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Sep 30, 2021
Carriage Services Q3 2021 Earnings Report
Announced record third quarter and nine month results
Key Takeaways
Carriage Services reported a record third quarter with revenue of $95.0 million and adjusted diluted EPS of $0.82. The company invested $53.2 million to repurchase 1,203,493 shares and increased its Intrinsic Value Roughly Right Range to $65 to $75 per share.
Record Third Quarter Revenue of $95.0 million and Adjusted Diluted EPS of $0.82.
Increased Rolling Four Quarter, 2021 and 2022 Roughly Right Range Outlooks.
Invested $53.2 million to repurchase 1,203,493 shares ($44.24 per share) since second quarter release.
Increased Intrinsic Value Roughly Right Range to $65 to $75 Per Share.
Forward Guidance
Carriage Services increased its Rolling Four Quarter Outlook and Roughly Right Range Two Year Scenario ending December 31, 2022, expecting continued organic growth.
Positive Outlook
- Increased Cemetery Preneed Property Sales leading to higher Cemetery Revenue growth rates at Record and Sustainable 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.
- Incremental Growth of Financial Revenue and Financial EBITDA.
- Higher Returns on Invested Capital from continued disciplined capital allocation combined with a lower Cost of Capital from lower interest expense due to senior note refinancing completed in the second quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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