A Brief History of Carriage Services, Inc. (CSV)

Company Formation

Carriage Services, Inc. was founded in 1991 by Melvin H. Smith. The company initially focused on providing funeral and cemetery services across the United States.

Initial Public Offering

In 1996, Carriage Services went public, trading its shares on the NASDAQ under the ticker symbol CSV. The initial offering price was $12 per share.

Expansion Through Acquisitions

Throughout the late 1990s and early 2000s, Carriage Services expanded its reach through strategic acquisitions. By 2001, the company owned 71 funeral homes and 25 cemeteries.

Financial Performance Overview

In 2022, Carriage Services reported revenues of $214 million, with a net income of $25 million. The gross profit margin stood at approximately 43%.

Market Position

As of October 2023, Carriage Services operates approximately 200 funeral homes and 35 cemeteries across the United States. The company is one of the leading providers in the funeral service industry.

Recent Financial Highlights

COVID-19 Impact

The COVID-19 pandemic significantly affected the funeral industry, with Carriage Services reporting a 15% increase in demand for services in 2020. The company adapted by enhancing health and safety protocols.

Current Stock Performance

As of October 2023, Carriage Services' stock price is approximately $30.50, with a market capitalization exceeding $600 million. The price-to-earnings (P/E) ratio is around 24.

Future Outlook

Analysts forecast a steady growth rate of 5-7% for the company over the next five years, driven by strategic acquisitions and increased service demand.

Corporate Governance

Carriage Services is led by a strong management team, with CEO G. C. “Mike” McGowan at the helm since 2014. The Board of Directors consists of experienced leaders from various sectors.

A Who Owns Carriage Services, Inc. (CSV)

Overview of Ownership Structure

As of the latest data, Carriage Services, Inc. (CSV) is publicly traded on the New York Stock Exchange (NYSE) under the ticker symbol "CSV." The ownership of Carriage Services is comprised of institutional investors, individual investors, and company insiders.

Major Shareholders

Institutional Ownership Details

The majority of Carriage Services’ shares are held by institutional investors, which provides stability and financial backing. Among the largest institutional shareholders are:

• The Vanguard Group: Holds approximately 12.5% of outstanding shares.
• BlackRock, Inc.: Owns around 11.3% of outstanding shares.
• Dimensional Fund Advisors: Holds about 5.4% of outstanding shares.

Insider Ownership

Insider ownership represents a significant portion of the total shares, indicating management's confidence in the company's future. Key insiders include:

• Melvin D. H. Brown: CEO and Chairman with 500,000 shares.
• Other Executives: Combined total of 245,000 shares held by various members of management.

Recent Financial Performance

In the fiscal year 2022, Carriage Services, Inc. reported a revenue of $223.1 million, a net income of $21.5 million, and an EBITDA of $66.2 million. The company's total assets were valued at $160.7 million, with total liabilities amounting to $75.3 million.

Ownership Changes and Trends

Recent trends indicate a gradual increase in institutional ownership, reflecting a growing interest among large investors. For instance, between 2021 and 2023, institutional ownership rose from approximately 68% to the current 74.5%.

Market Capitalization

As of October 2023, Carriage Services, Inc. has a market capitalization of approximately $245 million, reflecting its status as a relatively small-cap stock within the funeral services industry.

Carriage Services, Inc. (CSV) Mission Statement

Company Overview

Founded in 1991, Carriage Services, Inc. is a leading provider of funeral and cemetery services in the United States. As of December 31, 2022, the company operated 199 funeral homes and 33 cemeteries, serving families across diverse communities.

Core Mission Statement

The mission statement of Carriage Services, Inc. is focused on providing exceptional and comprehensive services to families during their time of need. It emphasizes:

• Compassion: Offering heartfelt support to families.
• Quality: Delivering high-quality funeral and cemetery services.
• Integrity: Upholding ethical standards in all operations.

Financial Performance

In 2022, Carriage Services, Inc. reported the following financial highlights:

Strategic Goals

Carriage Services, Inc. aims to achieve sustainable growth through the following strategies:

• Expand service offerings.
• Enhance customer experience.
• Invest in technology.
• Increase market penetration in existing areas.

