Carriage Services (CSV) trades at a steep discount, with shares at ~$34 and a fair value estimate of $55, offering a compelling margin of safety. CSV's core business benefits from secular demographic tailwinds and a fragmented industry ripe for accretive acquisitions at 7–9x EBITDA multiples. Key risks include refinancing $400M in 2029 senior notes at higher rates and potential macro headwinds, but prudent capital allocation and deleveraging mitigate downside.
Carriage Services NYSE: CSV reported higher second-quarter adjusted earnings and EBITDA despite lower funeral volumes, as the company cited pricing gains, growth in insurance-funded preneed contracts and cost discipline. Management also updated its 2026 outlook to reflect softer-than-expected mortality trends in the first half and later timing for anticipated acquisitions.
Carriage Services, Inc. (CSV) Q2 2026 Earnings Call Transcript
| Personal Care Products Industry | Consumer Staples Sector | Carlos R. Quezada CEO | XMUN Exchange | US1439051079 ISIN |
| US Country | 2,321 Employees | 3 Aug 2026 Last Dividend | - Last Split | 8 Aug 1996 IPO Date |
Carriage Services, Inc. is a distinguished provider of funeral and cemetery services, including merchandise across the United States. Structured into two primary operational segments—Funeral Home Operations and Cemetery Operations—the company offers a comprehensive range of end-of-life services. Founded in 1991 and headquartered in Houston, Texas, Carriage Services, Inc. stands as a significant facilitator for those seeking dignified funeral and memorial options, as well as comprehensive cemetery services and products.
Carriage Services, Inc. offers a wide array of products and services that cater to the needs of individuals and families during their most challenging times. These offerings are spread across two main segments:
This segment includes a variety of services aimed at managing and facilitating funeral services seamlessly. Clients receive expert consultation, access to funeral home facilities for visitation and memorial occasions, and professional assistance with the transportation, removal, and preparation of remains. Additionally, the company sells crucial funeral merchandise like caskets and urns, offers cremation services, and supplies related funeral merchandise, catering to diverse preferences and requirements.
Within this segment, Carriage Services, Inc. provides comprehensive cemetery-related services and products. This encompasses the sale of interment rights in various forms—gravesites, lawn crypts, mausoleum spaces, and niches—which ensures a range of options for final resting places. Furthermore, the company markets related cemetery merchandise, such as memorial markers, outer burial containers, and monuments. They also offer full services for interments, inurnments, and the installation of cemetery merchandise, ensuring a respectful and seamless end-of-life commemoration.