The following is a summary of the Carriage Services, Inc (CSV) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 revenue grew by 4.8% to $102.3 million, marking the second time the company surpassed $100 million in a quarter.

• Preneed cemetery sales increased by 31.1%, and funeral average revenue per contract rose by $212 or 4%.

• Net income decreased by $2 million, but adjusted net income showed a 20.1% increase once adjusted for nonrecurring expenses.

• Total funeral operating revenue slightly decreased by 0.9% to $59.2 million due to a volume decline.

• Cemetery operating revenue increased by 20.6% to $34.8 million with a significant 32.6% rise in cemetery field EBITDA.

• Financial revenue grew by 16.9% to $7.1 million, driven by a 251% increase in general agent commissions from preneed funeral sales.

Business Progress:

• Executed strategic objectives leading to solid financial performance, including enhancements in funeral service pricing strategies and preneed sales.

• Continued emphasis on disciplined capital allocation and supply chain strategy improvements.

• Optimizing operational efficiencies through reengineering supply chain strategies, expecting phased results starting in 2025.

Opportunities:

• Expanding cemetery operations and leveraging strategic innovations in funeral service offerings provide significant growth opportunities.

• Expected savings from reengineered supply chain strategies in merchandise procurement could further boost profitability.

Risks:

• Potential fluctuations in volume continue, with expected normalization by Q1 2025.

More details: Carriage Services IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.