Carriage Services Inc (CSV) News & EventsCSVCarriage Services Inc

Carriage Services Terminates $100 Million Equity Offering and Secures $300 Million Credit Facility

Carriage Services "announced a comprehensive capital allocation framework designed to enhance long-term shareholder value per share, strengthen the Company's financial position and support the execution of its 2030 Vision. As part of the framework, Carriage is terminating its existing $100 million at-the-market equity offering program, effective October 4, 2026. In a separate release issued today, Carriage announced that it has entered into a new $300 million revolving credit facility with a new bank syndicate led by JPMorgan Chase, replacing its existing $250 million facility. The new facility expands its banking relationships and is expected to strengthen Carriage's liquidity and enhance its financial flexibility."

Company Reports Q2 Revenue of $102.95M, Below Expectations

Reports Q2 revenue $102.95M, consensus $108.91M. Carlos Quezada, CEO, stated, "We are pleased with our second-quarter performance. Against the backdrop of lower national mortality trends that emerged earlier this year, resulting in a 3.5% decline in our at-need volume compared with the second quarter of 2025, we delivered strong financial results. Comparable average revenue per contract increased 3.7% in funeral homes and 17.9% in preneed cemetery average revenue per interment, while total financial revenue grew 14.0%. Another positive during the second quarter was the continued growth in our preneed programs, a key driver of our long-term growth strategy, highlighted by 21.1% growth in insurance-funded preneed funeral contracts and 5.0% growth in consolidated cemetery preneed sales production. These accomplishments more than offset the volume impact, driving revenue to $102.9M, an increase of 0.8% year over year."

Lowers FY26 Revenue Outlook to $435M-$445M

Lowers FY26 revenue outlook to $435M-$445M from $440M-$450M, consensus $442.86M.