CSV Carriage Services Inc. featured news, full reports, and detailed charts
Carriage Services Inc. (CSV) Wrap Up:
Carriage Services, Inc. provides death care services and merchandise in the United States. The company operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers various services to meet a family?s funeral needs, including consultation, the removal and preparation of remains, the sale of caskets and related funeral merchandise, the use of funeral home facilities for visitation and worship, and transportation. As of December 31, 2008, it operated 136 funeral homes in 25 states. The Cemetery Operations segment provides interment services; the rights to interment in cemetery sites, including grave sites, mausoleum crypts, and niches; and related cemetery merchandise, such as memorials and vaults. As of December 31, 2008, this segment operated 32 cemeteries in 11 states. Carriage Services, Inc. also markets funeral and cemetery services and products on a preneed basis. Its preneed funeral or cemetery contracts enable families to establish, in advance, the type of service to be performed, the products to be used, and the cost of such products and services. The company was founded in 1991 and is headquartered in Houston, Texas.Carriage Services Inc. (CSV:NYSE)
Snapshot of Carriage Services Inc. (CSV)
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OPEN
$3.95
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PREVIOUS CLOSE
$3.93
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DAY HIGH
$3.95
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DAY LOW
$3.79
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52 WEEK HIGH
10/21/09 - $4.59
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52 WEEK LOW
02/26/09 - $1.10
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MARKET CAP
67.7M
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AVERAGE VOLUME 3 mo
26.4K
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DILUTED EPS TTM
$0.21
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SHARES OUTSTANDING
17.3M
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CSV Does Not Pay Dividends
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P/E TTM
18.5x
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CSV Top Compensated Officers
Executives, Board Directors
Key developments for Carriage Services Inc. (CSV)
Carriage Services Inc. announced that, effective November 4, 2009, it has amended and extended its existing senior secured bank revolving credit facility with its lenders, Bank of America and Wells Fargo. Prior to the transaction, the $20 million credit facility was scheduled to mature in April 2010. The amended credit facility is in the amount of $40 million with an accordion provision for an additional $20 million and matures in November 2012. The primary purpose of the credit facility is to provide acquisition financing. As of this date, the facility is undrawn.
Carriage Services Inc. reported unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2009. Given a weak revenue environment, third quarter results were satisfactory primarily because the company achieved diluted EPS from continuing operations of $0.05 against $0.03 on a comparable basis and $0.01 on a GAAP basis last year. Total revenue from continuing operations for the third quarter of 2009 was $42.2 million compared to $43.2 million in last year's third quarter. Consolidated EBITDA from continuing operations in the third quarter was $8.7 million against $7.6 million last year. Excluding special charges, adjusted diluted earnings per share from continuing operations were $0.05 against was $0.03 last year. Adjusted consolidated EBITDA from continuing operations was $8.7 million against $8.4 million last year. Pretax income from continuing operations was $1.4 million against $0.3 million last year. Net income from continuing operations was $0.9 million against $0.1 million last year. The company generated negative free cash flow of $0.7 million during the third quarter of 2009, compared to $0.8 million in the third quarter of 2008. It is common for free cash flow to be low in the third quarter because the company pays the semiannual cash interest payment of $5.1 million on the senior notes in the third quarter and because seasonally the third quarter is the lowest revenue period of the year. Cash provided by operating activities from continuing operations was $966,000 against $201,000 last year. Maintenance capital expenditures from continuing operations were $1,674,000 against $965,000 last year. For the first nine months ended September 30, 2009, total revenue from continuing operations was essentially flat at $132.5 million compared to $133.0 million. First nine months 2009 diluted earnings per share from continuing operations was $0.29 compared to diluted earnings per share from continuing operations of $0.18 on a GAAP basis in the same period last year. Excluding special charges, adjusted diluted earnings per share from continuing operations were $0.29 against was $0.26 last year. Consolidated EBITDA from continuing operations was $31.1 million compared to $27.7 million last year. Adjusted consolidated EBITDA from continuing operations was $31.1 million against $30.3 million last year. Pretax income from continuing operations was $8.8 million against $5.7 million last year. Net income from continuing operations was $5.2 million against $3.4 million last year. Adjusted cash provided by operations was $11.2 million, cash used for maintenance capital expenditures was $3.3 million, adjusted free cash flow was $7.9 million, cash used for growth capital expenditures-funeral homes was $0.4 million, and cash used for growth capital expenditures-cemeteries was $2.4 million. The company is in the process of amending and extending its bank credit facility with its lenders, Bank of America Merrill Lynch and Wells Fargo. The company's current credit facility in the amount of $20 million expires in April 2010 and as of September 30, 2009 had no borrowings outstanding. The new credit facility is contemplated to be in the amount of $40 million with an accordion provision in the amount of $20 million and is expected to have a maturity date in the fourth quarter of 2012. The primary purpose of the new bank credit facility is to provide acquisition financing. The four quarter outlook ranges for the rolling four quarter period ending September 30, 2010 are intended to approximate what the company believes will be the sustainable earning power of its portfolio of deathcare assets over the next four quarters as its three models are effectively executed. The company expects revenues in the range of $177.0 million-$182.0 million, consolidated EBITDA in the range of $41.0 million-$42.3 million, consolidated EBITDA margin of 23.2%, net income in the range of $6.6 million-$7.3 million, diluted EPS in the range of $0.38-$0.42 and free cash flow in the range of $14.5 million-$16.0 million. The company expects cash provided by operating activities from continuing operations of $21,000,000, maintenance capital expenditures from continuing operations of $7,000,000 and pre-tax earnings from continuing operations of $9,900,000.
