CARRIAGE SERVICES Reports Third Quarter FY2023 Results, Ending November 8 2023
November 28, 2023
🌥️Earnings Overview
CARRIAGE SERVICES ($NYSE:CSV) reported their financial results for the third quarter of FY2023 on September 30th 2023 (ending November 8th 2023). Total revenue for the quarter was USD 90.5 million, a 3.4% increase from the same period in the previous year. Unfortunately, net income was USD 4.6 million, a 20.8% decrease in comparison to the prior year.
Stock Price
The company’s stock opened at $23.2 and closed at $22.8, marking a decrease of 1.3% from the previous closing price of $23.1. Despite the decline in stock price, CARRIAGE SERVICES‘ financial performance for the third quarter was promising. CARRIAGE SERVICES achieved these positive results despite the challenges that the pandemic has posed to businesses around the world. The company attributed the strong performance to its continued focus on customer satisfaction and cost-effective operations. Moreover, the company also announced that it had launched several new initiatives during the quarter to improve its customer experience, including a mobile app, an online booking platform, and an enhanced tracking system.
These new initiatives are part of CARRIAGE SERVICES’ strategy to remain competitive in the industry and remain ahead of its competitors. Overall, CARRIAGE SERVICES’ third quarter results demonstrate its commitment to providing its customers with quality services and products at competitive prices. With strong financial performance and new initiatives, CARRIAGE SERVICES is well-positioned to continue growing and expanding its operations in the coming months and years. 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 |
| 377.6 | 29.6 | 8.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carriage Services. More…
| Operations | Investing | Financing |
| 72.83 | -83.17 | 11.2 |
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 |
| 1.26k | 1.09k | 10.76 |
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 |
| 6.7% | 5.6% | 20.6% |
| FCF Margin | ROE | ROA |
| 14.3% | 30.6% | 3.9% |
Analysis
At GoodWhale, we have conducted an analysis of the fundamentals of CARRIAGE SERVICES and classified it according to our Star Chart as a ‘rhino’ company. This means that the company has achieved moderate revenue or earnings growth, making it an attractive option for many investors. CARRIAGE SERVICES has an intermediate health score of 6/10, indicating that it is in a relatively stable financial position with regard to its cashflows and debt. As such, the company may be able to safely ride out any crisis without the risk of bankruptcy. When it comes to CARRIAGE SERVICES’ performance in other areas, such as dividend, profitability, growth, and asset, we would classify it as strong in dividend, profitability, and medium in growth, and weak in asset. This makes it a relatively safe option for investors looking for stability and long-term growth. 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 reported their financial results for the third quarter of FY2023, showing a 3.4% increase in total revenue to USD 90.5 million compared to the prior year. However, net income was USD 4.6 million, a 20.8% decrease from the prior year. Investors should be aware that CARRIAGE SERVICES is experiencing a decline in profits, and further analysis is needed to understand the cause of the dip and its implications for future performance. Additionally, investors should consider the potential of CARRIAGE SERVICES in light of its increasing revenue and other financial metrics.
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