Carriage Services Down 18.20% To $36.08 After Earnings Miss

Thursday, July 28, 2022 - Carriage Services (CSV) reported downside earnings and revenues today.

The consensus among analysts for Carriage Services was for an earnings per share (EPS) of $0.82. The firm failed to meet those projections, reporting an EPS of $0.58, a negative surprise of $0.24 (-29%). Profits fell 9% year-over-year after reporting an EPS of $0.64 in its year-ago quarter. The negative growth rate signals that the Consumer Cyclical company isn't performing well amid current economic conditions.

Revenues were downbeat at $90.6 million. That is an increase of 2.63% in revenues from the year-ago report and is 3.03% lower than consensus estimates set at $93.4 million.

The stock is down 18.20% to $36.08 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 71. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Carriage Services Inc is a leading provider of funeral and cemetery services and merchandise in the United States. It operates in two business segments: The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services. The Cemetery Operations segment provides services, such as mausoleum crypts, private estates, lawn crypt gardens, traditional single burial grave sites and burial vaults.