Carriage Services Posts 55% EPS Growth, Eyes $440M Revenue in 2026
Event summary
- Carriage Services reported a 54.8% increase in GAAP diluted EPS for 2025, reaching $3.25.
- Full-year revenue grew 3.3% to $417.4M, driven by 6.8% growth in funeral contracts and 25.5% increase in preneed cemetery sales.
- The company completed two strategic acquisitions generating over $15M in revenue and reduced leverage ratio to 4.0x.
- 2026 guidance projects $440M–$450M in revenue and adjusted EBITDA of $135M–$140M.
The big picture
Carriage Services' strong 2025 performance underscores its strategic focus on preneed sales and operational efficiency. The company's ability to reduce leverage while expanding its footprint highlights its disciplined approach to growth. As the funeral and cemetery services industry faces demographic shifts and economic pressures, Carriage's strategic acquisitions and pricing discipline will be critical to maintaining its competitive edge.
What we're watching
- Execution Risk
- Whether Carriage can sustain its growth momentum amid rising competition and economic uncertainty.
- Strategic Acquisitions
- The pace at which the company integrates new acquisitions and realizes synergies.
- Market Dynamics
- How changing consumer preferences and pricing discipline impact revenue growth.
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