Carriage Services Inc (CSV) 10-Q Quarterly Report October 2017

Mel Payne, Chief Executive Officer, stated, “The third quarter marked a challenging time for our company and many of the communities we serve as Hurricanes Harvey and Irma swept across southern Texas and Florida. What we witnessed over the past few months was the remarkable and inspiring CAN DO SPIRIT of the affected communities whose leadership at all levels including federal, state and local showed the country strength and resilience at its best under difficult circumstances. I want to especially express my heartfelt appreciation and gratitude to all the employees in our home office support center and operating businesses that were affected, some of whom suffered personal devastation in their homes but all of whom demonstrated what Carriage’s High Performance Culture is all about during the storms and historic floods by continuing to serve their client families and local communities.

Remarkably, our home office support teams and systems continued to remain online serving our businesses throughout the crisis, a qualitative testimonial to our Mission of Being The Best. I want to take this opportunity on behalf of our senior leadership and Board to publicly thank all of the members of the Carriage Family of businesses and the many friends of our Carriage Family who reached out with their thoughts, prayers, sympathies and offers of support.

Third quarter highlights are shown below:

Three Months Ended September 30, 2017 compared to Three Months Ended September 30, 2016


•	Record Total Revenue of $61.1 million, an increase of 1.5%;


•	Net Income of $3.0 million, a decrease of 46.5%;


•	GAAP Diluted Earnings Per Share of $0.17, a decrease of 48.5%;


•	Total Field EBITDA of $23.0 million, a decrease of 5.9%;


•	Total Field EBITDA Margin down 300 basis points to 37.7%;


•	Adjusted Consolidated EBITDA of $14.1 million, a decrease of 17.4%;


•	Adjusted Consolidated EBITDA Margin down 540 basis points to 23.1%;


•	Adjusted Net Income of $4.4 million, a decrease of 41.1%; and


•	Adjusted Diluted Earnings Per Share of $0.25, a decrease of 41.9%.

Nine Months Ended September 30, 2017 compared to Nine Months Ended September 30, 2016


•	Record Total Revenue of $193.1 million, an increase of 4.2%;


•	Net Income of $14.5 million, a decrease of 6.0%;


•	GAAP Diluted Earnings Per Share of $0.81, a decrease of 11.0%;


•	Record Total Field EBITDA of $77.8 million, an increase of .7%;


•	Total Field EBITDA Margin down 140 basis points to 40.3%;


•	Adjusted Consolidated EBITDA of $51.2 million, a decrease of 6.5%;


•	Adjusted Consolidated EBITDA Margin down 310 basis points to 26.5%;


•	Adjusted Net Income of $18.0 million, a decrease of 17.2%; and


•	Adjusted Diluted Earnings Per Share of $1.00, a decrease of 21.9%.

The following information was filed by Carriage Services Inc (CSV) on Wednesday, October 25, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Carriage Services Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: CSV
CIK: 1016281
Form Type: 10-Q Quarterly Report
Accession Number: 0001016281-17-000104
Submitted to the SEC: Wed Oct 25 2017 4:59:17 PM EST
Accepted by the SEC: Wed Oct 25 2017
Period: Saturday, September 30, 2017
Industry: Personal Services

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Carriage Services Inc (CSV) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

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