Q3 2025 Carriage Services Inc Earnings Call Transcript
Key Points
- Total operating revenue for the quarter grew to $101.3 million, an increase of 5.2% over the same period last year.
- Preneed cemetery sales saw an impressive 21.4% year-over-year increase.
- General agency commission revenue tied to insurance-funded prearranged funeral sales grew to $2.6 million, up 61% from last year's third quarter.
- Adjusted consolidated EBITDA grew to $33 million, up $2.2 million or 7.3% versus last year, with an adjusted consolidated EBITDA margin expansion of 160 basis points.
- The company successfully completed the sale of several non-core assets, reallocating proceeds to pay down debt and invest in strategic acquisitions.
- Funeral operating revenue was down $753,000, or 1.3%, primarily driven by a 2.1% reduction in funeral volume.
- The summer months of July and August produced lower volumes than expected, impacting overall performance.
- GAAP EPS in the third quarter was $0.41 compared to $0.63 in the third quarter of 2024, negatively impacted by a loss on divestitures and impairment of long-lived assets.
- Net cash outflow from acquisitions, divestitures, and capital expenditures for the quarter amounted to $44.7 million.
- The leverage ratio, although improved, remains relatively high at 4.1 times.
Good day and thank you for standing by. My name is Argi, and I will be your conference operator today. And welcome to the Carriage Services 3rd quarter 2025 earnings conference call. 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 3rd quarter results. 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, 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 measures.
Today's call will begin
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