UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission File Number: 1-11961 3040 Post Oak Boulevard, Suite 300 Houston, Texas, 77056 (Address of principal executive offices) (7 ...

Carriage Services, Inc. (NYSE:CSV) Q2 2023 Results Conference Call August 3, 2023 10:30 AM ET Company Participants Steven Metzger - President Mel Payne - Executive Chairman of the Board of Directors Carlos Quezada - Chief Executive Officer and Vice Chairman of the Board of Directors Kian Granmayeh - Executive Vice President and Chief Financial Officer Conference Call Participants Alex Paris - Barrington Research John Franzreb - Sidoti & Company George Kelly - ROTH MKM Operator Good day and thank you for sta ...

Carriage Services, Inc. (NYSE:CSV) Q1 2023 Earnings Conference Call May 4, 2023 10:30 AM ET Company Participants Steve Metzger - Executive Vice President, Chief Administrative Officer & General Counsel and Secretary Mel Payne - Chairman & Chief Executive Officer Carlos Quezada - President & Chief Operating Officer Kian Granmayeh - Executive Vice President & Chief Financial Officer Conference Call Participants Alex Paris - Barrington Research Liam Burke - B. Riley Financial. JP Wollam - ROTH MKM Operator Go ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 (Exact name of registrant as specified in its charter) Delaware 76-0423828 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 3040 Post Oak Boulevard, Suite 300 Houston, Texas, 77056 (Address of principal executive offices) (713) 332-8 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended, December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to _____________ Commission file number: 1-11961 ________________________________________________ CARRIAGE SERVICES, INC. (Exact name of registrant as specifie ...

Financial Data and Key Metrics Changes - For Q4 2022, adjusted diluted EPS was $0.64, a decrease of $0.14 per share compared to the previous year, while full year adjusted diluted EPS was $2.61, down $0.41 per share [66] - Total revenue for Q4 2022 was $93.9 million, a decrease of 2.1% from the previous year, and for the full year, total revenue reached $370.2 million, a decrease of 1.5% [82] - Net income for the year was $41.4 million, representing a 24.8% increase over the prior year, with a compounded annual growth rate of 41.7% from the 2019 base year [83] Business Line Data and Key Metrics Changes - Funeral operating revenue for Q4 was $64 million, with a slight decrease of 1.4%, while the number of funeral contracts decreased by 5% to 11,811 contracts [66] - Cemetery operating revenue for Q4 was $23.2 million, an increase of 3.2%, with a compounded annual growth rate of 22.2% since 2019 [75] Market Data and Key Metrics Changes - The company reported a decrease in COVID-related contracts, with 1.9% in Q4 2022 compared to 13.4% in the previous year, indicating a significant normalization in the market [82] - The company expects preneed cemetery sales to grow above 2022 levels by low double digits [75] Company Strategy and Development Direction - The company is focused on digital transformation through the Trinity platform, aimed at enhancing customer engagement and operational efficiency [4][68] - The strategy includes a disciplined approach to capital allocation, prioritizing debt reduction while maintaining investment in cemetery inventory [51][67] - The company aims to integrate recent acquisitions effectively to realize their potential and drive growth [85] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving normalized performance post-COVID, with expectations for Q1 2023 to be the last challenging comparable period [67] - The company anticipates total revenue for 2023 in the range of $375 million to $385 million, projecting year-over-year growth in adjusted consolidated EBITDA [93] Other Important Information - The company plans to maintain a leverage ratio of around 4.7 times net debt-to-EBITDA by the end of 2023, focusing on debt reduction in the following year [94] - The new preneed funeral strategy aims for a 30% to 40% increase in insurance sales within the first year of launch [88] Q&A Session Summary Question: Progress on the direct cemetery sales team - Management acknowledged ongoing efforts to enhance the sales team and expressed optimism about future performance [13] Question: Changes to 2024 goals - Management confirmed commitment to 2024 goals, aligning them closely with 2023 expectations [28] Question: Specifics on tech initiatives and revenue opportunities - Management detailed the Trinity platform's potential to enhance customer experiences and drive additional revenue through improved operational efficiencies [31][33] Question: CapEx plans for the year - Management indicated a target for CapEx at $20 million, focusing on maintaining a balance between growth and maintenance investments while prioritizing debt reduction [51] Question: Same-store numbers reporting - Management explained the decision to adjust the reporting of same-store numbers to align with industry standards and provide a fair comparison [56]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $.01 per share CSV New York Stock Exchange FORM10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ ...

