CARRIAGE SERVICES INC
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
Contents
5. Divested Operations
- DIVESTED OPERATIONS
During the three months ended September 30, 2025, we sold seven funeral homes andone cemetery for an aggregate of $18.0 million. During the nine months ended September 30, 2025, we sold nine funeral homes andfour cemeteries for an aggregate of $33.8 million and mergedone funeral home with another business we own in an existing market.
During the three months ended September 30, 2024, we mergedtwo funeral homes with other businesses we own in existing markets. During the nine months ended September 30, 2024, we soldsix funeral homes andone cemetery for an aggregate of $10.9 million and merged three funeral homes with other businesses we own in existing markets.
The operating results of these divested funeral homes and cemeteries are reflected on our Consolidated Statements of Operations as shown in the table below (in thousands):
| Three months ended September 30, | Nine months ended, September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $1,401 | $25 | $7,849 | $1,383 |
| Operating income | 220 | (154) | 1,717 | 42 |
| Gain (loss) on divestitures(1) | (6,854) | 295 | 2,125 | (1,214) |
| Income tax (expense) benefit | 2,120 | (47) | (1,228) | 389 |
| Net gain (loss) from divested operations, after tax | $(4,514) | $94 | $2,614 | $(783) |
| (1) | Net loss on divestitures is recorded in Net loss on divestitures and impairment charges on our Consolidated Statements of Operations. |
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