CARRIAGE SERVICES Reports Second Quarter Earnings for FY2023
August 6, 2023
🌥️Earnings Overview
CARRIAGE SERVICES ($NYSE:CSV)’ earnings for the second quarter of FY2023, ending June 30 2023, reported total revenue of USD 97.7 million, a 7.8% increase from the same quarter in the previous year. However, net income decreased by 23.9% to USD 8.3 million.
Price History
The stock opened at 31.9 and closed at the same price, marking a 1.2% decrease from its previous closing price of 32.3. CARRIAGE SERVICES also highlighted that their customer base is expanding, with more people utilizing their services for transportation and delivery. They also reported an increase in the number of orders placed through their website and mobile app, which has been instrumental in driving growth. The company is confident that their focus on innovation and customer service will allow them to continue to expand their market share. All indications are that the company is well-positioned to capitalize on the growing demand for transportation and delivery services, and continue to provide value to their customers. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carriage Services. More…
| Total Revenues | Net Income | Net Margin |
| 374.61 | 31.2 | 8.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carriage Services. More…
| Operations | Investing | Financing |
| 70.03 | -92.2 | 22.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carriage Services. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.24k | 1.09k | 10.46 |
Key Ratios Snapshot
Some of the financial key ratios for Carriage Services are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.6% | 10.5% | 20.5% |
| FCF Margin | ROE | ROA |
| 12.9% | 31.7% | 3.9% |
Analysis
At GoodWhale, we have conducted a thorough analysis of CARRIAGE SERVICES‘s fundamentals. After careful consideration, our assessment is that CARRIAGE SERVICES is a medium risk investment. This is based on our Risk Rating, which assesses both the financial and business aspects of the company. We have also identified two risk warnings in CARRIAGE SERVICES’s income sheet and balance sheet. Both have the potential to impact the financial performance of the company in the future. If you would like to learn more about these warnings, please register with us to gain access to our detailed report. More…
Peers
Carriage Services Inc. is a leading provider of funeral and cemetery services and products in the United States. Carriage operates through two segments: Funeral Home Operations and Cemetery Operations. The company offers a range of services, including traditional funerals, cremations, memorial services, advance funeral planning, and other related services. Carriage also owns and operates a number of cemeteries. The company’s competitors include StoneMor Inc, Frontdoor Inc, and E-Home Household Service Holdings Ltd.
– StoneMor Inc ($NYSE:STON)
The market cap for StoneMor Inc. as of 2022 is 409.7M. The company’s return on equity is 5.44%. StoneMor Inc. is a provider of deathcare products and services in the United States and Puerto Rico. The company operates through two segments, Funeral Homes and Cemeteries.
– Frontdoor Inc ($NASDAQ:FTDR)
Frontdoor Inc is a provider of home service plans. The company operates in the United States and offers home service plans that cover repair and replacement of systems and appliances in the home. The company was founded in 2006 and is headquartered in Memphis, Tennessee.
– E-Home Household Service Holdings Ltd ($NASDAQ:EJH)
E-Home Household Service Holdings Ltd is a domestic services company in China. It offers a range of services including cleaning, laundry, and grocery delivery. The company has a market cap of 7.57M as of 2022 and a Return on Equity of -1.18%.
Summary
CARRIAGE SERVICES has reported their earnings for Q2 of FY2023, showing an increase in total revenue of 7.8% to USD 97.7 million compared to the same quarter last year. Unfortunately, this was not enough to offset a drop in net income of 23.9% to USD 8.3 million. Investors should consider this decrease in profitability when deciding to invest in CARRIAGE SERVICES and further research the company’s financials to gain a better understanding of the performance and potential opportunities for investment.
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