Carriage Services, Inc. (NYSE:CSV) Q3 2022 Earnings Conference Call October 27, 2022 10:30 AM ET Company Participants Steven Metzger - Executive Vice President, Secretary, Chief Administrative Officer and General Counsel Mel Payne - Chairman of the Board and Chief Executive Officer Carlos Quezada - President and Chief Operating Officer Ben Brink - Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Alex Paris - Barrington Research Liam Burke - B. Riley George Kelly - ...

Investor Presentation Honesty | Integrity | Quality in All That We Do September 2022 Cautionary Statement on Forward Looking Statements and Disclosure of Non-GAAP Performance Measures Certain statements made here in or else whereby, or on behalf of, the Company that are not historical facts are intended to be forward‐looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended, and Section 21-E of the Securities Exchange Act of 1934, as amended. These statements are based ...

PART I – FINANCIAL INFORMATION [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 [Unaudited Consolidated Balance Sheet](index=3&type=section&id=Unaudited%20Consolidated%20Balance%20Sheet) Total assets decreased to $1.15 billion, driven by lower trust investment values and reduced liabilities Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2021 | June 30, 2022 | Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **$1,178,631** | **$1,151,423** | **($27,208)** | | Total Current Assets | $40,212 | $36,962 | ($3,250) | | Goodwill | $391,972 | $391,071 | ($901) | | **Total Liabilities** | **$1,050,616** | **$1,028,579** | **($22,037)** | | Total Current Liabilities | $60,787 | $42,831 | ($17,956) | | Credit Facility | $153,857 | $173,501 | $19,644 | | **Total Stockholders' Equity** | **$128,015** | **$122,844** | **($5,171)** | [Unaudited Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Operations) Net income improved to $10.9 million in Q2 2022 from a prior-year loss, despite a modest revenue increase Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2021 | Q2 2022 | YTD 2021 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | **$88,277** | **$90,600** | **$184,914** | **$188,761** | | Gross Profit | $28,927 | $27,712 | $63,988 | $62,190 | | Operating Income | $20,924 | $19,725 | $47,170 | $44,876 | | **Net Income (Loss)** | **($6,167)** | **$10,899** | **$6,766** | **$27,301** | | Diluted EPS | ($0.33) | $0.69 | $0.37 | $1.70 | [Unaudited Consolidated Statements of Cash Flows](index=5&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased to $30.2 million YTD, with significant cash used for share repurchases Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2021 | 2022 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $41,441 | $30,177 | | Net Cash Used in Investing Activities | ($7,944) | ($10,182) | | Net Cash Used in Financing Activities | ($32,893) | ($20,085) | | **Net (Decrease) in Cash** | **$604** | **($90)** | [Unaudited Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity declined by $5.2 million YTD, primarily due to treasury stock purchases - For the six months ended June 30, 2022, total stockholders' equity decreased by **$5.2 million**, with key drivers including net income of **$27.3 million** offset by **$34.2 million** in treasury stock acquisitions and **$3.5 million** in dividend payments[27](index=27&type=chunk) [Condensed Notes to Consolidated Financial Statements](index=8&type=section&id=Condensed%20Notes%20to%20Consolidated%20Financial%20Statements) Provides details on accounting policies, segment reporting, debt, leases, and equity transactions - The company operates in two segments: Funeral Home Operations (**approx. 70% of revenue**) and Cemetery Operations (**approx. 30% of revenue**), operating 167 funeral homes and 31 cemeteries[30](index=30&type=chunk) - On May 27, 2022, the company amended its Credit Facility, increasing the revolving credit commitment from **$200 million to $250 million** and replacing LIBOR with BSBY as a benchmark rate[99](index=99&type=chunk) - The company settled the Chinchilla v. Carriage Services, Inc. class action lawsuit and accrued **$1.3 million** for the final settlement and associated legal fees as of June 30, 2022[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=39&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Analyzes financial performance, segment results, liquidity, and capital allocation strategies - The company's business strategy is built on three core models: the Standards Operating Model, the 4E Leadership Model, and the Strategic Acquisition Model, which guide operations, leadership, and growth[153](index=153&type=chunk) - Funeral contract volumes are normalizing to pre-COVID-19 levels at **higher average revenues**, while modest cost increases from inflation are noted[148](index=148&type=chunk)[149](index=149&type=chunk) Financial Highlights (Three Months Ended June 30) | Metric | 2021 | 2022 | % Change | | :--- | :--- | :--- | :--- | | Revenue | $88,277 | $90,600 | 2.6% | | Funeral contracts | 10,842 | 11,006 | 1.5% | | Avg. revenue per funeral contract | $5,385 | $5,493 | 