Carriage Services Announces Capital Allocation Framework and Terminates $100 Million At-the-Market Equity Program
Key Highlights
- ➤Carriage Services (CSV) terminates $100 million ATM equity program effective October 4, 2026
- ➤New revolving credit facility increases capacity to $300 million from $250 million
- ➤Targeted leverage ratio lowered to 3.0x–3.5% from 3.5x–4.0x
- ➤Carriage plans to prioritize core investment, debt reduction, selective acquisitions and share repurchases
- ➤$400 million of 4.25% Senior Notes mature in May 2029
Expert Statements
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“Our responsibility is not simply to grow Carriage. It is to create sustainable, long-term value on a per-share basis.”
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“With the completion of our new credit facility, we have strengthened our liquidity and positioned Carriage to operate with greater financial flexibility. After listening to our shareholders’ concerns and evaluating our current valuation, free-cash-flow outlook and expected capital requirements, we concluded that maintaining the ATM program was not in the best interests of our shareholders.”
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“We do not believe issuing equity at current valuation levels appropriately reflects Carriage’s intrinsic value or our long-term earnings potential.”
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“The team at Carriage focuses on connecting intention with execution.”
Carlos Quezada, Vice Chairman and Chief Executive Officer of Carriage Services
“We will remain flexible and intentional in allocating capital. Our objective is not growth for its own sake, nor is it simply debt reduction or share repurchases. Our objective is to deploy every dollar where we believe it can create the greatest sustainable long-term value per share, while maintaining the financial strength necessary to execute on our 2030 Vision.”
HOUSTON, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) (“Carriage” or the “Company”) announced today a comprehensive capital allocation framework designed to enhance long-term shareholder value per share, strengthen the Company’s financial position and support the execution of its 2030 Vision.
As part of the framework, Carriage is terminating its existing $100 million at-the-market equity offering (“ATM”) program, effective October 4, 2026.
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