Carriage Services outlined its long-term strategic framework, built on three pillars: Disciplined Capital Allocation, Purposeful Growth, and Relentless Improvement. The company targets a leverage ratio of 3.5x-4.0x and a Return on Invested Capital (ROIC) of 15-20%, alongside divestitures of underperforming assets.
Under Purposeful Growth, Carriage aims for a 5-8% organic revenue Compound Annual Growth Rate (CAGR), $50-$100 million in annual strategic inorganic capital deployment, and a 5% gain in cremation market share. The company plans an active M&A strategy with complementary assets.
Relentless Improvement focuses on the evolution of legacy systems with the Trinity ERP, elimination of manual processes, and automation. Transformational initiatives include enhancing local brands, maximizing evolving consumer preferences, and intensifying pre-need funeral and cemetery sales. The company also announced the creation of a Director of Customer Care role to elevate service excellence.
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