<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 21, 1998
THE LOEWEN GROUP INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
British Columbia, Canada 0-1842 98-0121376
- ---------------------------- ---------------- ---------------------------------
(State or other jurisdiction (Commission File (IRS Employer Identification No.)
incorporation) Number)
</TABLE>
4126 Norland Avenue, Burnaby, British Columbia V5G 3S8
--------------------------------------------------------------
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code 604-299-9321
------------
N/A
-------------------------------------------------------------
(Former name or former address, if changed since last report)
Exhibit Index is on page 3
Page 1 of 5
<PAGE> 2
ITEM 5. OTHER EVENTS.
Pursuant to Form 8-K, General Instructions F, registrant hereby incorporates by
reference the press release attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
Exhibit 99 The Loewen Group Inc. Press Release dated July 21, 1998
</TABLE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 22, 1998
THE LOEWEN GROUP INC.
By: /s/ BRADLEY D. STAM
-------------------------------
Name: Bradley D. Stam
Title: Senior Vice President, Law
<PAGE> 3
EXHIBIT INDEX
<TABLE>
<CAPTION>
Sequential
Number Exhibit Page Number
- ------ ------- -----------
<S> <C> <C>
99 The Loewen Group Inc. 4
Press Release dated July 21, 1998
</TABLE>
<PAGE> 1
THE LOEWEN GROUP INC
- --------------------------------------------------------------------------------
(NYSE, TSE, ME: LWN) NEWS
Investor contact:
Paul Wagler, Senior Vice President
and Chief Financial Officer
The Loewen Group Inc.
(604) 299-9321
FOR IMMEDIATE RELEASE
LOEWEN GROUP EXPECTS LOWER SECOND QUARTER EARNINGS
VANCOUVER, BC, July 22, 1998 _ The Loewen Group announced today that, based on
preliminary earnings estimates, its second quarter 1998 earnings will be
significantly below First Call consensus earnings estimates of $0.31 per share.
The short fall primarily relates to lower pre-need cemetery sales, lower volumes
in funeral homes, adjustments to cemetery accounts receivable and to one-time
unexpected internal costs resulting from the previously announced consolidation
of the Company's Philadelphia, Pennsylvania office, staff reductions and the
transfer of management functions into the Vancouver Head office.
Chairman and C.E.O. Ray Loewen said, "We are extremely disappointed by the
negative surprises encountered in the consolidation of our Philadelphia office.
We are performing a comprehensive review of strategic alternatives available to
the Company with the objective of maximising shareholder value."
Paul Wagler, the Company's Senior Vice President and Chief Financial Officer
stated that "Second quarter results will be announced in early August pending a
thorough analysis and review of preliminary results."
- more -
<PAGE> 2
- 2 -
The Loewen Group Inc. is the second largest funeral home and cemetery operator
in North America. The company employs approximately 16,000 people and owns or
operates more than 1,100 funeral homes and over 500 cemeteries in the United
States, Canada and the United Kingdom. Over 90 per cent of the company's revenue
is derived from the United States.
Note: Certain of the statements contained in this press release, including, but
not limited to, information regarding the future economic performance and
financial condition of the company, the plans and objectives of the company's
management, and the company's assumptions regarding such performance and plans,
are forwardlooking in nature. Additional information concerning important
factors that could cause actual results to differ from the forwardlooking
information contained in this release is included in the company's publicly
filed quarterly and annual reports.
###