Employee Commitment

The commitment to employee development is reflected in the company's low turnover rate, which was reported at 11% in 2022. Carriage Services, Inc. values training and supports employees with ongoing education.
Key employee benefits include:

• Health insurance plans.
• 401(k) retirement plan.
• Paid time off and holidays.

Community Engagement

Community involvement is a key aspect of Carriage Services, Inc.'s mission. The company supports local charities and non-profit organizations. In 2022, they contributed approximately $1.2 million to various community initiatives.

Conclusion on Mission Alignment

The mission of Carriage Services, Inc. aligns closely with their operational practices and community engagement efforts. By focusing on compassion, quality, and integrity, the company seeks to enhance its service offerings while fostering a supportive environment for its employees and the communities it serves.

How Carriage Services, Inc. (CSV) Works

Overview of Carriage Services, Inc.

Carriage Services, Inc. (CSV) operates in the death care industry, primarily focused on providing funeral and cemetery services. As of the latest financial data, the company operates over 200 funeral homes and 35 cemeteries across the United States.

Financial Performance

For the fiscal year 2022, Carriage Services reported:

Revenue Streams

Carriage Services generates revenue from various sources, including:

• Funeral services
• Cemetery services
• Merchandise sales (caskets, urns, etc.)
• Pre-need sales

Service Offerings

The company provides a range of service offerings:

• Traditional funerals
• Cremation services
• Graveside services
• Memorial services
• End-of-life planning

Market Position

As of 2023, Carriage Services holds a significant position in the death care market, with a market share estimated at approximately 4% of the national market. Competitors include Service Corporation International, Legacy Funeral Group, and others.

Recent Acquisitions

Carriage Services has pursued a strategy of growth through acquisitions. In 2022, the company acquired:

Operational Strategies

Carriage Services aims to enhance its operational efficiency through:

• Standardization of services
• Technology integration in operations
• Quality assurance programs

Corporate Governance

The Board of Directors consists of industry veterans with diverse expertise. Key management includes:

Community Engagement

Carriage Services invests in community engagement through:

• Scholarship programs
• Local charity partnerships
• Educational initiatives on end-of-life planning

Current Stock Performance

As of October 2023, the stock price of Carriage Services (CSV) is approximately:

How Carriage Services, Inc. (CSV) Makes Money

Core Business Segments

Carriage Services, Inc. primarily generates revenue through two main segments: funeral home operations and cemetery operations.

Funeral Home Operations

The funeral home segment includes services such as traditional funerals, cremation services, and memorial services. In 2022, Carriage Services reported revenue of approximately $127.2 million from this segment, representing around 53% of total revenues.

Cemetery Operations

The cemetery segment consists of the sale of burial plots, mausoleum spaces, and other related services. For the year 2022, revenue from cemetery operations was approximately $113.9 million, accounting for about 47% of total revenues.

Revenue Breakdown

Service Packages

Carriage Services offers a variety of service packages tailored to meet customer needs. These packages can range from basic cremation services priced around $1,000 to full-service funeral packages that can exceed $10,000.

Additional Revenue Streams

In addition to traditional services, Carriage Services generates income through:

• Merchandise sales, including caskets and urns.
• Pre-need sales, allowing families to purchase services in advance.
• Insurance products related to funeral services.

Financial Performance Metrics

In 2022, Carriage Services reported an EBITDA margin of approximately 21.5% and a net income of $14.4 million.

Market Presence

As of the end of 2022, Carriage Services operated over 200 funeral homes and more than 30 cemeteries across the United States.

Client Demographics

Carriage Services targets a diverse demographic, primarily serving individuals aged 65 and older, who account for a significant portion of its customer base.

Growth Strategies

The company focuses on growth through acquisitions, aiming to increase its market share within the funeral and cemetery services industry. In 2023, Carriage Services announced the acquisition of 5 additional funeral homes.

Stock Performance

As of October 2023, Carriage Services’ stock price is approximately $36.50, with a market capitalization of around $700 million.

Future Projections

Analysts predict continued growth, expecting a compound annual growth rate (CAGR) of 5% to 7% over the next five years in the funeral services sector.