
$551 million in 2018, on deaths of 2,839,205
$533 million in 2019, on deaths of 2,854,838
This is an average of $549 million in revenue on an average of 2,835,849 deaths.
So from this, we can deduce that for every death in the USA, Batesville would have revenue of $193.60.
In 2020, there were "registered" deaths of 3,358,814. This is an increase of 522,965 more deaths that the three-year average.
One would assume then that Batesville earned $193.60 for each of those deaths, which would be an increase in revenue of $101 million.
Yet, Batesville only reported 2020 revenues of $553 million, an increase from the three year average of only $4 million.
So why did Batesville only add year-over-year growth of revenue of 0.73% when the number of deaths increased by 18.44% and they are the leading manufacturer of coffins in the US? That's a VERY high under-performance relative to the market conditions, IF the number of additional deaths is to be trusted.
I wonder if that question came out in their annual stockholder's meeting because if I were a Hillenbrand stockholder, I would have been asking this question?
On Page 2 of their 2020 Financial Report, Batesville is shown as having casket/funeral product revenue of:
$562 million in 2017, on deaths of 2,813,503 ( LINK)
$551 million in 2018, on deaths of 2,839,205
$533 million in 2019, on deaths of 2,854,838
This is an average of $549 million in revenue on an average of 2,835,849 deaths.
So from this, we can deduce that for every death in the USA, Batesville would have revenue of $193.60.
In 2020, there were "registered" deaths of 3,358,814. This is an increase of 522,965 more deaths that the three-year average.
One would assume then that Batesville earned $193.60 for each of those deaths, which would be an increase in revenue of $101 million.
Yet, Batesville only reported 2020 revenues of $553 million, an increase from the three year average of only $4 million.
So why did Batesville only add year-over-year growth of revenue of 0.73% when the number of deaths increased by 18.44% and they are the leading manufacturer of coffins in the US? That's a VERY high under-performance relative to the market conditions, IF the number of additional deaths is to be trusted.
I wonder if that question came out in their annual stockholder's meeting because if I were a Hillenbrand stockholder, I would have been asking this question?
14
Posted on 9/16/21 at 12:48 pm to HubbaBubba
If you ask the lefty idiots, they were storing bodies in trucks then sending them to crematoriums.
Posted on 9/16/21 at 12:50 pm to HubbaBubba
Hahaha.. I worked for Hillenbrand for 15 years. They even make money off cremations as cremation caskets have to be used. I cannot see how this could not be a telling statistic. Makes no sense. They certianly never lower prices or give them away. At least not in my 15 years.
Posted on 9/16/21 at 12:50 pm to teke184
That explains lumber prices? Lol
Posted on 9/16/21 at 12:51 pm to HubbaBubba
So what is the contention here? That there wasn't a 500K increase in the number of deaths? Serious question.
Posted on 9/16/21 at 12:52 pm to teke184
I would guess that Batesville Casket Company is also the #1 seller of Urns for ashes, in the U.S..
Posted on 9/16/21 at 12:52 pm to Aubie Spr96
I think the assertion may be that there was some double-counting involved.
Posted on 9/16/21 at 12:53 pm to Aubie Spr96
quote:
That there wasn't a 500K increase in the number of deaths?
We know that Covid dropped the deaths from other causes down dramatically.
This is unsurprising.
Posted on 9/16/21 at 12:55 pm to Aubie Spr96
quote:A. They either HIGHLY under-performed to the market conditions, or,
So what is the contention here? That there wasn't a 500K increase in the number of deaths? Serious question.
B. There was no change to the market conditions as they previously existed.
Posted on 9/16/21 at 12:57 pm to MintBerry Crunch
quote:No, no we don't know that. I'm pointing out that overall deaths rose over a half-million per the statistics, with Covid accounting for 345,000 of those.
We know that Covid dropped the deaths from other causes down dramatically.
This is unsurprising.
PER THE STATISTICS.
The Market says otherwise.
Posted on 9/16/21 at 12:58 pm to HubbaBubba
There was no change. Go look at flu deaths in 2020..and don't tell me it was because of masks. Idlf masks don't stop Covid they didn't stop flu. Period. Same tiny virus.
