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Carriage Services Q1 profit climbs 70.8% YOY

Carriage Services Inc. said its first-quarter normalized net income was 37 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS increased 64.8% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.9 million, an increase of 70.8% from $4.0 million in the year-earlier period.

The normalized profit margin climbed to 10.9% from 7.2% in the year-earlier period.

Total revenue climbed 13.7% year over year to $63.3 million from $55.7 million, and total operating expenses increased year over year to $48.7 million from $47.3 million.

Reported net income grew year over year to $6.4 million, or 34 cents per share, from $1.6 million, or 9 cents per share.