Carriage Services

-14.03%

Carriage Services has suffered a dramatic sell-off, but could this beaten-down stock be approaching an attractive value-investing opportunity? On November 9, 2026, shares traded around $28.78, recovering from Friday’s $26.80 close but still approximately 45% below the 52-week high of $52.10. The latest quarterly results explain investor disappointment. Third-quarter revenue declined 2.4% to $100.3 million, missing expectations. Adjusted earnings per share dropped from $0.75 to $0.59. Operating income, however, increased 10.8% to $19.4 million, lifting the operating margin from 17% to 19.3%. The bigger problem was management lowering its 2026 forecast: expected revenue is now $415–420 million, while adjusted earnings per share are projected at $2.90–3.05. Weaker cemetery sales, lower mortality rates and additional trust taxes contributed to the downgrade. There is some upside: acquisitions representing more than $14 million in annual revenue are under contract or consideration. The quarterly dividend remains $0.1125, unchanged since 2023. At roughly ten times trailing earnings, valuation looks interesting. But weaker guidance and execution risks could delay recovery. This review is for informational and educational purposes only, not financial advice.