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.
Carriage Services, Inc. (NYSE: CSV) reports record second-quarter and first-half results for 2021, with total revenue reaching $88.3 million, a 13.9% increase year-over-year. Same Store Cemetery Revenue surged 42.8% to $16.5 million, contributing to an overall total field EBITDA of $40.0 million (+20.4%). Adjusted diluted EPS rose 42.2% to $0.64. The company repurchased 325,000 shares at approximately $38 per share, enhancing intrinsic value projections to a range of $55 to $65. Cash flow metrics showed a decrease in free cash flow, while the debt-to-EBITDA ratio remains manageable at 3.95x.
On July 21, 2021, Carriage Services, Inc. (NYSE: CSV) announced a quarterly dividend of 10¢ per share, set to be paid on September 1, 2021, to shareholders recorded as of August 9, 2021. The company operates 171 funeral homes across 26 states and manages 32 cemeteries in 11 states, positioning itself as a leading provider in the funeral and cemetery services sector in the U.S.
Carriage Services, Inc. (NYSE: CSV) will release its second quarter 2021 results on July 27, 2021, after market close. A conference call to discuss these results is set for July 28, 2021, at 9:30 a.m. CT, available via phone or online. Carriage Services operates 171 funeral homes and 32 cemeteries across the U.S., positioning itself as a significant player in the funeral and cemetery services industry.
Carriage Services, Inc. (CSV) has established a new Strategic Vision and Principles Group marking its Thirtieth Anniversary. This group includes Chairman and CEO Mel Payne, alongside Ben Brink, Steve Metzger, and Carlos Quezada, who are each promoted to Executive Vice President roles. The company aims for significant growth and is targeting a share price of $77.34 by the end of 2024, with a projected 40% compounded return from its May 2020 price of $14.38. The new leadership structure is intended to enhance operational and financial performance across their funeral and cemetery services.
Carriage Services (CSV) recently shared a significant press release detailing its transformational journey since 2018, highlighting capital allocation priorities and intrinsic share value. The release extends the insights from their 50-page shareholder letter and previous record earnings. CEO Mel Payne reflects on investment philosophy through examples from notable investors. The document emphasizes quality franchises, durable earnings, and sustainable competitive advantages. It also mentions a $400 million bond refinancing and comparisons with Service Corporation International, emphasizing Carriage's robust financial positioning.
Carriage Services closed a private offering of $400 million in 4.25% senior notes due 2029. The proceeds are intended to redeem existing 6.625% senior notes due 2026, set for redemption on June 1, 2021. The 2029 Notes are unsecured and guaranteed by the company's subsidiaries. Additionally, Carriage entered into a $150 million amended senior secured revolving credit facility to support working capital. Approximately $58.8 million is currently borrowed, leaving $89.1 million available. This offering is conducted under Rule 144A and Regulation S without registration under the Securities Act.
Carriage Services, Inc. (NYSE: CSV) has scheduled a conference call on May 14, 2021, at 9:30 a.m. central time to discuss its Senior Notes Refinancing Transaction and a new Roughly Right Range of Intrinsic Value. The call will provide insights into the company’s financial strategy and operational performance. Interested parties can join the call by dialing 866-516-3867 with conference ID 5996527. A replay will be accessible by phone until May 19, 2021. Carriage Services operates 173 funeral homes and 32 cemeteries across the U.S.
Carriage Services has successfully priced its private offering of $400 million in 4.25% senior notes due 2029. The offering is aimed at qualified institutional buyers and certain non-U.S. investors outside the U.S. The notes will be unsecured and backed by guarantees from the company's subsidiaries. The proceeds will be used to redeem existing 6.625% senior notes due 2026. The offering is expected to close on May 13, 2021, subject to customary conditions. This move reflects the company's strategy to optimize its debt structure and reduce interest costs.
Carriage Services, Inc. (CSV) announced a private offering of $400 million in senior notes due 2029. These unsecured notes will be guaranteed by the Company’s subsidiaries and interest will be paid semi-annually. Proceeds will be used to redeem existing 6.625% senior notes due 2026. Additionally, the Company plans to amend its credit facility, which will include a revolving credit of up to $150 million and an accordion feature of up to $75 million. This move aims to enhance financial flexibility and reduce interest expenses.
Carriage Services, Inc. (NYSE: CSV) announced a quarterly dividend of 10¢ per share on April 22, 2021. This dividend will be payable on June 1, 2021, to common share record holders as of May 10, 2021. The company, which provides funeral and cemetery services, operates 173 funeral homes across 26 states and 32 cemeteries in 12 states. This distribution reflects the company's commitment to returning value to its shareholders.
FAQ
What is the current stock price of Carriage Services (CSV)?
What is the market cap of Carriage Services (CSV)?
What does Carriage Services, Inc. do?
What are the main business segments of Carriage Services, Inc.?
How does Carriage Services, Inc. generate revenue?
What recent achievements has Carriage Services, Inc. announced?
How does Carriage Services, Inc. maintain high standards?
When is the next conference call scheduled?
What services does the Funeral Home Operations segment provide?
What services does the Cemetery Operations segment provide?
Who are the key executives at Carriage Services, Inc.?
What is the company's mission statement?
