Carriage Services Announces Second Quarter 2026 Results and Confirms 2026 Earnings Per Share Midpoint Guidance

About this update from Carriage Services, Inc.

HOUSTON, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) today announced its financial results for the second quarter June 30, 2026.Company Highlights:Consolidated cemetery preneed sales production increased 5.0%;Consolidated average price per preneed interment right sold grew 17.3%;Consolidated insurance-funded preneed funeral contracts sold grew 21.1%;Funeral consolidated average revenue per contract grew 4.7%;Financial revenue grew 14.0% compared with the prior year quarter;GAAP Net Income grew 4.5% and operating income remained flat compared with the prior year quarter;Adjusted Consolidated EBITDA grew by 3.1% and adjusted consolidated EBITDA margin expanded 70 basis points to 32.3%;GAAP diluted EPS of $0.77 compared with $0.74 in the prior year quarter;Adjusted diluted EPS of $0.78 compared to $0.74 in the prior year quarter; andCompleted the strategic acquisition of one funeral home while maintaining our leverage ratio at 4.0x.Carlos Quezada, Vice Chairman and CEO, stated, "We are pleased with our second-quarter performance. Against the backdrop of lower national mortality trends that emerged earlier this year, resulting in a 3.5% decline in our at-need volume compared with the second quarter of 2025, we delivered strong financial results. Comparable average revenue per contract increased 3.7% in funeral homes and 17.9% in preneed cemetery average revenue per interment, while total financial revenue grew 14.0%. Another positive during the second quarter was the continued growth in our preneed programs, a key driver of our long-term growth strategy, highlighted by 21.1% growth in insurance-funded preneed funeral contracts and 5.0% growth in consolidated cemetery preneed sales production. These accomplishments more than offset the volume impact, driving revenue to $102.9 million, an increase of 0.8% year over year. Disciplined cost management drove adjusted consolidated EBITDA of $32.3 million, up $1.0 million, or 3.1%, from the prior year period. Adjusted consolidated EBITDA margin expanded 70 basis points to 32.3%, reflecting the operating leverage created through disciplined execution. We are in advanced conversations with a number of owners of premier businesses about joining the Carriage Family, and as mentioned on our last call, we expect more activity around closings over the next two quarters and into 2027. We remain exci...

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