Filing Flows › Carriage Services (CSV) › Q4 2025
Carriage Services (CSV) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Carriage Services (CSV) reported revenue of $105M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +3% from the quarter before. Operating margin was 23.3%, net earnings $12.3M (11.6% of revenue).
Carriage Services, Q4 2025: revenue $105M (+8% year over year), operating margin 23.3%, net earnings $12.3M, operating cash flow $14.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $105M | +3% | +8% |
| Gross profit | $36.7M | +1% | +9% |
| Operating profit | $24.6M | +40% | +17% |
| Net earnings | $12.3M | +87% | +25% |
| Operating cash flow | $14.1M | -43% | +52% |
| Free cash flow | $6.2M | — | +27% |
What changed
Revenue was $105.5M in Q4 2025, up 8% year over year and up 3% from the previous quarter. Property and merchandise revenue was the largest line at 45% of revenue.
Gross margin was 34.8%, up 0.3 points from a year earlier. Operating profit was $24.6M, a 23.3% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 45% reached operating profit, above the 22% margin then. Operating expenses fell 4% while revenue rose 8%. Net earnings were $12.3M, up 25% year over year. The effective tax rate was 13.2%.
Operating cash flow was $14.1M (up 52% year over year), 115% of net earnings. Non-cash charges added back $6.4M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $6.5M. After cash used for capital expenditures ($7.9M), free cash flow as the company reports it was $6.2M.
Questions
What was Carriage Services' revenue in the fourth quarter 2025?
Carriage Services (CSV) reported revenue of $105M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +3% from the quarter before.
Was Carriage Services profitable in the fourth quarter 2025?
Operating profit was $24.6M (23.3% of revenue) and net earnings $12.3M.
Source: Carriage Services 10-K on SEC EDGAR.