On Nov 6, Carriage Services announced its financial results for the third quarter ended Sept. 30, 2025.
Company highlights included:
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Total revenue grew 2% over the prior year quarter, driven by increased operating revenue of 5.2% primarily as a result of 21.4% growth in cemetery preneed sales.
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Cemetery operating revenue increased 12.6% over the prior year quarter, driven by a 4.6% increase in the number of preneed interment rights sold and a 15.1% increase in the average price of preneed interment rights sold.
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Financial revenue increased 27.2% over the prior year quarter, primarily driven by a 27.9% increase in preneed insurance contracts sold resulting in an increase in general agency commission revenue.
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GAAP diluted EPS of $0.41 compared to $0.63 in the prior year quarter.
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Adjusted diluted EPS of $0.75 compared to $0.64 in the prior year quarter, resulting in an increase of 17.2%.
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Divested non-core assets consisting of seven funeral homes and one cemetery and completed the strategic acquisition of two businesses that generated more than $15 million in revenue last year while reducing its leverage ratio to 4.1x.
Carlos Quezada, vice chairman and CEO (pictured at top), stated, “We are pleased with our third-quarter performance, which reflects the strength of our strategy and the dedication of our team. Our adjusted diluted EPS of $0.75 represents a 17.2% increase over last year’s $0.64, underscoring our commitment to disciplined execution and purposeful growth.
We are excited to be back in growth mode, expanding our footprint this quarter through strategic acquisitions of businesses that served over 2,600 families and generated more than $15 million in annual revenue last year. At the same time, we divested certain non-core assets to reallocate capital towards better long-term value creation opportunities.
Total operating revenue grew 5.2% year-over-year, driven by 21.4% growth in cemetery preneed sales combined with financial revenue growth of 27.2%, reflecting the continued success of our national prearranged funeral and cemetery strategy. These results highlight the strength of our team, the effectiveness of our business strategy, and the growing demand for the premier experiences we deliver. Purposeful Growth in Action – Building Momentum Toward Our 2030 Vision.”
Read the company’s full earnings report here.
