Carriage Services Earns 59 Cents per Share

Carriage Services (CSV) just posted Q1 earnings of 59 cents per share. CEO Mel Payne said, “We got off to a good start in 2018 by setting numerous historical first quarter performance records.”

Revenue rose 7.7% to $73.4 million, and EBITDA was up 5.8%. The downside is that they’re lowering their guidance. They gave three reasons for the lower guidance; an acquisition that didn’t close in Q4 as expected, rising interest costs on their floating rate debt, and a higher share count related to convertible debt and recent increase in share price.

For the rolling four quarters ending in March 2019, Carriage expects revenue of $274 to $277 million and earnings of $1.80 to $1.85 per share. That’s a decrease of 20 cents per share at both ends. The decrease in the midpoint of the revenue range is just 2.5%.

Posted by on April 24th, 2018 at 5:10 pm


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