Carriage Services ( (CSV) ) has released its Q4 earnings. Here is a breakdown of the information Carriage Services presented to its investors.
Carriage Services, Inc. is a leading provider of funeral and cemetery services in the United States, known for its strategic focus on preneed sales and operational excellence in the death care industry.
In its latest earnings report, Carriage Services announced that it exceeded its full-year 2024 guidance for adjusted consolidated EBITDA and adjusted earnings per share, achieving the high end of the range for total revenue. The company also issued its guidance for 2025, reflecting continued confidence in its strategic direction.
The company reported a total revenue of $404.2 million for 2024, marking a 5.7% increase from the previous year. This growth was driven by a 26.7% increase in consolidated cemetery preneed sales and a 3.1% rise in funeral average revenue per contract. Despite a 1.4% decline in GAAP net income, adjusted consolidated EBITDA grew by 11.5%, and adjusted diluted EPS increased by 21.0% over the prior year. Additionally, Carriage Services successfully reduced its leverage ratio from 5.1x to 4.3x by paying down $42.1 million of debt.
Looking ahead, Carriage Services has set its 2025 guidance with expectations of $400-$410 million in total revenue, adjusted consolidated EBITDA of $128-$133 million, and adjusted diluted EPS of $3.10-$3.30. The company plans to continue its focus on preneed sales and cost discipline while divesting certain non-core assets.
Overall, Carriage Services remains optimistic about its future prospects, with management expressing confidence in the company’s strategic execution and its ability to build on the momentum achieved in 2024.