Carriage Services, Inc. · NYSE:CSV
Carriage Services — Q3 2025 Earnings Presentation
11 slides from Carriage Services's earnings presentation, Nov 6, 2025
Slide 1: Investor Presentation Update
NOVEMBER 2025 Investor Presentation Update A L L R I G H T S R E S E R V E D
Slide 2: Notice to Investors
Notice to Investors Certain statements made herein 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 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
Slide 3: Our Long-Term Strategic Framework
Our Long-Term Strategic Framework 1 3 2 Disciplined Capital Allocation Purposeful Growth Relentless Improvement • 10 - 20% targeted CAGR • 3.5x - 4.0x long-term • Evolution of legacy in preneed sales, leverage target range systems with Trinity enabling a stronger pre- • Targeted 15 - 20% ROIC • Newl
Slide 4: CSV Q3 2025 Execution Highlights
CSV Q3 2025 Execution Highlights Funeral Cemetery Other ~60% growth in Preneed funeral commissions realized 14% growth in Q3 2025 vs. Closed two acquisitions in in Q3 2025 vs. Q3 2024 Q3 2024 recognized preneed Q3 2025 with revenue of ~$15 property sales driven by strong million in the last ye
Slide 5: Q3 2025 At A Glance
Q3 2025 At A Glance Q3 2025 Company Overview Q3 Financial Highlights YTD Q3 YTD Q3 $ in mm, unless per share amounts 2025 2024 • Ticker: CSV (NYSE) Total Revenue $312.0 $306.5 • Market cap: ~$694 mm(1) NYSE listed • One of two publicly traded funeral and cemetery Total Field EBITDA $139.3 $138.5 ser
Slide 6: Cash Flow YTD Q3 2025 Overview
Cash Flow YTD Q3 2025 Overview $ in 000s Cash flow returned to shareholders (1) (1) Other Investing/Financing primarily includes a one-time vesting of our Good to Great Award, which had a five-year cliff vesting period. A L L R I G H T S R E S E R V E D 6
Slide 7: Long-Term Growth Profile
Long-Term Growth Profile Total Revenue & Adjusted Consolidated EBITDA Margin Adjusted Diluted EPS $ in millions $404 $415 $3.28 $420 $415 $410 $383 $405 $376 $400 $370 $395 39% $3.02 $390 $385 $380 $375 $370 $365 $360 $355 $350 $329 $2.65 $345 $2.61 $340 $335 $330 $325 $320 $315 $310 $305 $300 $274
Slide 8: Appendix
Appendix A L L R I G H T S R E S E R V E D D E P A R T M E N T 8
Slide 9: Appendix: Revised 2025 Outlook
Appendix: Revised 2025 Outlook Revised Full Year 2025 Outlook $ in mm, unless per share amounts Revised 2025 Outlook(1) Total Revenue $413 - $417 Adjusted Consolidated EBITDA(2) $130 - $132 Adjusted Diluted EPS(2) $3.25 - $3.30 Adjusted Free Cash Flow(2)(3) $44 - $48 (1) Includes the expected impact
Slide 10: Appendix: Reconciliation of Non-GAAP measures
Appendix: Reconciliation of Non-GAAP measures(1) Operating Income to Adjusted Consolidated EBITDA Cash Provided by Operating Activities to Adjusted and Adjusted Consolidated EBITDA Margin Free Cash Flow $ in thousands $ in thousands YTD Q3 2025 YTD Q3 2024 YTD Q3 2025 YTD Q3 2024 Operating income $
Slide 11: Appendix: Reconciliation of Non-GAAP measures
Appendix: Reconciliation of Non-GAAP measures(1) Operating Income to Adjusted Consolidated EBITDA and Adjusted Consolidated EBITDA Margin(2) $ in thousands 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Operating income $ 48,648 $ 50,204 $ 48,941 $ 43,307 $ 47,443 $ 57,227 $ 93,660 $ 79,726 $ 80,