Funeral services company Carriage Services (NYSE: CSV) will be reporting earnings this Wednesday after market close. Here’s what investors should know.
Carriage Services beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $107.1 million, up 3.5% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS estimates but full-year revenue guidance slightly missing 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 be flat year on year at $101.4 million, slowing from the 4.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.73 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.9% on average.
Looking at Carriage Services’s peers in the specialized consumer services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Service International delivered year-on-year revenue growth of 3%, beating analysts’ expectations by 1.3%, and Pool reported flat revenue, in line with consensus estimates. Service International’s stock price was unchanged after the resultswhile Pool was up 2.6%.
Read our full analysis of Service International’s results here and Pool’s results here.
There has been positive sentiment among investors in the specialized consumer services segment, with share prices up 2.5% on average over the last month. Carriage Services is down 1.7% during the same time and is heading into earnings with an average analyst price target of $53 (compared to the current share price of $45.48).
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