CSV earnings analysis
What we found in CSV's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
For Q1 2026, Carriage Services, Inc. posted revenues of $106.1 million, falling short of the $111.3 million forecast and showing a slight decline from $107.1 million in Q1 2025. Net income dropped to $13.5 million from $20.9 million in the prior year, correlating with a notable 37.3% decline in EPS to $0.86, down from $1.34. While cemetery operations and preneed services saw some growth, overall performance was affected by divested revenue and operational challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Declines
- Q1 2026 revenue at $106.1M, down 0.9% from $107.1M YoY.
- EPS Decline
- Diluted EPS decreased by 35.5% to $0.86 from $1.34 in the prior year.
- Cemetery Segment Growth
- Cemetery operations revenue increased by 6.0%, driven by higher interment rights prices.
- Operating Cash Flow Increases
- Operating cash flow grew to $14.9M compared to $13.8M YoY.
- Lower Financing Activities Outflow
- Net cash used in financing activities decreased to $9.8M from $25.8M YoY.
- Positive Preneed Insurance Growth
- Preneed insurance contracts sold increased by 8.0% to 2,927 contracts.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant EPS Decline
- EPS of $0.86 represents a 37.3% drop from $1.34 last year.
- Decreased Revenue from Divestitures
- Divested revenues significantly impacted total revenue negatively.
- Increased Operating Expenses
- General, administrative expenses rose by $1.0M, impacting profit margins.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.86
- Gross margin
- 36.4%
- Operating margin
- 19.3%
- Segment
- Funeral Home Operations: $71.7M
- Segment
- Cemetery Operations: $34.4M
What they said about what is next.
The company maintains its 2026 revenue guidance of $440M-$450M and EPS guidance of $3.35-$3.55.
The filing reads worse than the one before it.
What came before.
- 10-K · February 26, 2026
- Carriage Services positions itself as a market leader in U.S. funeral and cemetery services with a two-segment model (Funeral Homes ~65% / Cemeteries ~35%) and a strategy centered on Disciplined Capital Allocation,…
- 10-Q · November 6, 2025
- Carriage Services reported Q3 2025 revenue of $102.742 million, up from $101 million in Q3 2024, reflecting growth driven primarily by better performance in service and merchandise revenues. The diluted EPS was reported…
- 10-Q · August 7, 2025
- Carriage Services, Inc. delivered Q2 2025 results with revenues of $102.147 million, slightly down 0.17% year-over-year, but surpassed consensus estimates by 1.12%. Diluted EPS was reported at $0.74, reflecting a 85%…
- 10-Q · May 2, 2025
- Carriage Services reported Q1 2025 revenue of $107.069M and diluted EPS of $1.34, up materially year-over-year from $103.493M and $0.45, respectively. Operating income rose to $31.564M driven by a $(5.770)M net gain on…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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