Carriage Services Q3 revenue up 3.4% to $90.5M; tightens FY guidance

CARRIAGE SERVICES INC

Total revenue $90.5M (+3.4% YoY), net income $4.6M ($0.30 diluted EPS) vs $5.9M ($0.38) prior year.
Cemetery operating revenue grew 15.5%; adjusted consolidated EBITDA increased 6.1% to $24.3M, margin 26.8% (+70 bps).
Adjusted free cash flow rose 30% to $21.4M; repaid $16.7M on credit facility during the quarter.
FY 2023 guidance tightened: revenue $375-$380M, adjusted EBITDA $105-$110M, adjusted EPS $1.90-$2.00; free cash flow reaffirmed $50-$60M.
Interest expense ~$0.12/share increase offset operating gains; management cites inflation and death rate normalization as headwinds.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARRIAGE SERVICES INC updated its third quarter ended September 30, 2023 guidance (reaffirmed).

Period: third quarter ended September 30, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Carriage Services, Inc. (NYSE: CSV) today announced its financial results for the third quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001016281-23-000129

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