Carriage Services Inc. expected to Report Fiscal Year 2009 Results on February 22, 2010. This event was calculated by Capital IQ (Created on October 17, 2009).
CSV Competitors
| Company | Last | Change |
| Arbor Memorial Services Inc | C$23.19 CAD | 0.00 |
| Keystone North America Inc | C$33.25 CAD | +0.03 |
| Rock of Ages Corporation | $3.19 USD | +0.14 |
| Stewart Enterprises Inc | $4.77 USD | 0.00 |
| StoneMor Partners L.P. | $17.44 USD | -0.03 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | CSV | Industry Range |
| Price/Earnings | 20.2x |
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| Price/Sales | 0.4x |
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| Price/Book | 0.6x |
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| Price/Cash Flow | 4.9x |
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| TEV/Sales | NM | Not Meaningful |
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CSV |
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CSV transactions
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Target | |
| No transactions in the last 6 months. | ||
More Recent News About Carriage Services Inc.
More news for CSV
Q3 2009 Carriage Services Earnings Release - After Market Close
Earnings Announcements for Wednesday, October 28CompanySymbolTimeConferenceCall8x8, Inc.EGHTAfter Market CloseACC LTDACC.BOTime Not SuppliedACCO BrandsABDBefore Market OpenListenAcerinoxACX.MCTime Not SuppliedActa Holding ASAACTA.OL03:30 am ETAcxiomACXMAfter Market CloseAdvance America, Cash Advance Centers Inc.AEAAfter Market CloseADVANCED ANALOG TECH INC3438.TWOAfter Market CloseAdvanced Analogic TechnologiesAATIAfter Market CloseAdvanced Energy IndustriesAEISBefore Market OpenAdvantest CorpATE02:00 am ETAEROSUN CORPORATION600501.SSTime Not SuppliedAffiliated Managers Group, Inc.AMGTime Not SuppliedListenAflac IncorporatedAFLAfter Market CloseListenAgnico-Eagle Mines LimitedAEMAfter Market CloseAkamai Technologies Inc.AKAMAfter Market CloseListenAKTIV KAPITAL ASA...Click here to read the whole Article (external link)
Carriage Services Announces Third Quarter Earnings Release and Conference Call Schedule
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
CARRIAGE SERVICES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exh
Show all filings for CARRIAGE SERVICES INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for CARRIAGE SERVICES INC 29-Oct-2009Results of Operations and Financial Condition, Financial Statements and Exh Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pr...Click here to read the whole Article (external link)
Carriage Services Announces Third Quarter 2009 Results
HOUSTON, Oct. 28 /PRNewswire-FirstCall/ -- Carriage Services, Inc. (NYSE: CSV - News) today announced results for the third quarter ended September 30, 2009. Financial highlights from continuing operations for the third quarter of 2009 compared to the third quarter of 2008 were as follows: Third Quarter Selected Financial Results (amounts in millions, except per share amounts) Change ----------------- Q3 2008(1) Q3 2009 Amount Percent ---------- ------- ------- ------- Total Revenues $43.2 $42.2 ($1.0) (2.4%) Consolidated EBITDA $8.4 $8.7 $0.3 4.3% Consolidated EBITDA Margin 19.4% 20.7% 130bp 6.7% Net Income $0.6 $0.9 $0.3 50% Diluted Earnings per Share $0.03 $0.05 $0.02 67% (1) For comparability purposes, Q3 2008 is adjusted to exclude special charges totaling $0.8 million HIGHLIGHTSMelvin C. Payne, Chairman and Chief Executive Officer, stated, "Given a weak revenue environment, third quarter results were satisfactory primarily because we achieved EPS of $0.05 versus $0.03 on a comparable basis and $0.01 on a GAAP basis last year. Despite the lower funeral volumes and challenging economic conditions, our expense management a...Click here to read the whole Article (external link)
CARRIAGE SERVICES INC Files SEC form 10-Q, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements In addition to historical information, this Quarterly Report contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include any projections of earnings, revenues, asset sales, acquisitions, cash balances and cash flow, debt levels or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words "may", "will", "estimate", "intend", "believe", "expect", "project", "forecast", "plan", "anticipate" and other similar words. Cautionary Statements We caution readers that important factors, in some cases have affected, and in the future could affect, our actual consolidated results and could cause our actual consolidated results in the future to differ materially from the goals and expectations expressed herein and in any other forward-looking statements made by or on behalf of us. Risks associated with our business and the death care industry are presented in Item 1A - Risk Factors in our Annual Report filed on Form 10-K for the year ended December 31, 2008. OVERVIEW General We operate two types of businesses: funeral homes, which account for approximately 75% of our revenues, and cemeteries, which account for approximately 25% of our revenues. Funeral homes are principally service businesses that provide funeral services (traditional burial and cremation) and sell related merchandise, such as caskets and urns. Cemeteries are primarily a sales business that sells interment rights (g...Click here to read the whole Article (external link)
