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Mar 31, 2021
Carriage Services Q1 2021 Earnings Report
Reported record first quarter results with revenue and earnings growth.
Key Takeaways
Carriage Services reported a record first quarter, with Total Revenue increasing by 24.7% to $96.6 million, Field EBITDA increasing by 52.1% to $45.8 million, and Adjusted Diluted EPS increasing by 131.4% to $0.81.
Total Revenue increased by 24.7% to $96.6 million.
Field EBITDA increased by 52.1% to $45.8 million.
Adjusted Diluted EPS increased by 131.4% to $0.81.
Adjusted Free Cash Flow increased by 115.3% to $27.1 million.
Revenue by Segment
Forward Guidance
Carriage Services increased its Roughly Right Scenario for 2021 and 2022, reflecting continued High Performance execution and expectations for accelerated High Performance in the coming years.
Positive Outlook
- Increased Cemetery Preneed Sales leading to higher Cemetery Revenue growth rates with higher sustained Cemetery Field EBITDA Margins.
- Continuation of local market share gains across our funeral home portfolio.
- Growth in Average Revenue per Funeral Contract, particularly Cremation contracts.
- Sustained higher plateau of Financial Revenue and Financial EBITDA.
- Higher Returns on Invested Capital from continued disciplined capital allocation combined with a lower Cost of Capital.
Challenges Ahead
- The relative unknown trajectory of the Coronavirus Pandemic.
- The impact of the current vaccination campaign on the death rate in the short term.
- Potential senior note refinancing transaction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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