Carriage Services Inc
NYSE:CSV
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Carriage Services Inc
NYSE:CSV
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US |
Carriage Services Inc
Carriage Services Inc. runs funeral homes and cemeteries in the United States. It helps families arrange funeral services, cremations, memorials, burials, and related merchandise such as caskets, urns, and memorial products. The company also manages cemetery grounds and sells burial plots and other cemetery property and services. Its customers are mainly families and individuals making end-of-life arrangements, along with people planning ahead through pre-need contracts. Carriage makes money from service fees, merchandise sales, cemetery property sales, and prepaid contracts that are fulfilled later. This mix gives it both immediate service revenue and a backlog of future obligations funded in advance. What makes the business distinct is that it sits at a very local, relationship-driven point in the care chain. Families usually choose a provider close to home and value trust, reputation, and convenience more than brand advertising. That makes funeral and cemetery businesses durable but also dependent on careful local management and steady upkeep of facilities and service quality.
Carriage Services Inc. runs funeral homes and cemeteries in the United States. It helps families arrange funeral services, cremations, memorials, burials, and related merchandise such as caskets, urns, and memorial products. The company also manages cemetery grounds and sells burial plots and other cemetery property and services.
Its customers are mainly families and individuals making end-of-life arrangements, along with people planning ahead through pre-need contracts. Carriage makes money from service fees, merchandise sales, cemetery property sales, and prepaid contracts that are fulfilled later. This mix gives it both immediate service revenue and a backlog of future obligations funded in advance.
What makes the business distinct is that it sits at a very local, relationship-driven point in the care chain. Families usually choose a provider close to home and value trust, reputation, and convenience more than brand advertising. That makes funeral and cemetery businesses durable but also dependent on careful local management and steady upkeep of facilities and service quality.
Revenue: Carriage reported first-quarter revenue of $106.1 million, down 0.9% from last year, with funeral volume softness partially offset by growth in cemetery and preneed businesses.
Profitability: Adjusted consolidated EBITDA rose to $33.8 million, with margin improving to 31.8%, but adjusted diluted EPS fell to $0.86 mainly because of a higher tax rate.
Outlook: Management reaffirmed full-year 2026 guidance, including $440 million to $450 million of revenue and $135 million to $140 million of adjusted EBITDA.
M&A: The company said its acquisition pipeline is robust, expects one deal to close later this month, and now expects more activity in the back half of the year.
ATM program: Carriage launched an at-the-market equity offering program to add funding flexibility for acquisitions while keeping leverage in its target range.
Operations: Management said funeral volumes should normalize later in the year, while cemetery preneed sales, pricing, and systems integration continued to improve.
