While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

Carriage Services (CSV) closed the last trading session at $38.57, gaining 22.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $48.33 indicates a 25.3% upside potential.The average comprises three short-term price targets ranging from a low of $45 to a high of $52, with a standard deviation of $3.51. While the lowest estimate indicates an increase of 16.7% from the current price ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate rev ...

PART I – FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents the unaudited consolidated balance sheet, statements of operations, cash flows, and changes in stockholders' equity with accompanying notes [Unaudited Consolidated Balance Sheet](index=3&type=section&id=Unaudited%20Consolidated%20Balance%20Sheet) Total assets increased to $1.275 billion and stockholders' equity grew to $198.1 million as of September 30, 2024 Consolidated Balance Sheet (in thousands) | | September 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total current assets** | $43,601 | $41,721 | | **Total assets** | **$1,275,418** | **$1,268,052** | | **Total current liabilities** | $60,170 | $51,070 | | **Total liabilities** | **$1,077,289** | **$1,094,992** | | **Total stockholders' equity** | **$198,129** | **$173,060** | [Unaudited Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Operations) Q3 2024 revenue grew to $100.7 million and net income more than doubled to $9.9 million year-over-year Statements of Operations Highlights (in thousands, except per share data) | Metric | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $100,687 | $90,494 | $306,498 | $283,686 | | **Gross Profit** | $35,490 | $27,412 | $109,745 | $89,669 | | **Operating Income** | $22,897 | $15,686 | $60,743 | $57,058 | | **Net Income** | $9,866 | $4,645 | $23,098 | $21,775 | | **Diluted EPS** | $0.63 | $0.30 | $1.48 | $1.39 | [Unaudited Consolidated Statements of Cash Flows](index=5&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Cash%20Flows) Net operating cash flow was $42.7 million for the first nine months of 2024, a decrease from the prior year Cash Flow Summary (in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $42,716 | $61,849 | | **Net cash provided by (used in) investing activities** | $708 | $(53,385) | | **Net cash used in financing activities** | $(43,687) | $(7,959) | | **Net (decrease) increase in cash** | $(263) | $505 | | **Cash at end of period** | $1,260 | $1,675 | [Condensed Notes to Consolidated Financial Statements](index=8&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) Details key accounting policies, segment performance, impairment tests, divestitures, and debt structure - The company operates 162 funeral homes and 31 cemeteries, with operations split into **Funeral Home (65% of revenue)** and **Cemetery (35% of revenue)** segments[17](index=17&type=chunk) - Annual goodwill impairment tests in 2024 and 2023 **resulted in no impairment**[25](index=25&type=chunk) - The company recorded tradename impairments of **$0.6 million** and $0.2 million during the nine months ended September 30, 2024 and 2023, respectively[27](index=27&type=chunk) - During the first nine months of 2024, the company sold six funeral homes and one cemetery for **$10.9 million**[40](index=40&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=38&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Analyzes financial performance, liquidity, capital resources, and operational results by segment [Overview and Company Developments](index=38&type=section&id=Overview%20and%20Company%20Developments) Highlights the recent credit facility amendment, stabilization of costs, and lower death volumes - The company amended its Credit Facility on July 31, 2024, **extending maturity to 2029** and establishing Term SOFR as the benchmark rate[140](index=140&type=chunk) - In Q3 2024, the company benefited from **stabilizing inflationary costs** and lower variable interest rates on its Credit Facility[141](index=141&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) Details sources of liquidity, cash flow changes, and available credit facility capacity Cash Flow Summary (in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $42,716 | $61,849 | | **Net cash provided by (used in) investing activities** | $708 | $(53,385) | | **Net cash used in financing activities** | $(43,687) | $(7,959) | | **Cash at end of the period** | $1,260 | $1,675 | - The **$19.1 million decrease in operating cash flow** for the nine months ended Sep 30, 2024, is primarily due to non-recurring events in 2023[146](index=146&type=chunk)[147](index=147&type=chunk) - As of September 30, 2024, the company had **$107.4 million of availability** under its Credit Facility[159](index=159&type=chunk) [Results of Operations](index=45&type=section&id=Results%20of%20Operations) Q3 2024 revenue increased by $10.2 million YoY, driven by strong cemetery preneed sales Financial Highlights (in thousands, except volumes and averages) | Metric | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $100,687 | $90,494 | $306,498 | $283,686 | | **Gross Profit** | $35,490 | $27,412 | $109,745 | $89,669 | | **Net Income** | $9,866 | $4,645 | $23,098 | $21,775 | | **Funeral contracts** | 10,713 | 11,058 | 33,483 | 34,904 | | **Preneed interment rights sold** | 3,511 | 2,785 | 11,127 | 8,680 | - Funeral home revenue increased by **$0.8 million** in Q3 2024, as a higher average contract price offset lower volume[176](index=176&type=chunk) - Cemetery revenue increased by **$8.7 million** in Q3 2024, driven by a **26.1% increase** in preneed interment rights sold[180](index=180&type=chunk) - G&A expenses for the nine-month period increased by **$15.4 million**, driven by one-time executive termination and advisory fees[184](index=184&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Outlines primary market risks from interest rates on its credit facility and trust investments - A **100 basis point change** in the borrowing rate on the $140.0 million outstanding Credit Facility balance would impact pre-tax income by **$1.4 million**[193](index=193&type=chunk) - A **0.25% change in interest rates** is estimated to cause an approximate **0.86% change** in the value of trust fund securities[193](index=193&type=chunk) - The **4.25% Senior Notes are fixed-rate**, mitigating interest cost volatility from market rate changes[193](index=193&type=chunk) [Item 4. Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2024 - Management concluded that **disclosure controls and procedures are effective** as of the end of the reporting period[194](index=194&type=chunk) - **No material changes** to internal control over financial reporting occurred during the quarter[195](index=195&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=53&type=section&id=Item%201.%20Legal%20Proceedings) Discloses a new wage and hour class action lawsuit filed against the company on July 29, 2024 - A new wage and hour class action lawsuit, **Denning v. Carriage Services, Inc.**, was filed on July 29, 2024[197](index=197&type=chunk) [Item 1A. Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) Confirms no material changes to risk factors from the most recent Annual Report on Form 10-K - There have been **no material changes** to the risk factors previously disclosed in the 2023 Annual Report[198](index=198&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Reports no share repurchase activity during Q3 2024, with $48.9 million remaining authorized Share Repurchase Activity for Q3 2024 | Period | Total Number of Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | July 2024 | — | $ — | | August 2024 | — | $ — | | September 2024 | — | $ — | | **Total for quarter** | **—** | **N/A** | - Approximately **$48.9 million remains authorized** for future repurchases under the existing program[199](index=199&type=chunk) [Item 5. Other Information](index=53&type=section&id=Item%205.%20Other%20Information) States that no directors or officers adopted or terminated Rule 10b5-1 trading plans in Q3 2024 - No director or officer adopted or terminated any **Rule 10b5-1 or non-Rule 10b5-1 trading arrangements** during the quarter[201](index=201&type=chunk)

