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Jun 30, 2023
Carriage Services Q2 2023 Earnings Report
Announced financial results for the second quarter ended June 30, 2023.
Key Takeaways
Carriage Services reported a 7.8% increase in total revenue, driven by strong growth in cemetery and funeral segments. Adjusted consolidated EBITDA increased by 13.3%, and adjusted diluted EPS was $0.53.
Total revenue increased $7.1 million, a 7.8% increase year-over-year, driven by 16.1% growth in cemetery and 4.6% growth in funeral.
Adjusted consolidated EBITDA increased $3.4 million, a 13.3% increase year-over-year, with adjusted consolidated EBITDA margin increasing 150 basis points to 29.4%.
The company outperformed second quarter 2023 financial expectations with adjusted diluted EPS of $0.53.
The company reaffirmed full-year 2023 outlook of $375-$385 million in total revenue.
Revenue by Segment
Forward Guidance
Carriage Services reaffirmed its full-year 2023 outlook.
Positive Outlook
- Total revenue between $375 million and $385 million.
- Adjusted consolidated EBITDA between $110 million and $115 million.
- Adjusted diluted earnings per share between $2.25 and $2.40.
- Adjusted free cash flow between $50 million and $60 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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