Carriage Services (CSV) Reports Q1: Everything You Need To Know Ahead Of Earnings

Funeral services company Carriage Services (NYSE:CSV) will be reporting results tomorrow after market close. Here's what investors should know.

Carriage Services beat analysts' revenue expectations by 5.5% last quarter, reporting revenues of $98.83 million, up 5.2% year on year. It was a very strong quarter for the company: Revenue beat by a nice amount and EPS blew past analysts' expectations.

Is Carriage Services a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Carriage Services's revenue to grow 3.4% year on year to $98.8 million, a reversal from the 2.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.62 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carriage Services has missed Wall Street's revenue estimates three times over the last two years.

Looking at Carriage Services's peers in the specialized consumer services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. ADT's revenues decreased 5.3% year on year, meeting analysts' expectations, and Pool reported a revenue decline of 7.1%, in line with consensus estimates. ADT traded up 1% following the results while Pool was down 1.3%.

Read our full analysis of ADT's results here and Pool's results here.

Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 thanks to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, and while some of the specialized consumer services stocks have fared somewhat better, they have not been spared, with share prices down 6.2% on average over the last month. Carriage Services is down 1.6% during the same time and is heading into earnings with an average analyst price target of $36.8 (compared to the current share price of $26.1).

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