Quarterly ResultMay 6, 2026, 04:26 PM
Carriage Services Q1 Revenue $106.1M; Launches $100M Equity Offering
AI Summary
Carriage Services announced its first quarter 2026 financial results, reporting a modest decline in total revenue to $106.1 million but an increase in Adjusted Consolidated EBITDA to $33.8 million. GAAP diluted EPS decreased significantly due to a prior year gain, while adjusted diluted EPS saw a smaller decline. Concurrently, the company launched a $100 million "at the market" equity offering program to provide flexible capital for strategic acquisitions and balance sheet optimization.
Key Highlights
- Carriage Services announced an "at the market" equity offering program to sell up to $100 million in common stock.
- Q1 2026 total revenue decreased modestly by $0.9 million to $106.1 million compared to Q1 2025.
- Adjusted Consolidated EBITDA grew 2.4% to $33.8 million, with margins expanding 100 basis points to 31.8%.
- GAAP diluted EPS decreased 37.3% to $0.84, primarily due to a prior year gain on divestitures and real property sale.
- Adjusted diluted EPS decreased 10.4% to $0.86, impacted by a higher tax rate.
- Consolidated cemetery revenue increased 6.0%, driven by a 10.0% increase in preneed sales production.
- The company lowered its leverage ratio to 4.0x from 4.2x in the prior year period.
- 2026 outlook confirmed: total revenue $440-$450 million, adjusted consolidated EBITDA $135-$140 million, adjusted diluted EPS $3.35-$3.55.