Carriage Services Q2 revenue misses estimates on lower national mortality trend
CSV•Key quarterly figures and analyst view
| Metric | Actual | Consensus |
|---|---|---|
| Q2 Revenue | $102.90 million | $108.91 million |
| Q2 Adjusted EPS | $0.78 | $0.82 |
| Q2 EPS | $0.77 | |
| Q2 Net Income | $12.30 million | |
| Q2 Adjusted EBITDA | $33.30 million | $33.20 million |
| Q2 Adjusted EBITDA Margin | 32.30% |
The current average analyst rating on the shares is buy, with five strong buy or buy ratings, no hold ratings, and no sell or strong sell ratings.
Wall Street's median 12-month price target is $60.00, about 48.1% above the August 4 closing price of $40.51.
Lower at-need volume offset by preneed growth
The company said lower at-need funeral volume, driven by lower national mortality trends, weighed on results.
That was partly offset by growth in insurance-funded preneed funeral contracts, up 21.1%, and cemetery preneed sales, up 5.0%.
Carriage Services also said average revenue per funeral contract rose 4.7%, and average price of a preneed interment right sold rose 17.3%.
Quarterly results miss revenue and EPS estimates
U.S. funeral and cemetery operator Carriage Services said Q2 revenue rose 0.8% year over year, missing analyst expectations.
