NYSE$CSV
Carriage Services Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Announced first quarter results, updated 2020 outlook, confirmed 2021/2022 outlook, increased dividend and introduced a new five-year shareholder value creation incentive plan
Carriage Services reported a 12.2% increase in total revenue to $77.5 million for the first quarter ended March 31, 2020. However, the company experienced a net loss of $4.2 million and a decrease in adjusted net income by 10.8% to $6.1 million.
- Total revenue increased by 12.2% to $77.5 million.
- Adjusted free cash flow increased by 30.7% to $12.6 million.
- Net loss decreased by 164.3% to $4.2 million.
- The company reaffirmed its roughly right ranges of performance for 2021 and 2022.
Headline financials
Revenue & EPS history
Carriage Services · Revenue · Quarterly
$77.5M
Revenue by segment
Carriage Services · $74.6M total across 3 segments · Q1 2020
- Funeral Operating$56.6M—75.8%
- Cemetery Operating$13.7M—18.4%
- Financial$4.29M—5.8%
Forward guidance
Carriage Services provided an updated 'roughly right' scenario for the balance of 2020, anticipating a return to normal operations as COVID-19 restrictions ease. The company also reaffirmed its performance outlook for 2021 and 2022.
Tailwinds
- Free Cash Flow for 2020 is expected to be in line with previously published outlook.
- The company's operating model demonstrates strength and flexibility.
- The company anticipates an improved credit profile during the middle to latter half of next year.
- The company expects that they should be able to refinance their high yield notes at a materially lower rate than the current 6.625%.
- The company expects lower cash interest of $8 million to $10 million within a twelve to eighteen month period.
Headwinds
- The short term negative impact of the Coronavirus Crisis on normalized revenue.
- The company experienced significantly lower funeral revenue averages and cemetery preneed property sales in March.
- The result was lower year over year Field EBITDA Margins and Consolidated EBITDA Margins not only in March but for the entire first quarter.
- The company had a net loss of $4,197,000.
- Equity portfolio decreased by $(19,031,000).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.4%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.9%
Avg return
30 days after
46%
30 / 65 earnings
Positive
+25.8%
Q1 2020
Best reaction
-25.6%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.5% | -7.7% | -19.4% | |
| Q4 2025 | +2.3% | +3.4% | +1.2% | |
| Q3 2025 | +2.2% | -2.9% | -2.0% | |
| Q1 2025 | -0.6% | +1.2% | +8.9% | |
| Q4 2024 | -3.6% | -5.8% | -5.7% | |
| Q3 2024 | +14.7% | +15.2% | +24.4% | |
| Q2 2024 | +1.3% | -8.9% | +3.7% | |
| Q1 2024 | +0.3% | +0.6% | +5.1% | |
| Q4 2023 | +1.6% | +0.3% | +4.6% | |
| Q3 2023 | -8.4% | -12.8% | +7.7% | |
| Q2 2023 | -2.9% | -3.8% | -4.4% | |
| Q1 2023 | -7.7% | -6.6% | -7.5% | |
| Q4 2022 | +8.5% | +4.1% | -5.6% | |
| Q3 2022 | -25.6% | -22.4% | -23.1% | |
| Q2 2022 | -15.6% | -13.7% | -14.1% | |
| Q1 2022 | -7.4% | -13.1% | -16.6% | |
| Q4 2021 | -1.0% | -0.6% | +10.9% | |
| Q3 2021 | +13.2% | +14.4% | +19.3% | |
| Q2 2021 | -0.8% | +1.8% | +22.6% | |
| Q1 2021 | +4.7% | +4.9% | +6.3% | |
| Q4 2020 | -2.7% | -1.7% | +4.3% | |
| Q3 2020 | +6.1% | +7.4% | +19.8% | |
| Q2 2020 | +20.0% | +13.9% | +16.0% | |
| Q1 2020 | +25.8% | +20.7% | +25.1% | |
| Q4 2019 | -9.1% | -15.9% | -36.7% | |
| Q3 2019 | +20.7% | +19.5% | +8.0% | |
| Q2 2019 | +14.8% | +15.6% | +9.3% | |
| Q1 2019 | +1.3% | +6.0% | +3.8% | |
| Q4 2018 | +3.3% | +6.2% | -5.5% | |
| Q3 2018 | -20.7% | -16.6% | -9.7% | |
| Q2 2018 | -0.7% | -2.5% | -4.8% | |
| Q1 2018 | -2.3% | -4.9% | -11.4% | |
| Q4 2017 | +2.9% | +8.3% | +11.3% | |
| Q3 2017 | +5.7% | +3.7% | +1.0% | |
| Q2 2017 | -9.6% | -9.0% | -9.0% | |
| Q1 2017 | -5.0% | -4.4% | -8.3% | |
| Q4 2016 | -2.5% | -3.6% | -1.6% | |
| Q3 2016 | -0.5% | -3.0% | +11.2% | |
| Q2 2016 | -1.3% | -1.5% | -3.7% | |
| Q1 2016 | +4.1% | — | — | |
| Q4 2015 | +2.7% | — | — | |
| Q3 2015 | +1.8% | — | — | |
| Q2 2015 | -3.3% | — | — | |
| Q1 2015 | +2.8% | — | — | |
| Q4 2014 | +0.8% | — | — | |
| Q3 2014 | +1.4% | — | — | |
| Q2 2014 | +11.5% | — | — | |
| Q1 2014 | -2.3% | — | — | |
| Q4 2013 | -4.2% | — | — | |
| Q3 2013 | -2.3% | — | — | |
| Q2 2013 | -0.1% | — | — | |
| Q1 2013 | -0.4% | — | — | |
| Q4 2012 | +4.0% | — | — | |
| Q3 2012 | +2.1% | — | — | |
| Q2 2012 | +0.5% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q1 2012 | -1.2% | — | — | |
| Q4 2009 | +1.8% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q3 2010 | -2.7% | — | — | |
| Q3 2011 | -2.7% | — | — | |
| Q2 2010 | -3.1% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q4 2010 | -3.1% | — | — | |
| Q1 2010 | +0.0% | — | — |
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