卡里奇服务公司 2025年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedSeptember30, 2025OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ___________to____________ Commission File Number:1-11961 CARRIAGE SERVICES, INC.(Exact name of registrant as specified in its charter) 76-0423828(I.R.S. EmployerIdentification No.) 3040 Post Oak Boulevard,Suite 300Houston,Texas,77056(Address of principal executive offices)(713)332-8400(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted andposted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitand post such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the SecuritiesExchange Act of 1934. Accelerated filer☒Smallerreportingcompany☐Emerging growthcompany☐ Largeacceleratedfiler☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒The number of shares of the registrant’s Common Stock, $.01 par value per share, outstanding as of October30, 2025 was15,745,193. CARRIAGE SERVICES, INC. INDEX PART I – FINANCIAL INFORMATIONItem1. Financial StatementsUnauditedCondensedConsolidated Balance Sheets as ofSeptember30, 2025 and December31, 2024UnauditedCondensedConsolidated Statements of Operations for the Three andNineMonths endedSeptember30, 2025and 2024UnauditedCondensedConsolidated Statements of Cash Flows for theNineMonths endedSeptember30, 2025 and 2024UnauditedCondensedConsolidated Statements of Changes in Stockholders' Equity for the Three andNineMonthsendedSeptember30, 2025 and 2024UnauditedCondensed Notes to Consolidated Financial Statements1. Basis of Presentation and Summary of Significant Accounting Policies2.Recently Issued Accounting Standards3. Business Combinations4. Goodwill5. Divested Operations6. Receivables7. Fair Value Measurements8. Trust Investments9. Receivables from Preneed Trusts10. Credit Facility and Acquisition Debt11. Senior Notes12. Earnings Per Share13. Segment ReportingCautionary Statement on Forward–Looking StatementsItem2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3. Quantitative and Qualitative Disclosures About Market RiskItem4. Controls and ProceduresPART II – OTHER INFORMATIONItem1. Legal ProceedingsItem1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem6. ExhibitsSIGNATUREINDEX OF EXHIBITS PART I – FINANCIAL INFORMATION CARRIAGE SERVICES, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(unaudited and in thousands, except share data) CARRIAGE SERVICES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited and in thousands) NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1.BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company Carriage Services, Inc. (“Carriage,” the “Company,” “we,” “us,” or “our”) is a leading provider of funeral and cemetery services andmerchandise in the United States. Our operations are reported intwobusiness segments: Funeral Home Operations, which currentlyaccounts for approximately70% of our total revenue and Cemetery Operations, which currently accounts for approximately30% of ourtotal revenue. At September30, 2025, we operated159funeral homes in24states and28cemeteries in9states. Our funeral home operations are principally service businesses that generate revenue from sales of burial and cremation services andrelated merchandise, such as caskets and urns. Funeral services include consultation, the removal and preparation of remains, th