Carriage Services Q4 net income falls 38% to $8.2M; full-year EPS $2.63, guides 2023 EPS $2.25-2.40

CARRIAGE SERVICES INC

2022-FY EPS reported $2.63 revenue$370,174,000

Full year 2022 total revenue $370.2M (down 1.5% YoY); net income $41.4M (up 25% YoY); diluted EPS $2.63 (up 45% YoY).
Q4 2022 total revenue $93.9M (down 2.1% YoY); net income $8.2M (down 38% YoY); diluted EPS $0.53 (down 31% YoY).
2023 guidance: total revenue $375-385M, adjusted EBITDA $110-115M, adjusted diluted EPS $2.25-2.40.
Expects to close acquisition of Greenlawn Funeral Homes and Cemeteries in Bakersfield, CA within weeks.
Capital allocation priority for 2023: pay down debt, target leverage 4.0-4.3x by end of 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CARRIAGE SERVICES INC reported FY 2022 results: revenue $370,174, net income $41,381, EPS $2.63.

Period: FY 2022
Revenue: $370,174
Net income: $41,381
EPS: $2.63
Result: reported results

Exact text from the filing

GAAP Metrics: Total revenue (1) $ 95,931 $ 93,916 $ 375,886 $ 370,174 Net income $ 13,347 $ 8,220 $ 33,159 $ 41,381 Net income margin 13.9% 8.8% 8.8% 11.2% Diluted EPS $ 0.77 $ 0.53 $ 1.81 $ 2.63

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CARRIAGE SERVICES INC reported Q4 2022 results: revenue $93,916, net income $8,220, EPS $0.53.

Period: Q4 2022
Revenue: $93,916
Net income: $8,220
EPS: $0.53
Result: reported results

Exact text from the filing

GAAP Metrics: Total revenue (1) $ 95,931 $ 93,916 $ 375,886 $ 370,174 Net income $ 13,347 $ 8,220 $ 33,159 $ 41,381 Net income margin 13.9% 8.8% 8.8% 11.2% Diluted EPS $ 0.77 $ 0.53 $ 1.81 $ 2.63

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CARRIAGE SERVICES INC reported FY 2023 results: revenue $375-$385 million, EPS $2.25-$2.40. Guidance initiated.

Period: FY 2023
Revenue: $375-$385 million
EPS: $2.25-$2.40
Guidance: initiated
Result: guidance update

Exact text from the filing

For 2023, we are forecasting total revenue in the range of $375-$385 million, adjusted consolidated EBITDA in the range of $110-$115 million, and adjusted diluted earnings per share in the range of $2.25-$2.40.

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Source: SEC EDGAR

accession 0001016281-23-000020

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