Tag: Mel Payne

Finance

Carriage Services’ Mel Payne “We went big, we went bold, we went long term”

We reported back in February on Carriage Services’ 2019 4th Quarter and their 2019 year end report.  We told you at that time we would be listening for their Earnings Call and would eventually report on that as well.  You can access the entire earnings call from this web page.  Here are some interesting comments from Carriage Services executives that we bring to you: From William W. Goetz, the newly hired President and Chief Operating Officer of Carriage Services on […]

Finance

Carriage Services adds Texas location

It was announced yesterday in this press release that funeral home and cemetery consolidator Carriage Services had acquired the Rest Haven Funeral Home and Cemetery, based in Rockwall, Texas.  The press release went on to say that this purchase represents Carriage Service’s first foray into the large and strategic market of Dallas-Fort Worth. Again, according to the press release, Rest Haven has been in business for fifty years and also has locations in Rowlett and Royse City, Texas.  The press […]

Finance

Carriage Services 1st Quarter — Total Revenue Drops

Houston based funeral home and cemetery consolidator and operator Carriage Services reported its 1st Quarter 2019 results yesterday.  Their report somewhat parroted industry leader Service Corporation International’s report from a week ago in that “Same Unit” revenues dropped.  In Carriage’s case, however, even with new acquisition revenue added in, their 2019 revenues of $69.1 million was a 5.9% decrease in total revenue as compared to 2018’s 1st Quarter revenue of $73.3 million. You can read the press release from Carriage […]

Finance

Carriage Services featured in Seeking Alpha article

Author Noam Ganel wrote an article for Seeking Alpha entitled, “The Case for (and against) owning shares in Carriage Services” which was published on April 15.  You can read the article here. Funeral Director Daily take:  This is an interesting article that, in my opinion, the author researched well.  You may or may not like his take, but he does say that he has purchased shares in Carriage Services.  In our opinion, Ganel, unlike many stock pickers, seems to understand […]

Finance

Carriage Services – Behind the Numbers

You only have to read the first page of Carriage Service’s press release, which you can read here, to understand that CEO Mel Payne was not thrilled with Carriage’s 2nd quarter numbers.  The third paragraph of the release states, “We have complete confidence that our operating leadership is effectively dealing with the revenue and margin challenges in our funeral portfolio and that we will experience broadly higher performance during the latter part of the second half of the year compared […]

Finance

Carriage Services 2Q Report Drops Stock Price

Carriage Services, the Houston based funeral home and cemetery consolidator and operator announced 2nd Quarter 2018 earnings yesterday and with that report, that you can access here, found their common stock losing about 5% of its value.  Analysts had predicted earnings in the range of about $0.37 per share and the report brought earnings in for the quarter at only $0.22 per share.  The stock closed at $23.15 per share, off over 5% on the day. Carriage Services stock had […]

Finance

Carriage Services adds two locations in Mid-Atlantic Area

Last week Carriage Services, a funeral service public company based in Houston, Texas, announced that they had acquired two funeral homes in the State of Virginia.  You can read the press release here. The release announces the acquisition of the Covenant Funeral Homes in Fredericksburg and Stafford, Virginia.  The release goes on to say that these firms serve over 1,000 families annually in the highly growing markets southwest of Washington, DC. Mel Payne, CEO of Carriage Services, is quoted, “Partnering […]