NYSE$CSV
Carriage Services Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Announced record results for the fourth quarter and full year ended December 31, 2020.
Carriage Services reported record fourth-quarter revenue of $90.1 million, a 26.6% increase compared to the previous year. Adjusted diluted EPS also reached a record $0.57, up 103.6% from Q4 2019. The company's performance was driven by increased funeral and cemetery revenues, as well as financial revenue.
- Record fourth-quarter revenue of $90.1 million, up 26.6% year-over-year.
- Adjusted diluted EPS reached a record $0.57, a 103.6% increase from Q4 2019.
- Total Field EBITDA increased by 44.4% to $41.3 million.
- Net income increased by $5.8 million to $8.4 million, a 225.6% increase.
Headline financials
Revenue & EPS history
Carriage Services · Revenue · Quarterly
$90.1M
Revenue by segment
Carriage Services · $97.5M total across 4 segments · Q2 2023
- Funeral Operating$60.8M—62.4%
- Cemetery Operating$29.1M—29.9%
- Financial$6.29M—6.5%
- Ancillary$1.23M—1.3%
Forward guidance
Company provided an updated Milestone Two Year Scenario that shows significantly higher performance expectations through 2022 compared to the previous third quarter earnings release on October 27, 2020.
Tailwinds
- Continuation of Same Store Funeral market share gains with improvement in our average revenue per contract, particularly cremations.
- Higher growth rates in preneed cemetery property sales beginning in 2021 and accelerating in 2022 at higher Cemetery Field EBITDA Margins.
- Successful integration of the four recent strategic acquisitions leading to improved performance expectations compared to our initial expectations.
- Full impact of our trust fund repositioning strategy resulting in a significant and sustainable increase in Financial Revenue and EBITDA.
- Substantially lower cash interest costs from our planned senior notes refinancing during the second half of 2021 and full year 2022.
Headwinds
- COVID-19 Pandemic impact on business operations
- Fluctuations in interest rates
- Changes in federal income tax laws and regulations and the implementation and interpretation of these laws and regulations by the Internal Revenue Service
- Effects of litigation and burial practice claims
- Consolidation of the funeral and cemetery industry
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 Q4 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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