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Dec 31, 2019
Carriage Services Q4 2019 Earnings Report
Carriage Services' performance significantly improved compared to 2018, reversing declining trends in funeral and cemetery portfolios, with strategic acquisitions positioning the company for future success.
Key Takeaways
Carriage Services reported a 7.0% increase in total revenue for Q4 2019, reaching $71.1 million, and a net income increase of 196.7% to $2.6 million, with diluted earnings per share rising by 200.0% to $0.14.
Total Revenue increased by 7.0% to $71.1 million.
Net Income increased by 196.7% to $2.6 million.
GAAP Diluted Earnings Per Share increased by 200.0% to $0.14.
Total Field EBITDA increased 11.4% to $28.7 million.
Forward Guidance
Carriage Services provided a three-year performance outlook scenario, anticipating revenue between $315 million and $332 million, adjusted diluted EPS between $1.55 and $2.40, and adjusted free cash flow between $42 million and $63 million.
Positive Outlook
- Integrate new acquisitions to enhance revenue and profitability.
- Improve performance in existing funeral and cemetery portfolios.
- Recruit senior leadership to build a high-performance cemetery preneed sales culture.
- Normalize increased earnings and Adjusted Free Cash Flow by mid-2021.
- Optimize capital structure and Adjusted Free Cash Flow, potentially saving $7 million in annual cash interest expense.
Challenges Ahead
- Execution of operational improvements and integration plans.
- Market conditions and changes in death rates.
- Consumer preferences affecting service demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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