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Carriage Services profit misses consensus by 24.4% in Q3

Carriage Services Inc. said its normalized net income for the third quarter amounted to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS increased 14.6% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.9 million, an increase of 8.4% from $4.5 million in the year-earlier period.

The normalized profit margin increased to 9.3% from 7.8% in the year-earlier period.

Total revenue rose year over year to $60.1 million from $58.4 million, and total operating expenses climbed year over year to $48.4 million from $47.7 million.

Reported net income rose 30.0% from the prior-year period to $5.6 million, or 33 cents per share, from $4.3 million, or 24 cents per share.