Carriage Services
Operates locally branded funeral homes and cemeteries across the United States.
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Profile
Operates funeral homes and cemeteries across the United States through locally branded partner businesses. Revenue comes from death-care services and cemetery operations, while acquisitions and divestitures reshape a distributed portfolio governed through a decentralized Standards Operating Model.
Operates funeral homes and cemeteries across the United States, providing death-care services through a portfolio of locally branded businesses. The operating footprint spans more than a hundred funeral homes and dozens of cemeteries.
Uses a Standards Operating Model that gives local partners operating responsibility and supports programs tailored to community needs. This decentralized approach follows an earlier shift away from centralized national preneed marketing.
Builds and reshapes the portfolio through acquisitions, divestitures, and property transactions. Rapid acquisition-led expansion shaped the early business, while the Fresh Start reset addressed high debt by reducing overhead, changing preneed marketing, and selling weaker properties. Continued growth depends on selecting, financing, and integrating local businesses while maintaining service standards across a distributed network.
Company facts
Key statistics
Year to date −17.9% · Average volume (30d) 176.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Oppenheimer | Initiate | Outperform | $48 | |
| Aug 7, 2026 | Raymond James | Target | $60 | $50 | |
| Aug 7, 2026 | Roth Capital | Target | $40 | $46 | |
| Oct 1, 2025 | Raymond James | Target | $60 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.82 | $0.78 | −5.1% | $108.9M | $102.9M | −5.5% | −10.63% |
| May 6, 2026Q1 FY26 | $0.85 | $0.86 | +1.2% | $111.4M | $106.1M | −4.7% | −4.23% |
| Feb 25, 2026Q4 FY25 | $0.80 | $0.75 | −6.3% | $103.6M | $105.5M | +1.8% | +2.52% |
| Nov 5, 2025Q3 FY25 | $0.72 | $0.75 | +4.2% | $103.5M | $102.7M | −0.8% | −4.08% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $107.1M | $102.1M | $102.7M | $105.5M | $106.1M | $102.9M | |
| Gross profit | $37.8M | $35.9M | $36.2M | $36.7M | $38.6M | $35.0M | |
| Operating income | $31.6M | $24.0M | $24.0M | $24.2M | $25.6M | $24.0M | |
| Net income | $20.9M | $11.7M | $6.5M | $12.3M | $13.5M | $12.3M | |
| Diluted EPS | $1.34 | $0.74 | $0.41 | $0.77 | $0.84 | $0.77 | |
| Gross margin | 35.3% | 35.2% | 35.2% | 34.8% | 36.4% | 34.0% | |
| Operating margin | 29.5% | 23.5% | 23.4% | 22.9% | 24.1% | 23.3% |
Fiscal years (4-quarter sums)FY21 $375.9M · FY22 $370.2M · FY23 $382.5M · FY24 $404.2M · FY25 $417.4M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.6M · Total debt $549.3M · Total assets $1.37B · Shareholders' equity $279.4M
Dividends
Raised for 13 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 3, 2026 | Aug 3 | Sep 1 | $0.1125 | |
| May 4, 2026 | May 4 | Jun 1 | $0.1125 | |
| Feb 2, 2026 | Feb 2 | Mar 2 | $0.1125 | |
| Nov 3, 2025 | Nov 3 | Dec 1 | $0.1125 | |
| Aug 4, 2025 | Aug 4 | Sep 2 | $0.1125 | |
| May 5, 2025 | May 5 | Jun 2 | $0.1125 | |
| Feb 3, 2025 | Feb 3 | Mar 3 | $0.1125 | |
| Nov 4, 2024 | Nov 4 | Dec 2 | $0.1125 |
Ownership
Shares outstanding 15.87M · Float 14.14M · 89.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 2.38M | 15.00% | 13F | Aug 13, 2026 |
| Vineyard Capital Partners, L.L.C. | 1.10M | 7.10% | 13G | Feb 12, 2026 |
| BlackRock, Inc. | 1.10M | 6.93% | 13F | Aug 7, 2026 |
| T. Rowe Price Investment Management, Inc. | 726.0K | 4.57% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 644.6K | 4.06% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Oct 7, 2025 | Carlos R. Quezada | director, officer: CEO | −4,250 | $46.14 |
| Aug 27, 2025 | Shane Pudenz | other: Vice President of Sales | −13,027 | $44.36 |
Peers
- Service Corporation International
Largest direct rival across funeral, cemetery, cremation, and preneed
- Security National Financial
Regional funeral, cemetery, cremation, and preneed operator
- Matthews International
Memorialization rival in caskets, markers, monuments, and cremation
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Carriage Services | $34.09 | +0.03% | $541.1M | 12.2 | 9.7 | 1.3 | +0.8% |
| Service Corporation International | $83.36 | −0.04% | $11.39B | 18.6 | 18.9 | 2.6 | +3.6% |
| Security National Financial | $8.80 | +0.11% | $197.1M | 5.7 | — | 0.8 | +3,446.8% |
| Matthews International | $21.05 | +0.48% | $653.1M | — | 26.2 | 0.6 | −29.6% |
| Median | 12.2 | 22.5 | 0.8 | +3.6% |