Company Reports Q1 Revenue of $1.1B, Beating Expectations
Reports Q1 revenue $1.1B, consensus $1.09B. Tom Ryan, the company's Chairman and CEO, commented on the first quarter performance: "Today, we reported adjusted earnings per share of $0.97 and net cash provided by operating activities of $333.8 million. Comparable funeral service volumes declined 6% year-over-year, reflecting the impact of a particularly strong prior year flu season and aligning with broader demographic trends. Despite this, the company delivered solid underlying performance driven by a resilient average revenue per service and disciplined cost management, with expenses increasing approximately 1% year-over-year. In addition, preneed funeral sales production remained strong, increasing 6% for the period. In our cemetery segment, we delivered a strong performance, highlighted by 10% growth in comparable preneed cemetery sales production. This higher production drove 7% growth in comparable cemetery revenue and a 120 basis point improvement in cemetery gross profit. We remain focused on executing our long-term growth strategy-growing revenue, leveraging our scale, and allocating capital in a disciplined way to enhance shareholder value. While funeral volumes may continue to fluctuate in the near term, they have historically been stable over the longer-term. Overall, we are proud of how our teams executed in what was a challenging operating environment. I would like to thank our 25,000 associates for their unwavering commitment to serving client families with care and excellence that have made these results possible."