CARRIAGE SERVICES INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exh
Item 2.02 Results of Operations and Financial Condition. In the press release dated November 5, 2009, Carriage Services, Inc. (the "Company") announced that the Company entered into a Seventh Amendment to its Credit Agreement, dated April 27, 2005. A copy of the press release issued by the Company is attached hereto as Exhibit 99.1 and incorporated by this reference. The information in this Item 2.02 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant On November 4, 2009, the Company entered into a Seventh Amendment (the "Seventh Amendment") to its Credit Agreement, dated April 27, 2005 (the "Credit Agreement"), with its lenders, Bank of America, N.A. ("BofA") and Wells Fargo Bank, N.A. ("Wells Fargo"), with BofA as its Administrative Agent, Swing Line Lender, and L/C issuer, and Wells Fargo as its Syndication Agent. The Seventh Amendment is effective on and as of November 4, 2009 (provided, however, that Section 1(i) of the Seventh Amendment and subclause (2) of Section 1(i) of the Seventh Amendment shall be effective as of April 27, 2005). Maximum Aggregate Commitments are collateralized by all personal property and funeral home real property in certain states. Borrowings under the Credit Agreement bear interest at either prime or LIBOR options. The Credit Agreement is undrawn, except for $100,000 in standby letters of credit at November 4, 2009. The purpose of the Seventh Amendment was to: (1) amend the Maximum Aggregate Commitments under the Credit Agreement from $20.0 million to $40.0 million, (2) provide the Company, on not more than two occasions, the opportunity to request an increase in the Aggregate Commitments by an aggregate amount not exceeding, $20.0 mi...Click here to read the whole Article (external link)
Carriage Services Amends and Extends Credit Facility
HOUSTON, Nov. 5 /PRNewswire-FirstCall/ -- Carriage Services, Inc. (NYSE: CSV - News) today announced that, effective November 4, 2009, it has amended and extended its existing senior secured bank revolving credit facility with its lenders, Bank of America and Wells Fargo. Prior to the transaction, the $20 million credit facility was scheduled to mature in April 2010. The amended credit facility is in the amount of $40 million with an accordion provision for an additional $20 million and matures in November 2012. The primary purpose of the credit facility is to provide acquisition financing. As of this date, the facility is undrawn. Additional information regarding the amended credit facility is contained in the Company's Form 8-K dated November 5, 2009, filed with the Securities and Exchange Commission.Carriage Services is a leading provider of death care services and products. Carriage operates 134 funeral homes in 25 states and 32 cemeteries in 11 states.Forward-Looking Statements Certain statements made herein or elsewhere by, or on behalf of, the Company that are not historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the Company believes are reasonable; however, many important factors, as discussed under "Forward-Looking Statements and Cautionary Statements" in the Company's Annual Report and F...Click here to read the whole Article (external link)
CARRIAGE SERVICES INC Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue42,167 44,550 45,803 43,836 Cost of Revenue32,197 32,748 33,278 33,728 Gross Profit9,970 11,802 12,525 10,108 Operating ExpensesResearch Development - - - - Selling General and Administrative3,530 3,533 3,558 3,955 Non Recurring - - - - Others397 411 415 412 Total Operating Expenses - - - - Operating Income or Loss6,043 7,858 8,552 5,741 Income from Continuing OperationsTotal Other Income/Expenses Net1 221 2 (3,295)Earnings Before Interest And Taxes6,044 8,079 8,554 2,446 Interest Expense4,598 4,661 4,598 4,630 Income Before Tax1,446 3,418 3,956 (2,184)Income Tax Expense586 1,384 1,602 (531)Minority Interest - - - - Net Income From Continuing Ops860 2,034 2,354 (1,653)Non-recurring EventsDiscontinued Operations - - - (166)Extraordinary Items - - - - Effect Of Accounting Changes - - ...Click here to read the whole Article (external link)
Carriage Services Updates Company & Investment Profile
HOUSTON, Nov. 10 /PRNewswire-FirstCall/ -- Carriage Services, Inc. (NYSE: CSV - News) today announced that it has updated its "Company & Investment Profile," which can be found on Carriage's website at http://www.carriageservices.com. Carriage's updated Company & Investment Profile includes updated discussions of Carriage's business, operating and growth strategies, historical financial information, financial outlook and more.http://www.carriageservices.com to read or download the Company & Investment Profile.Carriage Services is a leading provider of death care services and products. Carriage operates 136 funeral homes in 25 states and 32 cemeteries in 11 states.Certain statements made herein or elsewhere by, or on behalf of, the company that are not historical facts are intended to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions that the company believes are reasonable; however, many important factors, as di...Click here to read the whole Article (external link)