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Dec 31, 2025
Carriage Services Q4 2025 Earnings Report
Carriage Services Q4 2025 Earnings Report
Key Takeaways
Carriage Services delivered strong fourth-quarter results with an 8% revenue increase and a 24.2% rise in GAAP diluted EPS. Growth was primarily driven by a 9.6% increase in funeral operating revenue and an 18.4% increase in cemetery operating revenue, supported by higher contract volumes and robust preneed cemetery sales production.
Total revenue grew 8.0% to $105.5 million, driven by funeral volume and preneed cemetery sales.
GAAP diluted EPS increased 24.2% to $0.77, while Adjusted diluted EPS rose 21.0% to $0.75.
Cemetery operating revenue saw significant growth of 18.4% due to strong preneed sales production.
The company successfully reduced its leverage ratio to 4.0x through strategic divestitures and acquisitions.
Revenue by Segment
Forward Guidance
Carriage Services issued guidance for the full year 2026, projecting continued growth in revenue and profitability.
Positive Outlook
- Total revenue expected between $440 million and $450 million.
- Adjusted consolidated EBITDA projected at $135 million to $140 million.
- Adjusted diluted EPS forecasted between $3.35 and $3.55.
- Adjusted free cash flow expected to be $40 million to $50 million.
- Anticipated revenue impact from recent strategic acquisitions.
Challenges Ahead
- Capital expenditures projected at $25 million to $30 million.
- Potential impact from future divestitures of non-core assets.
- Uncertainty regarding the timing of acquisition integrations.
- Exposure to fluctuations in death rates and consumer preferences.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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