Carriage Services ends $100M equity program, resets capital plan
What's the deal? Carriage ServicesDealroom has a profile for this one. Try Dealroom →, a US funeral and cemetery operator, terminated its $100 million at-the-market equity program effective October 4, 2026. It announced the move on September 30, pairing it with a new $300 million revolving credit facility and a lower leverage target.
Why now? The company closed the $300 million senior secured facility on September 30, replacing a $250 million facility and adding $50 million in committed capacity. The new agreement runs to September 30, 2031.
What's the endgame? Carriage Services lowered its targeted leverage ratio from 3.5x-4.0x to 3.0x-3.5x. It named core-business investment, debt reduction, selective acquisitions, and share repurchases as priorities.
The shift also positions the company ahead of the May 2029 maturity of $400 million in 4.25% senior notes. That timetable gives the leverage target a concrete balance-sheet purpose.
By the numbers: Second-quarter 2026 revenue was $102.95 million, down from $106.12 million in the prior quarter. Diluted earnings per share were $0.77, versus $0.84.
The stock traded at €30.30 at Lang & SchwarzDealroom has a profile for this one. Try Dealroom → on October 8, 2026, up 0.33% from the prior close of €30.20. Market capitalisation stood at $539.3 million.
The signal: By ending the equity program and expanding secured credit, Carriage Services is leaning on debt capacity and a tighter leverage band rather than share issuance. For a small-cap operator facing a 2029 note maturity, the move keeps refinancing costs central to the investment case.
Read more: ad-hoc-news.de
