Funeral services company Carriage Services (NYSE: CSV) will be reporting results this Wednesday after the bell. Here’s what to look for.
Carriage Services beat analysts’ revenue expectations last quarter, reporting revenues of $105.5 million, up 8% year on year. It was a strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and a decent beat of analysts’ adjusted operating income estimates.
Is Carriage Services a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Carriage Services’s revenue to grow 4% year on year, in line with the 3.5% increase it recorded in the same quarter last year.
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 a history of exceeding Wall Street’s expectations.
Looking at Carriage Services’s peers in the consumer discretionary - specialized consumer services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Matthews’s revenues decreased 39.5% year on year, beating analysts’ expectations by 2%, and Mister Car Wash reported revenues up 6.2%, topping estimates by 1%. Matthews traded down 1.2% following the results while Mister Car Wash’s stock price was unchanged.
Read our full analysis of Matthews’s results here and Mister Car Wash’s results here.
There has been positive sentiment among investors in the consumer discretionary - specialized consumer services segment, with share prices up 4.4% on average over the last month. Carriage Services is up 3.4% during the same time and is heading into earnings with an average analyst price target of $60 (compared to the current share price of $47.29).
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