Carriage Svcs Inc Stock Price, News & Analysis

Carriage Services (CSV) announced a conference call on December 13, 2022, to unveil its High Performance and Credit Profile Restoration Plan (HPCPRP). The plan includes acquiring Greenlawn Funeral Homes and Cemeteries and targets 2024 performance metrics of $390-$400 million in revenue, $120-$126 million EBITDA, and $46-$50 million GAAP net income. The company aims to reduce its debt to EBITDA ratio to 4.0-4.3 times by 2024. October and November 2022 showed significant improvements in same-store funeral volumes and revenues compared to previous years, indicating a potential recovery post-COVID.

Carriage Services, Inc. (CSV) reported a third-quarter revenue of $87.5 million, a 7.9% decrease year-over-year. The Adjusted Diluted EPS fell by 45.1% to $0.45. Acquisitions include Heritage Funeral Homes and Forest Lawn East Cemetery in Charlotte, NC. Despite lower performance metrics due to normalizing death rates post-pandemic, management remains optimistic about future growth through strategic acquisitions. Notable decreases were seen in GAAP Net Income (down 55.1%) and Adjusted Free Cash Flow (down 36.3%) compared to prior year.

Carriage Services, Inc. (NYSE: CSV) has acquired Heritage Funeral and Cremation Services alongside Forest Lawn East Cemetery, which includes three funeral homes and a cemetery located in Charlotte, North Carolina. This acquisition enhances Carriage's presence in a rapidly growing market, serving over 1,200 families annually. The former owners, Harris High and Carolyn Williams, express confidence in the transition, indicating a seamless integration into Carriage's operations. This move aligns with Carriage's strategy to partner with top independent funeral and cemetery businesses to expand their footprint.

On October 19, 2022, Carriage Services declared a quarterly dividend of 11.25¢ per share, to be paid on December 1, 2022. The record date is set for November 7, 2022. Carriage Services operates 169 funeral homes across 26 states and manages 31 cemeteries in 11 states, positioning itself as a leading player in the funeral and cemetery services industry. This dividend payout reflects the company's ongoing commitment to returning value to shareholders.

Carriage Services, Inc. (NYSE: CSV) is set to announce its third quarter results for 2022 on October 26, after market close. A conference call to discuss these earnings will take place on October 27, 2022, at 9:30 a.m. Central Time. Investors can access the call via audio conferencing or online webcast. The company is recognized as a leading provider of funeral and cemetery services in the U.S., operating 169 funeral homes and 32 cemeteries across various states.

Carriage Services (NYSE: CSV) announced the departure of CFO Ben Brink, effective immediately, with plans for him to assist in the transition until June 30, 2023. Brink's departure is characterized as amicable, and he has chosen to pursue new career opportunities after 13 years with the company. CEO Mel Payne emphasized the company's growth trajectory and resilience in the current economic environment, citing strong operational improvements and promising acquisition opportunities. Brink will receive either $1 million or 30,000 CSV shares as part of his severance package.

Carriage Services (NYSE: CSV) announced the acquisition of substantially all assets of Funeraria San Juan in Kissimmee, Florida, enhancing its portfolio of funeral homes. This strategic move aligns with Carriage’s focus on partnering with high-growth independent funeral businesses, adding a team that served over 800 families last year. Fred Richardt, the former owner, expressed confidence in Carriage's ability to grow San Juan, highlighting the smooth transition process. Carriage operates 169 funeral homes across the U.S., indicating a robust market presence.

Carriage Services, Inc. (NYSE: CSV) announced a quarterly dividend of 11.25¢ per share, declared on July 20, 2022. This dividend will be payable on September 1, 2022 to holders of record as of August 8, 2022. Carriage Services is a prominent provider in the funeral and cemetery industry, operating 167 funeral homes across 26 states and 31 cemeteries in 11 states.

Carriage Services, Inc. (CSV) announced its financial results for Q2 2022, reporting a revenue increase to $90.6 million, up 2.6% year-over-year. GAAP Net Income surged to $10.9 million, a remarkable 276.7% increase. However, the company faced challenges, with Total Field EBITDA declining by 3.4% to $38.6 million due to a decrease in Same Store Cemetery performance. The company has invested $176.7 million in share repurchases since May 2021 and is prioritizing acquisitions and capital expenditures for growth.