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CSV Carriage Services

Founded in 1991, Carriage Services has become a funeral market leader that is currently operating 230+ funeral homes and cemeteries nationwide. The team spans 2000+ team members composed of local people serving their communities at the highest level of service. This is an organization that aims to work with the best funeral homes and cemeteries in the country.

Company profile

Ticker
CSV
Exchange
CEO
Melvin C. Payne
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
760423828

CSV stock data

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Calendar

5 May 21
31 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 406K 406K 406K 406K 406K 406K
Cash burn (monthly) 161K 959.5K (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 645.88K 3.85M n/a n/a n/a n/a
Cash remaining -239.88K -3.44M n/a n/a n/a n/a
Runway (months of cash) -1.5 -3.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jun 21 Patteson Donald Douglas Jr Common Stock Grant Aquire A No No 36.97 270 9.98K 59,201
30 Jun 21 Meehan Douglas B. Common Stock Grant Aquire A No No 36.97 946 34.97K 16,494
30 Jun 21 Brudnicki Greg M Common Stock Grant Aquire A No No 36.97 135 4.99K 26,244
30 Jun 21 Fingerhut Barry K Common Stock Grant Aquire A No No 36.97 979 36.19K 23,112
30 Jun 21 Leibman Bryan Common Stock Grant Aquire A No No 36.97 676 24.99K 31,067

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

74.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 131 127 +3.1%
Opened positions 18 23 -21.7%
Closed positions 14 8 +75.0%
Increased positions 34 35 -2.9%
Reduced positions 49 42 +16.7%
13F shares
Current Prev Q Change
Total value 755.09M 534.39M +41.3%
Total shares 13.43M 12.99M +3.5%
Total puts 50.8K 103K -50.7%
Total calls 17.1K 10.4K +64.4%
Total put/call ratio 3.0 9.9 -70.0%
Largest owners
Shares Value Change
Dimensional Fund Advisors 1.37M $48.05M -5.0%
BLK Blackrock 1.35M $47.36M +3.2%
AMP Ameriprise Financial 1.14M $40.06M +8.3%
Renaissance Technologies 1.04M $36.74M -4.3%
Global Alpha Capital Management 977.7K $34.41M -3.3%
Vanguard 877.61K $30.88M -3.1%
Kennedy Capital Management 588.02K $20.69M +9.4%
Polar Asset Management Partners 480.47K $16.91M +181.5%
LSV Asset Management 444.78K $15.65M +193.2%
Mill Road Capital Management 397.64K $13.99M 0.0%
Largest transactions
Shares Bought/sold Change
Polar Asset Management Partners 480.47K +309.79K +181.5%
LSV Asset Management 444.78K +293.09K +193.2%
JB Capital Partners 131.32K +131.32K NEW
Weber Alan W 0 -131.32K EXIT
AREX Capital Management 0 -121.5K EXIT
Arrowstreet Capital, Limited Partnership 181.13K +102.73K +131.0%
Assenagon Asset Management 91.55K +91.55K NEW
AMP Ameriprise Financial 1.14M +86.75K +8.3%
Nicholas 192.68K -76.04K -28.3%
K2 Principal Fund 72.18K -74.75K -50.9%

Financial report summary

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Competition
StoneMorStoneMor
Risks
  • The success of our businesses is typically dependent upon one or a few key employees for success because of the localized and personal nature of our business.
  • Our “Good To Great” incentive program could result in significant future payments to our Managing Partners.
  • Improved performance in our funeral and cemetery segments is dependent upon successful execution of our Standards Operating Model.
  • Our ability to execute our growth strategy is highly dependent upon our ability to successfully identify suitable acquisition candidates and negotiate transactions on favorable terms.
  • Divestitures could negatively impact our business and retained liabilities from businesses that we sell could adversely affect our financial results.
  • The funeral and cemetery industry is competitive.
  • Marketing and sales activities by existing and new competitors could cause us to lose market share and lead to lower revenue and margins.
  • Price competition could also reduce our market share or cause us to reduce prices to retain or recapture market share, either of which could reduce revenue and margins.
  • Our ability to generate preneed sales depends on a number of factors, including sales incentives and local and general economic conditions.
  • Increased preneed sales could have a negative impact on our cash flows.
  • Our funeral and cemetery trust funds own investments in equity securities, fixed income securities, and mutual funds, which are affected by market conditions that are beyond our control.
  • Earnings from and principal of trust funds could be reduced by changes in financial markets and the mix of securities owned.
  • We may be required to replenish our funeral and cemetery trust funds in order to meet minimum funding requirements, which would have a negative effect on our earnings and cash flow.
  • Increasing death benefits related to preneed funeral contracts funded through life insurance contracts may not cover future increases in the cost of providing a price-guaranteed funeral service.
  • The financial condition of third-party insurance companies that fund our preneed funeral contracts may impact our future revenue.
  • Changes in taxation as well as the inherent difficulty in quantifying potential tax effects of business decisions could have a material adverse effect on the results of our operations, financial condition, or cash flows.
  • New or revised tax regulations could have a material effect on our financial statements
  • Unfavorable results of litigation could have a material adverse impact on our financial statements.
  • Declines in the number of deaths in our markets can cause a decrease in revenue. Changes in the number of deaths are not predictable from market to market or over the short term.
  • The increasing number of cremations in the United States could cause revenue to decline because we could lose market share to firms specializing in cremations and because our average revenue for cremations is lower than that for traditional burials.
  • If we are not able to respond effectively to changing consumer preferences, our market share, revenue and profitability could decrease.
  • Because the funeral and cemetery businesses are high fixed-cost businesses, changes in revenue can have a disproportionately large effect on cash flow and profits.
  • Changes or increases in, or failure to comply with, regulations applicable to our business could increase costs or decrease cash flows.
  • We are subject to environmental and worker health and safety laws and regulations that may expose us to significant costs and liabilities.
  • Covenant restrictions in our debt instruments may limit our flexibility to operate and grow our business, and if we are not able to comply with such covenants, our lenders could accelerate our indebtedness, proceed against certain collateral or exercise other remedies, which could have a material adverse effect on us.
  • Our level of indebtedness could adversely affect our financial condition and prevent us from fulfilling our debt obligations.
  • Despite our current levels of indebtedness, we may still incur additional indebtedness. This could further exacerbate the risks associated with our indebtedness.
  • Unfavorable economic conditions, including those resulting from health and safety concerns, could adversely affect our business, financial condition or results of operations.
  • Economic, financial and stock market fluctuations could affect future potential earnings and cash flows and could result in future goodwill, intangible assets and long-lived asset impairments.
  • We rely significantly on information technology and any failure, inadequacy, interruption or security lapse of that technology, including any cybersecurity incidents could harm our ability to operate our business effectively.
  • Failure to maintain effective internal control over financial reporting could adversely affect our results of operations, investor confidence, and our stock price.
Management Discussion
  • The term “same store” refers to funeral homes and cemeteries acquired prior to January 1, 2017 and owned and operated for the entirety of each period being presented, excluding certain funeral home and cemetery businesses that we intend to divest in the near future.
  • The term “acquired” refers to funeral homes and cemeteries purchased after December 31, 2016, excluding any funeral home and cemetery businesses that we intend to divest in the near future. This classification of acquisitions has been important to management and investors in monitoring the results of these businesses and to gauge the leveraging performance contribution that a selective acquisition program can have on total company performance.
  • The term “divested” when discussed in the Funeral Home Segment, refers to the two funeral homes we sold in first quarter of 2021.
Content analysis
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Positive
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Constraining
Legalese
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Readability
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