Carriage Services Earnings: What To Look For From CSV

StockStory
29 Oct 2024
Carriage Services Earnings: What To Look For From CSV

Funeral services company Carriage Services (NYSE:CSV) will be announcing earnings results tomorrow after market hours. Here’s what to expect.

Carriage Services beat analysts’ revenue expectations by 7.7% last quarter, reporting revenues of $102.3 million, up 4.8% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates.

Is Carriage Services a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Carriage Services’s revenue to grow 3% year on year to $93.18 million, in line with the 3.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.43 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carriage Services has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Carriage Services’s peers in the specialized consumer services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. ADT delivered year-on-year revenue growth of 5.4%, beating analysts’ expectations by 1.7%, and Pool reported a revenue decline of 2.8%, topping estimates by 2.1%. ADT traded up 13.8% following the results while Pool was also up 4.3%.

Read our full analysis of ADT’s results here and Pool’s results here.

Investors in the specialized consumer services segment have had steady hands going into earnings, with share prices flat over the last month. Carriage Services’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $39.25 (compared to the current share price of $32.64).

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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