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 reported a strong first quarter of 2021, with total revenue rising 24.7% to $96.6 million. Field EBITDA increased by 52.1% to $45.8 million, while adjusted diluted EPS rose 131.4% to $0.81. The company achieved a notable reduction in total debt from $461.1 million to $439.4 million, improving the debt to EBITDA ratio to 3.8 times. Adjusted free cash flow surged 115.3% to $27.1 million, reflecting a robust free cash flow margin of 28.1%. The outlook for 2021 and 2022 is optimistic, anticipating continued growth driven by increased cemetery preneed sales and market share gains.
Carriage Services, Inc. (NYSE: CSV) is set to release its 2021 first quarter earnings on April 21, 2021, after market close. The company will host a live conference call to discuss the results on April 22, 2021, at 9:30 a.m. central time. The call can be accessed by dialing 866-516-3867 or online via the company's website. Carriage Services operates 173 funeral homes across 26 states and manages 32 cemeteries in 12 states, making it a leading provider in the funeral and cemetery services sector.
Carriage Services (NYSE: CSV) reported strong financial results for YTD February 2021, highlighting a record in several key performance metrics. Same-store funeral contracts rose by 29.2% to 7,734, with total revenue reaching $65.7 million, a 26.9% increase. Key EBITDA metrics showed a total field EBITDA of $32.2 million (+58.9%) and adjusted diluted earnings per share of $0.64 (+220%). The company is focused on continued growth and plans to refinance $400 million in senior notes under improved terms due to its enhanced credit profile.
Carriage Services, Inc. (NYSE: CSV) announced the extension of Chairman and CEO Mel Payne's employment agreement for seven years, through February 17, 2028. The Board expressed confidence in Payne's leadership, highlighting his contribution to the company's high-performance culture and transformation efforts. The stock option structure for this extension is aligned with the Good To Great II Shareholder Value Creation Plan, with one-third of options vesting at a share price of $53.39 and two-thirds at $77.34. The company operates 176 funeral homes and 32 cemeteries across the U.S.
Carriage Services, Inc. (CSV) reported record financial results for Q4 and FY 2020, with revenues of $90.1 million and $329.4 million, respectively. Adjusted EBITDA reached $28.3 million for Q4 and $104.3 million for the full year, yielding a margin of 31.6%. The company achieved a record diluted EPS of $1.86, reflecting a 48.8% increase year-over-year. Despite a high leverage ratio of 4.4 times, CSV plans to refinance $400 million in senior notes to lower interest costs. The pandemic's impact spurred performance growth, and January 2021 showed continued strong metrics, signaling sustained operational momentum.
Carriage Services, Inc. (NYSE: CSV) announced plans to release its 2020 annual financial results on February 17, 2021, after market close. A conference call to discuss these results is scheduled for February 18, 2021, at 9:30 a.m. CT, available via phone and online. Carriage operates 178 funeral homes and 32 cemeteries across multiple states in the U.S., making it a prominent provider in the funeral and cemetery services sector.
Carriage Services, Inc. (NYSE: CSV) has declared a quarterly dividend of 10¢ per share. This dividend will be payable on March 1, 2021, to common share record holders as of February 8, 2021. Operating 178 funeral homes across 26 states and 32 cemeteries in 12 states, Carriage Services is a prominent provider in the funeral and cemetery service industry in the United States. This announcement reflects the company’s commitment to returning value to its shareholders.
Carriage Services (NYSE: CSV) is set to participate in the Virtual Sidoti Winter 2021 Investor Conference on January 13, 2021. The company, a major provider of funeral and cemetery services in the U.S., operates 178 funeral homes and 32 cemeteries across multiple states. A new presentation related to the conference is available for registered participants on the Sidoti conference portal and the company's website.
For further inquiries, contact Viki Blinderman or Ben Brink at the provided phone numbers or through their investor relations email.
On October 27, 2020, Carriage Services (NYSE: CSV) announced an increase in its quarterly dividend to 10¢ per share, payable on December 1, 2020, to shareholders recorded as of November 9, 2020. This decision comes after the Board of Directors withdrew its previous dividend declaration from October 21, 2020. Carriage Services is a prominent provider of funeral and cemetery services, operating 180 funeral homes across 27 states and 32 cemeteries in 12 states.
Carriage Services announced record third-quarter results for 2020, showing a 27.6% revenue increase to $84.4 million. Adjusted Consolidated EBITDA rose 60.1% to $27.7 million, with an adjusted EPS of $0.51, an 82.1% increase. Total debt decreased by 7.4% to $471 million, improving the debt-to-EBITDA ratio to 4.8 times. The company raised its four-quarter outlook, projecting revenue of $324 million to $332 million and increased its annual dividend by $0.05 to $0.40 per share.
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