Carriage Services Announces First Quarter 2026 Results and Confirms Guidance

HOUSTON, May 06, 2026 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) today announced its financial results for the first quarter March 31, 2026. Company Highlights: Consolidated cemetery revenue increased 6.0% over the prior year, primarily driven by a 10.0% increase in consolidated preneed sales production as the consolidated average price per preneed interment rights sold grew 11.0%; Financial revenue grew 15.7% over the prior year, primarily driven by an 8.0% increase in consolidated insurance-funded preneed funeral contracts sold resulting in an increase in general agency commission revenue; Operating income declined $6.3 million, primarily as a result of a prior year gain of $7.8 million on divestitures and the sale of real property; Adjusted Consolidated EBITDA grew 2.4%, or $0.8 million, demonstrating improved profitability despite lower revenue for the quarter versus the prior year; GAAP diluted EPS of $0.84 compared to $1.34 in the prior year quarter, resulting in a decrease of 37.3%, primarily driven by the prior year gain on divestitures and the sale of real property; Adjusted diluted EPS of $0.86 compared to $0.96 in the prior year quarter, resulting in a decrease of 10.4%, as the current quarter includes an approximately $0.08 impact from a higher tax rate; Leverage ratio lowered to 4.0x from 4.2x at the same period last year; and Announces an “at the market” equity offering program to offer and sell its common stock with an aggregate offering price of up to $100.0 million.