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Jun 30, 2025
Carriage Services Q2 2025 Earnings Report
Carriage Services announced its second quarter 2025 results, strategic acquisitions, and raised its full-year 2025 outlook.
Key Takeaways
Carriage Services reported a strong second quarter in 2025, with significant GAAP net income and diluted EPS growth compared to the prior year. Despite the impact of first-quarter divestitures, total revenue remained flat due to organic growth strategies. The company is re-entering its acquisition strategy with new businesses under contract, leading to an updated and raised full-year guidance.
GAAP net income increased by $5.5 million, or 85.7%, over the prior year quarter.
GAAP diluted EPS grew by 85.0% to $0.74, and adjusted diluted EPS increased by 17.5% to $0.74.
Total consolidated revenue remained flat at $102.1 million, despite divestitures, due to organic growth and a 1.4% increase in consolidated funeral average revenue per contract.
The company is under contract to acquire strategic businesses that generated over $15 million in revenue last year, signaling a return to growth through acquisitions and leading to a raised full-year outlook.
Revenue by Segment
Forward Guidance
Carriage Services has revised its full-year 2025 outlook upwards, reflecting current performance trends, as well as the anticipated impact of divestitures and new acquisitions in the second half of the year.
Positive Outlook
- Total revenue guidance raised to $410 million – $420 million (from $400 million – $410 million).
- Adjusted consolidated EBITDA guidance raised to $129 million – $134 million (from $128 million – $133 million).
- Adjusted diluted EPS guidance raised to $3.15 – $3.35 (from $3.10 – $3.30).
- Anticipated closings of strategic business acquisitions later in the current quarter, adding over $15 million in revenue.
- Return to a long-term strategy of adding shareholder value through high-quality acquisitions.
Challenges Ahead
- No specific negative forward guidance points were highlighted in the provided text.
- The outlook includes the expected revenue impact of divestitures, which previously had a flat impact on total revenue.
- Forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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