Carriage Services Q4 Revenue Rises 8% to $105.5M, Guides 2026 Revenue to $440M-$450M
Carriage Services reported Q4 revenue of $105.5M, up 8% year-on-year, beating estimates by 1.8%, driven by a 6.8% rise in funeral contract volume and a 25.5% surge in preneed cemetery sales. Adjusted EPS was $0.75, missing consensus by 7.2%, and 2026 guidance targets $440M-$450M revenue and $3.35–$3.55 EPS.
1. Q4 Financial Results
Carriage Services generated Q4 revenue of $105.5 million, up 8.0% from a year earlier and surpassing forecasts by 1.8%. Adjusted net income per share was $0.75 versus consensus of $0.81, while adjusted EBITDA reached $32.5 million with a 30.8% margin and operating margin rose to 23.3%.
2. 2026 Guidance
The company projects 2026 total revenue between $440 million and $450 million, with adjusted consolidated EBITDA of $135 million to $140 million and adjusted diluted EPS of $3.35 to $3.55. Forecasted free cash flow targets $40 million to $50 million, assuming $25 million to $30 million in capital expenditures.
3. Growth Drivers and Strategy
Growth in the quarter was driven by a 6.8% increase in funeral operating contract volume and a 25.5% surge in preneed cemetery sales, while financial revenue climbed 17.7% on higher insurance-funded funeral contracts. Strategic acquisitions added over $15 million in annual revenue and helped reduce the leverage ratio to 4.0x.