---
schema_version: "secwatch.filing_event.v1"
accession: "0001016281-22-000123"
form_type: "8-K"
ticker: "CSV"
cik: "0001016281"
company_name: "CARRIAGE SERVICES INC"
filed_at: "2022-12-12T23:59:59+00:00"
generated_at: "2026-06-21T05:54:47.233839+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Carriage Services launches HPCPRP plan, targets 2024 revenue $390-400M, acquires Greenlawn

## Summary
- Definitive agreement to acquire Greenlawn Funeral Homes and Cemeteries (Bakersfield, CA); expected close early 2023; proforma 2023 revenue ~$23-24M, EBITDA ~$8-9M.
- 2024 goals: Total Revenue $390-400M, Consolidated EBITDA $120-126M, GAAP diluted EPS $2.95-$3.05, leverage target 4.0-4.3x Debt/EBITDA.
- Amended $250M credit facility raises leverage covenant to 6.0x through June 2023; higher interest rate spreads; $194.3M outstanding post-amendment.
- No share repurchases or dividend increases until leverage below 4.25x; plan to cut borrowings by $90-100M from Q1 2023 peak to end-2024.
- CEO assumes responsibility for prior aggressive share buybacks; stock fell below $25 before the plan's announcement.

## SEC filing metadata
- accession: 0001016281-22-000123
- form_type: 8-K
- ticker: CSV
- cik: 0001016281
- company_name: CARRIAGE SERVICES INC
- filed_at: 2022-12-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1016281/000101628122000123/0001016281-22-000123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1016281/000101628122000123/csv-20221212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001016281-22-000123
- JSON: https://secwatch.observer/filing/0001016281-22-000123.json
- Plain text: https://secwatch.observer/filing/0001016281-22-000123.txt

## Key facts
- Material Agreements
  CARRIAGE SERVICES INC amended Credit Agreement Amendment with the financial institutions party thereto, as lenders, and Bank of America, N.A., as administrative agent (effective 2022-12-09).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: the financial institutions party thereto, as lenders, and Bank of America, N.A., as administrative agent
  - Effective: 2022-12-09
  source text: On December 9, 2022, Carriage Services, Inc. (the “ Company ”) entered into a third amendment (the “ Credit Agreement Amendment ”) to its first amended and restated credit agreement dated May 13, 2021 (as amended, the “ Amended Credit Agreement ”), with the financial institutions party thereto, as lenders, and Bank of America, N.A., as administrative agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1016281/000101628122000123/0001016281-22-000123-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.