Carriage Services Misses Q2 Revenue, Cuts 2026 Outlook on Lower Mortality
CSV is trading near its 52-week low of $36.39 (14% above the low).
Summary
Carriage Services reported Q2 revenue of $102.9M, missing consensus by $6M, and adjusted EPS of $0.78 vs. $0.82 expected. The company cited a 3.5% drop in at-need funeral volume, driven by lower national mortality trends, as the primary headwind. Preneed programs showed strength—insurance-funded contracts up 21.1% and cemetery preneed sales up 5.0%—but not enough to offset the volume decline. Management lowered full-year 2026 revenue guidance to $435-$445M from $440-$450M, while maintaining EBITDA and EPS targets, signaling confidence in cost controls and acquisition-driven growth. The company also confirmed its 2026 earnings per share midpoint guidance. This follows a challenging Q1 that included a $100M ATM offering and shareholder rejection of board declassification. The stock trades at 11x forward earnings, well below its 14x multiple three months ago, reflecting persistent pressure on the deathcare sector.
At the time of this announcement, CSV was trading at $41.40 on NYSE in the Trade & Services sector, with a market capitalization of approximately $657.1M. The 52-week trading range was $36.39 to $52.10. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.