Carriage Services Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw revenue and profitability growth despite lower funeral volumes, driven by operational discipline, higher average revenue per contract, and strong preneed sales. Guidance was revised downward for revenue due to first-half softness and delayed acquisitions, but profitability metrics remain strong.
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Q1 2026 saw revenue dip 0.9% year-over-year due to lower funeral volumes, but EBITDA margin improved to 31.8% and cemetery segment growth offset declines. Guidance for 2026 is reaffirmed, with robust M&A activity expected and capital flexibility enhanced by the new ATM program.
Fiscal Year 2025
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Q4 and full-year 2025 saw strong revenue and margin growth, driven by funeral and cemetery segments, disciplined capital allocation, and successful integration of new acquisitions. 2026 guidance projects continued revenue and EPS growth, with ongoing investments in technology and supply chain optimization.
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Third quarter revenue grew 5.2% year-over-year, driven by strong pre-need cemetery sales and insurance-funded funeral sales. Adjusted EBITDA margin expanded to 32.1%, and full-year guidance was reaffirmed, with continued focus on disciplined capital allocation and operational excellence.
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Second quarter results showed flat revenue but strong net income and EPS growth, with margin pressure from inflation and inventory delays. Guidance was raised for revenue, EBITDA, and EPS, supported by resumed acquisitions and disciplined capital management.
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First quarter revenue grew 3.5% year-over-year, with strong funeral and cemetery segment performance and a 28% increase in adjusted EPS. Guidance for 2025 is maintained amid macro uncertainty, but management expects to raise it if momentum continues after Q2.
Fiscal Year 2024
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2024 delivered strong organic growth, margin expansion, and significant debt reduction, despite a Q4 dip in funeral volumes due to a late flu season. 2025 guidance anticipates stable revenue, margin improvement, and continued capital discipline, with Project Trinity and supply chain initiatives set to drive future gains.
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Q3 2024 saw double-digit revenue and EBITDA growth, driven by preneed cemetery sales and pricing strategies, with raised full-year guidance and continued debt reduction. Large, non-recurring sales boosted results, and M&A activity is expected to resume in 2025.
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Q2 2024 revenue rose 4.8% to $102.3 million, driven by strong preneed cemetery sales and higher funeral contract averages. Adjusted EBITDA and EPS increased, while GAAP net income declined due to non-recurring costs. 2024 guidance was raised for revenue, EBITDA, and EPS.