Carriage Services Q4 revenue up 5.2%; founder Payne steps down; strategic review ends with no sale

CARRIAGE SERVICES INC

Q4 revenue $98.8M (+5.2% YoY); adj. EBITDA $32.4M (+13.2% YoY); adj. diluted EPS $0.77 vs $0.64.
Full-year 2023 revenue $382.5M (+3.3%); adj. EBITDA $113.2M (+3.5%); GAAP net income $33.4M, down from $41.4M due to higher interest.
Founder & Executive Chairman Mel Payne ceases role effective Feb 22, becomes special advisor; remains director until May 2024 meeting.
Board concludes strategic review; unanimously decides to remain independent after receiving but rejecting multiple proposals.
2024 outlook: revenue $380-390M, adj. EBITDA $112-118M, adj. diluted EPS $2.20-2.30; includes two non-core divestitures.

item 1.01 item 5.02 item 1.02 item 2.02 item 7.01 item 9.01

Executive movements

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Role change

Melvin C. Payne

Executive Chairman of the Board

CSV · CARRIAGE SERVICES INC

Effective: 2024-02-22
Filed: February 22, 2024, 6:59 PM ET

on February 22, 2024 (the “Transition Date”), Melvin C. Payne, the Company’s founder and former Chief Executive Officer, will cease to serve as Executive Chairman of the Board of the Company.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CARRIAGE SERVICES INC reported financial results for the fourth quarter and year ended December 31, 2023.

Period: the fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

Carriage Services, Inc. (NYSE: CSV) today announced results for the fourth quarter and year ended December 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Melvin C. Payne changed role as Executive Chairman of the Board at CARRIAGE SERVICES INC.

Action: cease to serve
Role: Executive Chairman of the Board

Exact text from the filing

on February 22, 2024 (the “Transition Date”), Melvin C. Payne, the Company’s founder and former Chief Executive Officer, will cease to serve as Executive Chairman of the Board of the Company.

View on SEC.gov

379 earnings releases filed in the last 30 days. Browse all earnings releases →

CARRIAGE SERVICES INC filing history →

Source: SEC EDGAR

accession 0001213900-24-015900

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