Carriage Services Q2 revenue up 7.8% to $97.7M; adjusted EBITDA margin expands to 29.4%

CARRIAGE SERVICES INC

Total revenue $97.7M (+7.8% YoY); cemetery revenue grew 16.1%, funeral 4.6%.
Adjusted diluted EPS $0.53, beating expectations; GAAP diluted EPS $0.53 (down from $0.69).
Adjusted consolidated EBITDA $28.7M (+13.3% YoY); margin up 150 bps to 29.4%.
FY2023 guidance reaffirmed: revenue $375-$385M, adj. EBITDA $110-$115M, adj. EPS $2.25-$2.40.
Added three new independent directors as part of Board refreshment plan.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

CARRIAGE SERVICES INC reported second quarter ended June 30, 2023 results: revenue $97,678, net income $8,286, EPS $0.53. Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $97,678
Net income: $8,286
EPS: $0.53
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Mr. Quezada. FINANCIAL HIGHLIGHTS Three Months Ended June 30, Six Months Ended June 30, (000’s except margins and EPS) 2022 2023 2022 2023 GAAP Metrics: Total revenue $ 90,600 $ 97,678 $ 188,761 $ 193,192 Net income $ 10,899 $ 8,286 $ 27,301 $ 17,130 Net income margin 12.0% 8.5% 14.5% 8.9% Diluted EPS $ 0.69 $ 0.53 $ 1.70 $ 1.10 Cash provided by operating

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Source: SEC EDGAR

accession 0001016281-23-000104

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