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Mar 31, 2023
Carriage Services Q1 2023 Earnings Report
Outperformed financial expectations amid uncertainty against an elevated COVID-19 first quarter 2022 comparable.
Key Takeaways
Carriage Services' first quarter 2023 results exceeded expectations despite challenges from a high-performing prior year influenced by the COVID-19 pandemic. The company's cemetery operating revenue increased, and it completed the acquisition of Greenlawn Funeral Homes and Cemeteries.
Outperformed first quarter 2023 financial expectations amid uncertainty against an elevated COVID-19 first quarter 2022 comparable.
Cemetery operating revenue increased to $21.6 million, or ~6%, driven by growth in preneed sales.
Closed the acquisition of Greenlawn Funeral Homes and Cemeteries, gaining access to ~40% of market share in Bakersfield, California.
Reaffirms full-year 2023 outlook of $375-$385 million in total revenue.
Revenue by Segment
Forward Guidance
Carriage Services reaffirms its full-year 2023 outlook, anticipating total revenue between $375 and $385 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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