Carriage Services reports Q3 adjusted EPS 64c, consensus 42c

Reports Q3 revenue $100.7M, consensus $92.93M. CEO Carlos Quezada , stated, “I am pleased to announce that our growth continues with another strong quarter of performance. Our cemetery sales team achieved a notable increase of 27.1% year-over-year in preneed sales, affirming the continued effectiveness of our cemetery sales growth strategy. Together with an increase of 3.1% in our funeral average revenue per contract, these factors significantly propelled our total revenue, which grew by 11.3% over the same period last year. This marks the third straight quarter of exceeding $100M of revenue, a first for Carriage…This significant revenue boost, along with diligent cost management, contributed to our Adjusted Consolidated EBITDA of $30.7M, growth of 26.7% or $6.5M, and Adjusted Consolidated EBITDA Margin improvement of 373 basis points to 30.5%, up from 26.8% over the same period last year. Additionally, our GAAP diluted earnings per share totaled 63c, marking an increase of 110% or 33c over last year’s 30c. Adjusted diluted EPS also increased 93.9% to 64c, compared to 33c in Q3 of last year. Q3 delivered impressive success, and we are delighted with our progress and performance. The execution of our strategic objectives surpasses our already high expectations, and we look forward to continuing to execute our plan”.