Carriage Services Announces Fourth Quarter and Full Year 2024 Results and Issues 2025 Guidance

Company Highlights - Carriage Services, Inc. reported strong financial results for the full year 2024, exceeding expectations for adjusted EBITDA and EPS despite a decline in funeral home revenue in the fourth quarter [3][4] - The company raised its full-year guidance and achieved total revenue of $404.2 million, representing a growth of 5.7$97.7 million, a decrease from $98.8 million in Q4 2023, while total revenue for the year increased to$404.2 million from $382.5 million in 2023 [6][7] - Operating income for Q4 2024 was$21.1 million, down from $23.9 million in Q4 2023, with a net income of$9.9 million compared to $11.6 million in the same period last year [6][7] - Adjusted consolidated EBITDA for the year was$126.2 million, an increase of 11.5% from $113.2 million in 2023 [7][8] Operational Metrics - The company experienced a 26.7$5,524 from $5,471 [8][9] - The leverage ratio improved to 4.3x from 5.1x year-over-year, as the company paid down$42.1 million of debt [7] 2025 Outlook - The company anticipates total revenue for 2025 to be between $400 million and$410 million, with adjusted consolidated EBITDA expected to be between $128 million and$133 million [10] - The guidance reflects expected divestitures of non-core assets, which are projected to reduce revenue and EBITDA by approximately $7.9 million and$2.3 million, respectively [9][10] - The company aims to continue its organic growth initiatives in preneed sales while maintaining cost discipline [9]