Welcome to our dedicated page for Carriage Services news (Ticker: CSV), a resource for investors and traders seeking the latest updates and insights on Carriage Services stock.
Carriage Services, Inc. (CSV) is a leading provider of professional funeral and cemetery services and products in the United States. The company operates in two main business segments: Funeral Home Operations and Cemetery Operations. This dual-segment approach allows Carriage Services to offer a comprehensive range of services, meeting the diverse needs of client families and communities nationwide.
The Funeral Home Operations segment provides burial, cremation, and consultation services. It manages the entire funeral process, including the removal and preparation of remains, sale of caskets, urns, and other funeral merchandise. Operating funeral home facilities also allows the company to offer visitation, remembrance, and transportation services, contributing significantly to its revenue.
On the other hand, the Cemetery Operations segment covers various cemetery services such as mausoleum crypts, private estates, lawn crypt gardens, traditional single burial gravesites, and burial vaults. This segment complements the funeral services by providing a final resting place for the deceased, ensuring a seamless and respectful end-to-end experience for families.
Carriage Services prides itself on maintaining high ethical standards and professionalism. The company believes that a strong, dedicated workforce is the foundation of its high-performance culture. This commitment to excellence ensures that they provide top-tier service, continually meeting the needs of their clients.
Recent Achievements and Updates
- Conference call on November 9, 2023, addressing financial performance and future strategies.
- Solid performance in Q1 2024, with an 8.4% increase in total revenue and a significant rise in preneed cemetery sales.
- Improvement in adjusted consolidated EBITDA by 20.9% for Q1 2024, showcasing effective cost management and strategic initiatives.
- Continued focus on strategic objectives aimed at enhancing service quality and operational efficiency, as outlined in the 2023 shareholder letter.
Carriage Services remains focused on its mission of creating premier experiences through innovation, empowered partnerships, and elevated service. They are dedicated to delivering high-quality funeral and cemetery services, ensuring that every client family receives compassionate and professional care.
On April 20, 2023, Carriage Services, Inc. (NYSE: CSV) announced a quarterly dividend of 11.25¢ per share, scheduled for payment on June 1, 2023. This dividend will be available to shareholders on record as of May 8, 2023. Carriage Services is a prominent provider of funeral and cemetery services across the United States, operating 173 funeral homes in 26 states and 32 cemeteries in 11 states.
Carriage Services, Inc. (NYSE: CSV) will release its 2023 first quarter earnings on May 3, 2023, after market close. Following the earnings release, a conference call is scheduled for May 4, 2023, at 9:30 a.m. CT, which will be accessible via audio conferencing and a webcast link. Carriage Services is a prominent provider of funeral and cemetery services in the U.S., operating 173 funeral homes and 32 cemeteries across various states.
Carriage Services, Inc. (NYSE: CSV) has successfully acquired substantially all assets of Greenlawn Funeral Homes, Cemeteries and Cremations, and Wood Family Funeral Service, which includes three funeral homes, two cemeteries, and a cremation business in Bakersfield, California. This acquisition enhances Carriage's market presence, as Greenlawn holds a nearly 40% market share in the region. The move aligns with Carriage's strategy to partner with high-quality independent funeral services, aiming to strengthen their market position and expand their service capabilities.
Carriage Services, Inc. (NYSE:CSV) has announced the appointment of Kian Granmayeh as Executive Vice President, Chief Financial Officer, and Treasurer, effective March 13, 2023. Granmayeh has previously held executive positions, including CFO of Tellurian, and has a strong background in finance and investor relations. Chairman and CEO Mel Payne expressed enthusiasm for Granmayeh's strategic approach and leadership qualities, emphasizing the company’s commitment to growth and a people-driven culture. Mel Payne, recovering from health issues, reassured stakeholders of ongoing leadership and strategic initiatives aimed at sustainable growth.
Carriage Services, Inc. (NYSE: CSV) announced its 2022 financial results on February 22, 2023, reporting a 10.5% compound annual growth in total revenue compared to pre-COVID 2019. The company achieved a 27.8% growth in adjusted diluted EPS and a 25% increase in net income year-over-year. The fourth quarter results surpassed expectations due to an increased number of non-COVID-19 related deaths. The acquisition of Greenlawn Funeral Homes is anticipated to close soon, and 2023 guidance projects total revenue of $375-$385 million and adjusted EBITDA of $110-$115 million. The firm aims to reduce debt leverage to 4.0-4.3 times by 2024.
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