CARRIAGE SERVICES INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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8. Earnings Per Share
- EARNINGS PER SHARE
The following table sets forth the computation of the basic and diluted earnings per share (in thousands, except per share data):
| Year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Numerator for basic and diluted earnings per share: | |||
| Net income | $51,507 | $32,953 | $33,413 |
| Less: Earnings allocated to unvested restricted stock | (687) | (432) | (306) |
| Income attributable to common stockholders | $50,820 | $32,521 | $33,107 |
| Denominator: | |||
| Denominator for basic earnings per common share – weighted average shares outstanding | 15,428 | 14,971 | 14,803 |
| Effect of dilutive securities: | |||
| Stock options | 206 | 56 | 55 |
| Performance awards | — | 416 | 597 |
| Denominator for diluted earnings per common share – weighted average shares outstanding | 15,634 | 15,443 | 15,455 |
| Basic earnings per common share: | $3.29 | $2.17 | $2.24 |
| Diluted earnings per common share: | $3.25 | $2.10 | $2.14 |
Stock options excluded from the computation of diluted earnings per share because the inclusion of such stock options would result in an antidilutive effect are as follows (in thousands):
| Year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Antidilutive stock options | 223 | 1,143 | 1,208 |
Share-based awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities and included in the computation of both basic and diluted earnings per share. Our grants of stock awards to our employees are considered participating securities and we have prepared our earnings per share calculations to exclude earnings allocated to unvested restricted stock awards, using the two-class method, in the basic and diluted weighted average shares outstanding calculation.
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