2.0% | | Gross profit | $28,927 | $27,712 | -4.2% | | Net income (loss) | ($6,167) | $10,899 | N/A | [Liquidity and Capital Resources](index=42&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) Primary liquidity sources are cash from operations and a $250 million credit facility - Primary sources of liquidity are cash from operations and the Credit Facility, with **$72.5 million** available as of June 30, 2022[158](index=158&type=chunk) - The Board authorized an additional **$75.0 million** for the share repurchase program; in the first six months of 2022, the company repurchased 695,496 shares for **$34.2 million**[125](index=125&type=chunk)[126](index=126&type=chunk) Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2021 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $41,441 | $30,177 | | Net cash used in investing activities | ($7,944) | ($10,182) | | Net cash used in financing activities | ($32,893) | ($20,085) | [Results of Operations](index=50&type=section&id=RESULTS%20OF%20OPERATIONS) Funeral Home segment profit grew while Cemetery segment profit declined due to higher expenses Funeral Home Segment Performance (Six Months Ended June 30, in thousands) | Metric | 2021 | 2022 | | :--- | :--- | :--- | | Total Revenue | $131,606 | $136,293 | | Operating Profit | $57,090 | $57,887 | | Same Store Contract Volume | 20,516 | 21,068 | Cemetery Segment Performance (Six Months Ended June 30, in thousands) | Metric | 2021 | 2022 | | :--- | :--- | :--- | | Total Revenue | $53,308 | $52,468 | | Operating Profit | $28,711 | $26,202 | | Same Store Preneed Revenue | $19,134 | $19,201 | - General and administrative expenses increased by **$1.4 million** for the six months ended June 30, 2022, due to investments in marketing, a new CIO, and technology costs[205](index=205&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=58&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risks include interest rate changes on its credit facility and trust fund investment values - The company is primarily exposed to interest rate risk on its Credit Facility and market risk on the investments held in its funeral and cemetery trust funds[210](index=210&type=chunk) - A hypothetical **100 basis point** change in the borrowing rate on the Credit Facility would result in a **$1.7 million** change in income before taxes[212](index=212&type=chunk) - The **$400 million** Senior Notes have a fixed rate of **4.25%**, with a fair value of **$327.7 million** at June 30, 2022, below its carrying value of $394.9 million[212](index=212&type=chunk) [Controls and Procedures](index=59&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022 - Management, including the principal executive and financial officers, concluded that disclosure controls and procedures were **effective** as of June 30, 2022[213](index=213&type=chunk) - There were **no material changes** to the company's internal control over financial reporting during the second quarter of 2022[214](index=214&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=60&type=section&id=Item%201.%20Legal%20Proceedings) Reports the settlement of the Chinchilla v. Carriage Services, Inc. class action lawsuit - The company is party to various legal proceedings that arise in the ordinary course of business, which are not expected to have a **material adverse effect** on its financial statements[217](index=217&type=chunk) - The Chinchilla v. Carriage Services, Inc. class action was settled, and the company accrued **$1.3 million** for the settlement and legal fees[112](index=112&type=chunk) [Risk Factors](index=60&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor was added to address the potential adverse effects of inflation on costs and revenue - A new risk factor was added to address the potential adverse effects of **inflation** on the business[218](index=218&type=chunk) - Inflation may **increase the company's cost structure** and **reduce consumer discretionary spending**, potentially affecting liquidity, financial condition, and results of operations[219](index=219&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=61&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details the repurchase of 205,496 shares in Q2 2022, with $48.9 million remaining authorized Share Repurchases (Q2 2022) | Period | Total Shares Purchased | | :--- | :--- | | April 2022 | 0 | | May 2022 | 127,639 | | June 2022 | 77,857 | | **Total** | **205,496** | - As of June 30, 2022, **$48.9 million** remained authorized for purchase under the company's share repurchase program[221](index=221&type=chunk) [Other Items (3-6)](index=61&type=section&id=Other%20Items) Confirms no defaults, mine safety disclosures, or other information to report for Items 3-5 - Item 3 (Defaults Upon Senior Securities), Item 4 (Mine Safety Disclosures), and Item 5 (Other Information) are all reported as **'Not applicable'**[222](index=222&type=chunk)[223](index=223&type=chunk)[224](index=224&type=chunk) - Item 6 (Exhibits) refers to the list of exhibits filed with the Form 10-Q, including certifications and XBRL data[225](index=225&type=chunk)