Carriage Services Announces First Quarter Results
HOUSTON, April 27, 2022 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV ): today announced results for the first quarter ended March 31, 2022. Record Quarterly Revenue of $98.2 million, GAAP Diluted EPS of $1.00 and Adjusted Diluted EPS of $0.92; Invested $168.5 million since May 13, 2021 to repurchase 3.4 million shares (19% of outstanding) at $49.60 per share; Capital Allocation now focused on internal growth (mostly cemetery property development) and high quality acquisitions; Updated Rolling Four Quarter Outlook and Three Year Roughly Right Ranges Performance Scenario Through 2024; Discretionary Trust Fund Positive Total Return of 4.3%; and Management''s Opinion of Intrinsic Value Roughly Right Range remains at $70 to $80 per share. Mel Payne, Chairman and CEO, stated, "I highly recommend that anyone interested in Carriage for any reason read my most recent 2021 Shareholder Letter, co-written by the three other members of our Strategic Vision and Principles Group (SVPG), Carlos Quezada, Ben Brink and Steve Metzger, together with our Proxy Statement for our Annual Meeting of stockholders on May 17, 2022.
Carriage Services Announces First Quarter Results
HOUSTON, April 27, 2022 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV ): today announced results for the first quarter ended March 31, 2022. Record Quarterly Revenue of $98.2 million, GAAP Diluted EPS of $1.00 and Adjusted Diluted EPS of $0.92; Invested $168.5 million since May 13, 2021 to repurchase 3.4 million shares (19% of outstanding) at $49.60 per share; Capital Allocation now focused on internal growth (mostly cemetery property development) and high quality acquisitions; Updated Rolling Four Quarter Outlook and Three Year Roughly Right Ranges Performance Scenario Through 2024; Discretionary Trust Fund Positive Total Return of 4.3%; and Management''s Opinion of Intrinsic Value Roughly Right Range remains at $70 to $80 per share. Mel Payne, Chairman and CEO, stated, "I highly recommend that anyone interested in Carriage for any reason read my most recent 2021 Shareholder Letter, co-written by the three other members of our Strategic Vision and Principles Group (SVPG), Carlos Quezada, Ben Brink and Steve Metzger, together with our Proxy Statement for our Annual Meeting of stockholders on May 17, 2022.