Carriage Services Announces Third Quarter 2026 Results, Updates 2026 Guidance and Strategic Acquisitions Timeline
Key Highlights
- ➤2026 revenue guidance cut to $415-$420 million from $435-$445 million
- ➤2026 adjusted EPS guidance reduced to $2.90-$3.05 from $3.35-$3.55
- ➤Third-quarter GAAP diluted EPS rose to $0.56 from $0.41
- ➤Acquisitions exceeding $14 million annual revenue are under contract or letter of intent
- ➤New $300 million credit facility increases committed borrowing capacity by $50 million
Expert Statements
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“We are encouraged by the continued momentum in our funeral business, with same-store funeral contracts increasing 2.3% during the quarter as we close the gap from a slower-than-expected first half.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“Our field teams continue to execute on our key funeral initiatives to drive volume and average revenue per contract, delivering outstanding results, including funeral volume growth and a 1.9% increase in consolidated average revenue per contract.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“Additionally, consolidated insurance-funded preneed funeral contracts sold grew 7.0%, reinforcing our confidence in our funeral operating strategy.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“In our cemetery business, comparable revenue declined 7.8%, primarily driven by lower preneed sales production.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“Our operational review identified opportunities to strengthen fundamental sales disciplines, and since the beginning of the third quarter, we have taken targeted actions to reinforce our sales organization and restore the consistent performance we have delivered for over five years.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“We are encouraged by our early progress, including the introduction of a comprehensive sales performance dashboard and AI-powered tools that enhance visibility, accountability, and proactive management.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“These new tools position us to drive sustainable sales growth and improved cemetery performance over time.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“During the quarter, our financial revenue and Adjusted Consolidated EBITDA were negatively impacted by additional trust taxes associated with the sale of certain Master Limited Partnership (MLP) investments held in our trusts, which were finalized upon receipt of third-quarter tax information.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“We are particularly excited about the momentum in our strategic acquisition pipeline.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“As previously communicated, we anticipated significant activity in the second half of the year, and today we have over $14 million in annual revenue represented by acquisitions under contract and letters of intent, with anticipated closings later this year and in early 2027.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“This progress reinforces our confidence in our disciplined growth strategy and the opportunities ahead.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“Looking forward, our priorities remain clear: sustain our funeral momentum, restore consistent cemetery sales execution, and expand our portfolio through disciplined, high-quality acquisitions.”
Carlos Quezada, Vice Chairman and CEO of Carriage Services
“Guided by our 2030 Vision and The Carriage Way, we remain confident in our people, our strategy, and our ability to deliver sustainable growth, stronger financial performance, and meaningful long-term value for our shareholders.”
HOUSTON, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV) today announced its financial results for the third quarter ended September 30, 2026.
Company Highlights: * GAAP Net Income grew 35.2% and operating income increased 10.8% compared with the prior year quarter; * GAAP diluted EPS of $0.56 compared with $0.41 in the prior year quarter; * Adjusted diluted EPS of $0.59 compared to $0.75 in the prior year quarter; * Consolidated funeral contract volume increased 2.5% and the funeral consolidated average revenue per contract grew 1.9%; * Consolidated insurance-funded preneed funeral contracts sold grew 7.0%; * We are excited to announce we have strategic acquisitions under contract or letter of intent representing more than $14 million in annual revenue, with closings anticipated for later this year and in early 2027; and * Closed on our new $300 million credit facility agreement and increased committed borrowing capacity by $50 million, which represents another important step in strengthening our capital structure and advancing our long-term growth strategy. Carlos Quezada, Vice Chairman and CEO, stated, “We are encouraged by the continued momentum in our funeral business, with same-store funeral contracts increasing 2.3% during the quarter as we close the gap from a slower-than-expected first half. Our field teams continue to execute on our key funeral initiatives to drive volume and average revenue per contract, delivering outstanding results, including funeral volume growth and a 1.9% increase in consolidated average revenue per contract. Additionally, consolidated insurance-funded preneed funeral contracts sold grew 7.0%, reinforcing our confidence in our funeral operating strategy.\
Get started
Create a free account to read the full story.