Carriage Services reported third quarter 2026 results that missed analyst estimates on both the top and bottom lines. Following significant underperformance in the cemetery segment and higher trust taxes, management substantially lowered its full-year 2026 guidance for revenue, adjusted EBITDA, and adjusted EPS.
Key Highlights
- Full-year 2026 guidance was revised downward, with adjusted EPS now expected between $2.90–$3.05, down from the previous $3.35–$3.55 target.
- Cemetery comparable revenue declined 7.8% during the quarter, primarily driven by lower preneed sales production despite a 1.7% increase in average price.
- Funeral segment momentum showed signs of recovery as same-store funeral contracts increased 2.3% and average revenue per contract grew 1.9%.
- Financial results were negatively impacted by additional trust taxes finalized in Q3 related to the sale of certain MLP investments.
- The company closed a new $300 million credit facility and identifies a strategic acquisition pipeline representing over $14 million in annual revenue.