Q4 2025 Carriage Services Inc Earnings Call Transcript
Key Points
- Carriage Services Inc (CSV) reported a solid 8% increase in total revenue for the fourth quarter, reaching $105.5 million.
- Funeral operating revenue grew by 9.6% year-over-year, with funeral home operating volume increasing by 6.8%.
- Cemetery operating revenue saw an 18.4% increase, driven by a 25.5% rise in pre-need cemetery sales production.
- Adjusted consolidated EBITDA for the fourth quarter increased by 11%, with a margin expansion of 80 basis points.
- The company successfully reduced its bank leverage ratio to 4 times, aligning with its long-term target.
- An unanticipated employee benefit expense of approximately $1.2 million impacted the fourth quarter results.
- Overhead expenses increased, primarily due to higher incentive pay and IT investments.
- The company experienced a decline in January 2026 volume due to a strong flu season in January 2025.
- The rollout of Project Trinity is behind schedule, although it has become more robust.
- The company faces a tough first-quarter comparison due to strong performance in the previous year.
(Operator Instructions)
Good day and thank you for standing by. Welcome to the Carriage Services 4th quarter 2025 earnings webcast. Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Steve Metzger, President. Please go ahead, sir
Good morning, everyone, and thank you for joining us to discuss our fourth quarter and year-end results for 2025. In addition to myself, on the call this morning from management are Carlos Quesada, Chief Executive Officer and Vice Chairman of the Board of Directors, and John Enright, Senior Vice President and Chief Financial Officer.
On the Carriage Services website, you can find our earnings press release, which was issued yesterday after the market closed. Our press release is intended to supplement our remarks this morning and includes supplemental financial information, including the reconciliation of differences between GAAP and non-GAAP financial
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