Carriage Services reports Q4 adjusted EPS 64c, consensus 49c

Reports Q4 revenue $93.9M, consensus $93.65M. CEO Carlos Quezada stated, “We are pleased to announce our strong Q4 and full year 2023 results. Total revenue grew by 5.2% in Q4 and 3.3% for the full year, despite the COVID “pull forward” impact resulting in modest declines in funeral contract volume experienced during the year…This increase in revenue, coupled with disciplined cost management, resulted in a year-over-year increase in adjusted consolidated EBITDA of 3.5%, and a significant 13.2% growth over the prior year quarter, which also included margin expansion of 230 basis points. This momentum, marking four out of five consecutive quarters of solid performance, instills confidence and excitement in our core initiatives as we advance into 2024.”