Carriage Svcs Inc Stock Price, News & Analysis

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.

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.