CARRIAGE SERVICES INC
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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.
Mar 31, 2026 · Filed May 7, 2026
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6. Receivables
- RECEIVABLES
Accounts Receivable
Our funeral receivables are recorded in Accounts receivable, net and primarily consist of amounts due for funeral services already performed.
Atneed cemetery receivables and preneed cemetery receivables with payments expected to be received within one year from the balance sheet date are also recorded in Accounts receivable, net. Preneed cemetery receivables with payments expected to be received beyond one year from the balance sheet date are recorded in Preneed cemetery receivables, net.
Accounts receivable is comprised of the following (in thousands):
| March 31, 2026 | ||||
|---|---|---|---|---|
| Column1 | Funeral | Cemetery | Corporate | Total |
| Trade and financed receivables | $6,123 | $32,283 | $— | $38,406 |
| Other receivables | 910 | 3,573 | 1,864 | 6,347 |
| Allowance for credit losses | (324) | (2,258) | — | (2,582) |
| Accounts receivable, net | $6,709 | $33,598 | $1,864 | $42,171 |
| December 31, 2025 | ||||
|---|---|---|---|---|
| Column1 | Funeral | Cemetery | Corporate | Total |
| Trade and financed receivables | $7,369 | $31,267 | $— | $38,636 |
| Other receivables | 1,245 | 2,614 | 1,726 | 5,585 |
| Allowance for credit losses | (363) | (3,211) | — | (3,574) |
| Accounts receivable, net | $8,251 | $30,670 | $1,726 | $40,647 |
Other receivables include supplier rebates, commissions due from third-party insurance companies and perpetual care income receivables.
The following table summarizes the activity in our allowance for credit losses by portfolio segment for the three months ended March 31, 2026 (in thousands):
| January 1, 2026 | Provision for Credit Losses | Write Offs | Recoveries | March 31, 2026 | |
|---|---|---|---|---|---|
| Trade and financed receivables: | |||||
| Funeral | $(363) | $(92) | $335 | $(204) | $(324) |
| Cemetery | (3,211) | (308) | 1,261 | — | (2,258) |
| Total allowance for credit losses on trade and financed receivables | $(3,574) | $(400) | $1,596 | $(204) | $(2,582) |
Cemetery Receivables
Our cemetery receivables are comprised of the following (in thousands):
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| Interment rights | $101,755 | $99,741 |
| Merchandise and services | 17,666 | 17,761 |
| Unearned finance charges | 4,881 | 4,805 |
| Cemetery receivables | $124,302 | $122,307 |
The components of our cemetery receivables are as follows (in thousands):
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| Cemetery receivables | $124,302 | $122,307 |
| Less: unearned finance charges | (4,881) | (4,805) |
| Cemetery receivables, at amortized cost | $119,421 | $117,502 |
| Less: allowance for contract cancellation and credit losses | (5,959) | (5,812) |
| Less: balances due on undelivered cemetery preneed contracts | (16,789) | (16,579) |
| Less: amounts in accounts receivable | (30,025) | (28,056) |
| Preneed cemetery receivables, net | $66,648 | $67,055 |
The following table summarizes the activity in our allowance for credit losses for Preneed cemetery receivables, net for the three months ended March 31, 2026 (in thousands):
| January 1, 2026 | Provision for Credit Losses | Write Offs | March 31, 2026 | |
|---|---|---|---|---|
| Total allowance for credit losses on Preneed cemetery receivables, net | $(2,601) | $(536) | $(565) | $(3,702) |
The amortized cost basis of our cemetery receivables by year of origination as of March 31, 2026 is as follows (in thousands):
| 2026 | 2025 | 2024 | 2023 | 2022 | Prior | Total | |
|---|---|---|---|---|---|---|---|
| Total cemetery receivables, at amortized cost | $19,451 | $49,590 | $30,204 | $12,323 | $5,806 | $2,047 | $119,421 |
The aging of past due cemetery receivables as of March 31, 2026 is as follows (in thousands):
| 31-60 Past Due | 61-90 Past Due | 91-120 Past Due | >120 Past Due | Total Past Due | Current | Total | |
|---|---|---|---|---|---|---|---|
| Recognized revenue | $3,065 | $1,242 | $786 | $5,945 | $11,038 | $91,594 | $102,632 |
| Deferred revenue | 521 | 190 | 222 | 2,758 | 3,691 | 17,979 | 21,670 |
| Total contracts | $3,586 | $1,432 | $1,008 | $8,703 | $14,729 | $109,573 | $124,302 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.