Stopping Covid or flu with a mask is like stopping mosquitos with a chain link fence.
Stopping Covid or flu with a mask is like stopping mosquitos with a chain link fence.
Posted on 9/16/21 at 1:01 pm to Tigahs24Seven
quote:I agree on the points you made.
There was no change. Go look at flu deaths in 2020..and don't tell me it was because of masks. Idlf masks don't stop Covid they didn't stop flu. Period. Same tiny virus.
Stopping Covid or flu with a mask is like stopping mosquitos with a chain link fence.
I'm pointing out that we have statisticians saying that we had over a half million more deaths than the average, but that this is not validated by the economic market.
As you stated, Hillenbrands NEVER drops their pricing. I can't imagine they'd just lower prices across the board when they had a gold mine sitting in front of them. Purportedly.
Posted on 9/16/21 at 1:07 pm to HubbaBubba
maybe they didn't report money from Uncle Sam that wasn't taxable because they were paid per covid death; like funeral homes have been reported to get $9000 per covid death if you apply? or someone is lying somewhere about the death totals?
Posted on 9/16/21 at 1:11 pm to HubbaBubba
Page 40 of your link:
quote:
Net revenue increased $709.7 (39%), which included unfavorable foreign currency impact (0.3%).
• Advanced Process Solutions’ net revenue decreased $45.8 (4%) primarily due to a decline in demand for screening and
separating equipment (including equipment that processes proppants for hydraulic fracturing), aftermarket parts and
service, and other capital equipment, partially offset by favorable pricing. Foreign currency impact decreased net
revenue by 0.4%.
• Molding Technology Solutions contributed net revenue of $735.8 during the year ended September 30, 2020.
• Batesville’s net revenue increased $19.7 (4%) primarily due to an increase in volume (5%), partially offset by a decrease in average selling price (1%). Higher volume was driven by an increase in burial casket sales primarily due to estimated higher deaths from the COVID-19 pandemic, partially offset by an estimated increased rate at which families opted for cremation.
This post was edited on 9/16/21 at 1:13 pm
Posted on 9/16/21 at 1:16 pm to HubbaBubba
Posted on 9/16/21 at 1:18 pm to HubbaBubba
quote:
A. They either HIGHLY under-performed to the market conditions
OK, I understand this argument. More people died and they failed to capture that market.
quote:
B. There was no change to the market conditions as they previously existed.
Again, you seem to be saying that you don't believe that an additional 500K people died last year. Is that what you are saying?
Posted on 9/16/21 at 1:19 pm to HubbaBubba
Bruh,
All those people buried in mass graves didnt have a casket. They are dying at such a fast pace there is now time.
REEEEEEE. Wear your mask. Get the shot. Make a tik toc video!!!!
All those people buried in mass graves didnt have a casket. They are dying at such a fast pace there is now time.
REEEEEEE. Wear your mask. Get the shot. Make a tik toc video!!!!
Posted on 9/16/21 at 1:21 pm to Mickey Goldmill
quote:Yes, from 2019. That is correct. From 2019. I'm using the average. It is still down in revenue from 2017, and up on 2018 by only $2 million.
Batesville’s net revenue increased $19.7 (4%) primarily due to an increase in volume (5%)
I'm pointing out that they highly under-performed relative to their market indices as pre-existed by nearly a $100 million.
Posted on 9/16/21 at 1:25 pm to HubbaBubba
Everything you questioned is addressed in my entire bolded section of my post (which you chose not to include). It was stated as fact on here that their prices never go down. Well that was wrong. Prices went down 1% and more people are opting for cremations.
Most things this board questions have a simple and logical answer to them.
Most things this board questions have a simple and logical answer to them.
Posted on 9/16/21 at 1:26 pm to Aubie Spr96
quote:I'm pointing out that it's either one or the other. If Batesville didn't capitalize on a $100 million opportunity, then you would think heads would roll, but there's no market information indicating any change in executive leadership at Batesville or Hillenbrand.
Aubie Spr96
I can assure you, if the market for my products suddenly increased by 18%, you can be damned sure heads would roll if we didn't capitalize on that.
I'm simply pointing out the incongruence of the numbers.
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