Carriage Services(US:CSV) Globenewswire·2025-11-05 21:47Company Highlights - Carriage Services, Inc. reported a third-quarter adjusted diluted EPS of $0.75, a 17.2% increase from $0.64 in the previous year [3][7] - The company experienced total operating revenue growth of 5.2% year-over-year, driven by a 21.4% increase in cemetery preneed sales and a 27.2% rise in financial revenue [5][7] - The company expanded its footprint through strategic acquisitions, serving over 2,600 families and generating more than $15 million in annual revenue last year [4][5] Financial Performance - Total revenue for the third quarter of 2025 was $102.7 million, compared to $100.7 million in the same quarter of 2024 [6] - Operating income decreased to $17.5 million from $22.9 million year-over-year, resulting in an operating income margin of 17.0% [6][7] - Net income for the quarter was $6.6 million, down from $9.9 million in the prior year [6][7] Cemetery and Funeral Metrics - Preneed interment rights sold increased to 3,569 from 3,511 year-over-year, with an average price per preneed interment right sold rising to $6,257 from $5,360 [6][8] - Cemetery operating revenue grew by 12.6%, driven by a 4.6% increase in the number of preneed interment rights sold and a 15.1% increase in average price [7][8] - The average revenue per funeral contract increased to $5,651 from $5,540, while the burial rate was 31.5% and the cremation rate was 61.3% [8] Outlook and Strategic Initiatives - The company revised its 2025 outlook, projecting total revenue between $413 million and $417 million, with adjusted diluted EPS expected to be between $3.25 and $3.30 [12] - The company aims to reduce its leverage ratio to 4.1x following the divestiture of non-core assets and strategic acquisitions [7][11] - Carriage Services operates 159 funeral homes and 28 cemeteries across the United States, focusing on delivering premier experiences through innovation and elevated service [15]