The following is a summary of the Carriage Services, Inc. (CSV) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Carriage Services reported a Q1 2024 total revenue of $103.5 million, an 8.4% increase from the previous year.

• Despite a decrease in funeral operating volume, the total funeral home operating revenue increased to $66.6 million, up by 1.8%.

• The cemetery operating revenue closed the quarter at $27.6 million, marking an increase of 29.4% from the previous year.

• Total financial revenue for the quarter was at $6.9 million, a 14.3% increase.

• Adjusted consolidated EBITDA for Q1 2024 was at $33.6 million, marking a 20.9% increase, and an adjusted diluted EPS of $0.75 per share, a 33.9% growth.

Business Progress:

• The company's successful Q1 2024 is due to the successful integration of Greenland, their recent acquisition.

• Despite increased overhead and high interest rates, Carriage Services continues to prioritize cost-effectivity and optimized capital allocation.

• The business stays focused on its 5-year strategic objectives and 2024 core initiatives.

• They have initiated comprehensive reviews on pricing strategy and supply chain practices.

• Carriage Services is considering monetization of some of its real estate as part of its growth strategy.

More details: Carriage Services IR

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