Carriage Services, Inc. (NYSE:CSV) Q3 2024 Earnings Call October 31, 2024 10:30 AM ET Company Participants Steve Metzger - President Carlos Quezada - Chief Executive Officer and Vice Chairman Kathy Shanley - Chief Accounting Officer Conference Call Participants Alex Paris - Barrington Research John Franzreb - Sidoti & Company Liam Burke - B. Riley George Kelly - ROTH Capital Partners Operator Good day and thank you for standing by. Welcome to the Carriage Services’ Third Quarter 2024 Earnings Conference Cal ...

Carriage Services (CSV) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 42.22%. A quarter ago, it was expected that this provider of funeral and cemetary services and products would post earnings of $0.53 per share when it actually produced earnings of $0.63, delivering a surprise of ...

Carriage Services Announces Strong Third Quarter 2024 Results and Increases Full-Year 2024 Outlook Conference call on Thursday, October 31, 2024 at 9:30 a.m. central time HOUSTON - October 30, 2024 - (GLOBE NEWSWIRE) Carriage Services, Inc. (NYSE: CSV) today announced its financial results for the third quarter ended September 30, 2024. Company Highlights: • A 27.1% increase in consolidated cemetery preneed sales, and an increase of 3.1% in consolidated funeral average revenue per contract, helped drive rev ...

We wrote about Carriage Services , Inc. (NYSE: CSV ) in April of this year, stating that the stock was not cheap enough to justify balance-sheet concerns. Although we pointed to Carriage's significant debt load and elevated goodwill on theIndividual investor with a keen interest in deriving income from investment setups. We do this by buying undervalued profitable stocks with strong balance sheets & minimal debt. Furthermore, when the opportunity arises, we like to write calls against our positions to bring ...

HOUSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) today announced plans to release 2024 third quarter results on Wednesday, October 30, 2024 after the market closes. In conjunction with the release, Carriage Services has scheduled a conference call, which will be broadcast live over the Internet on Thursday, October 31, 2024 at 9:30 a.m. central time. What: Carriage Services Third Quarter 2024 Earnings Conference Call When: Thursday, October 31, 2024 – 9:30 a.m. central time How ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate re ...