Carriage Services Inc
NYSE:CSV
Carriage Services Inc
Carriage Services, Inc. engages in the provision of funeral and cemetery services. The company is headquartered in Houston, Texas and currently employs 1,139 full-time employees. The firm operates through two segments: Funeral Home Operations and Cemetery Operations. Funeral Home Operations segment provides service businesses, which includes sales of burial and cremation services and related merchandise, such as caskets and urns. The company provides funeral services and products on both, an atneed (time of death) and preneed (planned prior to death) basis. Cemetery Operations segment is engaged in selling cemetery interment rights, including grave sites, lawn crypts, mausoleum spaces and niches; related cemetery merchandise, such as memorial markers, outer burial containers and monuments; and services, such as interments, inurnments and installation of cemetery merchandise. The company provides cemetery services and products on both an atneed and preneed basis. The firm operates approximately 170 funeral homes in 26 states and over 31 cemeteries in 11 states.
Carriage Services, Inc. engages in the provision of funeral and cemetery services. The company is headquartered in Houston, Texas and currently employs 1,139 full-time employees. The firm operates through two segments: Funeral Home Operations and Cemetery Operations. Funeral Home Operations segment provides service businesses, which includes sales of burial and cremation services and related merchandise, such as caskets and urns. The company provides funeral services and products on both, an atneed (time of death) and preneed (planned prior to death) basis. Cemetery Operations segment is engaged in selling cemetery interment rights, including grave sites, lawn crypts, mausoleum spaces and niches; related cemetery merchandise, such as memorial markers, outer burial containers and monuments; and services, such as interments, inurnments and installation of cemetery merchandise. The company provides cemetery services and products on both an atneed and preneed basis. The firm operates approximately 170 funeral homes in 26 states and over 31 cemeteries in 11 states.
Revenue Growth: Carriage Services reported total operating revenue of $101.3 million for Q3, up 5.2% year-over-year, driven mainly by strong preneed cemetery sales.
Preneed Cemetery Sales: Preneed cemetery sales surged 21.4% from last year, rebounding after earlier permit delays and fueling growth in the cemetery segment.
Adjusted EPS & Margins: Adjusted diluted EPS increased to $0.75, up 17.2% from last year, and adjusted consolidated EBITDA margin expanded by 160 basis points to 32.1%.
Funeral Segment Weakness: Funeral operating revenue declined 1.3% due to a 2.1% drop in volume in July and August, though volume normalized in September and October.
Tech Investments: The company launched Sales Edge 2.0 (an upgraded CRM) and plans to introduce Titan, an AI-powered sales agent, to boost sales efficiency.
Divestitures & Capital Allocation: Several noncore assets were sold in Q3, helping pay down debt and reduce leverage to 4.1x; management does not expect major future divestitures.
Guidance Reaffirmed: 2025 outlook was narrowed and reaffirmed, targeting record revenue, EBITDA, and EPS with continued focus on cost control and balance sheet strength.
