Carriage Services Announces Capital Allocation Framework and Terminates $100 Million At-the-Market Equity Program
Carriage Services announced a capital allocation framework headlined by termination of its $100 million at-the-market equity program effective October 4, 2026. Management said issuing equity at current valuations would not reflect intrinsic value and signaled it may repurchase shares when it sees a meaningful performance-to-valuation disconnect.
Key figures
- Cemeteries
- 28
- New revolver
- $300 million
- Funeral homes
- 155
- Prior revolver
- $250 million
- Atm program size
- $100 million
- Leverage target new
- 3.0x-3.5x
- Senior notes coupon
- 4.25%
- Leverage target prior
- 3.5x-4.0x
- Senior notes outstanding
- $400 million
AI analysis
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