Carriage Services(US:CSV)2025-11-05 22:22Financial Performance - Adjusted diluted EPS for Q3 2025 was $0.75, a 17.2% increase from $0.64 in Q3 2024[3] - Total operating revenue grew 5.2% year-over-year, driven by a 21.4% increase in cemetery preneed sales and a 27.2% increase in financial revenue[5] - Total revenue for Q3 2025 was $102.7 million, compared to $100.7 million in Q3 2024, reflecting a $2.1 million increase[8] - Net income for Q3 2025 decreased to $6.6 million from $9.9 million in Q3 2024, impacted by a $6.2 million increase in net loss on divestitures[8] - Adjusted net income for Q3 2025 was $11,923,000, representing a 17.9% increase from $10,094,000 in Q3 2024[16] - The company reported a net income of $6,570,000 for Q3 2025, down from $9,866,000 in Q3 2024, primarily due to special items[16] - Basic earnings per share for Q3 2025 were $0.42, a decrease of 35.4% compared to $0.65 in Q3 2024[22] - GAAP basic earnings per share for Q3 2025 was $0.42, down from $0.65 in Q3 2024, a decline of 35.4%[41] Revenue and Sales - Cemetery operating revenue increased by 12.6% year-over-year, with a 15.1% rise in the average price of preneed interment rights sold[6] - The average price per preneed interment right sold in Q3 2025 was $6,257, compared to $5,360 in Q3 2024[7] - Total operating revenue for Q3 2025 was $101,341,000, an increase of 5.1% compared to $96,363,000 in Q3 2024[16] - Cemetery operating revenue rose to $35,586,000 in Q3 2025, up 12.6% from $31,604,000 in Q3 2024[16] - Service revenue for Q3 2025 was $44,204 million, a slight decrease of 1.6% compared to $44,916 million in Q3 2024[22] - Total revenue for the nine months ended September 30, 2025, reached $311,958 million, up 1.5% from $306,498 million in the same period of 2024[22] Cash Flow and Expenses - Cash provided by operating activities for Q3 2025 was $24.7 million, up from $20.8 million in Q3 2024[7] - Adjusted free cash flow for the nine months ended September 30, 2025, was $39.3 million, compared to $35.9 million for the same period in 2024[10] - Cash provided by operating activities for the nine months ended September 30, 2025, was $46,568 million, an increase of 8.7% from $42,716 million in 2024[24] - The company incurred acquisition and divestiture expenses of $395,000 in Q3 2025, compared to no expenses in Q3 2024[40] Outlook and Strategic Initiatives - The revised 2025 outlook projects total revenue between $413 million and $417 million, with adjusted diluted EPS expected to be between $3.25 and $3.30[9] - The company anticipates continued growth in revenue and adjusted EBITDA, driven by strategic acquisitions and market expansion efforts[44] Assets and Liabilities - Total assets increased to $1,342,750,000 as of September 30, 2025, compared to $1,279,580,000 at the end of 2024[19] - The total liabilities stood at $1,100,666,000 as of September 30, 2025, up from $1,071,030,000 at the end of 2024[19] EBITDA and Margins - Consolidated EBITDA for the nine months ended September 30, 2025, reached $97,791,000, a significant increase from $84,493,000 in the same period of 2024, reflecting a margin improvement to 31.3%[16] - The company’s adjusted consolidated EBITDA margin improved to 32.1% in Q3 2025, compared to 30.5% in Q3 2024[17] - The company’s financial EBITDA margin was reported at 89.3% for Q3 2025, down from 92.0% in Q3 2024[16] - Adjusted consolidated EBITDA margin for Q3 2025 was 32.1%, up from 30.5% in Q3 2024[39] Investor Guidance - The company advises investors to review the "Risk Factors" section in the Annual Report on Form 10-K for the year ended December 31, 2024, for material factors that could affect actual results[46] - Investors are cautioned against placing undue reliance on forward-looking statements, which are only valid as of the communication date[46] - The company has no obligation to publicly update or revise forward-looking statements unless required by law[46]