secwatch.observer — SEC 8-K summary
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Issuer:     CARRIAGE SERVICES INC (CSV)
CIK:        0001016281
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001213900-24-015900
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.02, 1.02, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1016281/000121390024015900/0001213900-24-015900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1016281/000121390024015900/ea0200435-8k_carriage.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-015900

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer