Carriage services announces first quarter 2023 results

Houston, may 03, 2023 (globe newswire) -- carriage services, inc. (nyse: csv) today announced its financial results for the first quarter ended march 31, 2023. company highlights: outperformed first quarter 2023 financial expectations amid uncertainty against an elevated covid-19 first quarter 2022 comparable; cemetery operating revenue increased to $21.6 million, or ~6%, driven by growth in preneed sales; closed the acquisition of greenlawn funeral homes and cemeteries (2022 revenue of ~$18 million), gaining access to ~40% of market share in bakersfield, california by adding three funeral homes, two cemeteries, and a cremation focused business; appointed kian granmayeh as executive vice president, chief financial officer and treasurer; and reaffirms full-year 2023 outlook of $375-$385 million in total revenue, adjusted consolidated ebitda of $110-$115 million, adjusted diluted earnings per share of $2.25-$2.40 and adjusted free cash flow of $50-60 million.
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