v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Our Chief Operating Decision Maker (the “CODM”), who is the Chief Executive Officer, utilizes segment adjusted operating profit for resource allocation across segments, particularly during the annual budgeting and forecasting processes. The CODM examines variances on a monthly basis to make informed decisions regarding capital and personnel distribution among segments. Additionally, the CODM employs segment gross profit for product pricing evaluation and uses segment adjusted operating profit to assess each segment’s performance by comparing results and return on assets against expected outcomes. The CODM does not review disaggregated assets by segment; therefore assets by segment are not provided.
The tables below present revenue, disaggregated by major source for each of our reportable segments, as well as, significant segment expenses, other segment expenses, operating income (loss), depreciation and amortization, regional and unallocated funeral and cemetery costs, and gross profit by segment as follows: (in thousands) for the three and six months ended June 30, 2026 and 2025, respectively:
Three months ended June 30, 2026FuneralCemeteryTotal
Revenue
Services$40,414 $5,191 $45,605 
Merchandise17,912 4,433 22,345 
Cemetery property— 24,804 24,804 
Other revenue7,366 2,829 10,195 
Total revenue$65,692 $37,257 $102,949 
Less:
Salaries, benefits, and commission expenses$17,607 $11,221 $28,828 
Cost of merchandise3,328 2,069 5,397 
Allocated overhead costs(1)
3,039 1,244 4,283 
Facilities and grounds expenses2,774 1,564 4,338 
General and administrative expenses(2)
2,818 1,024 3,842 
Other segment expenses(3)
8,946 2,133 11,079 
Adjusted operating profit (4)
$27,180 $18,002 $45,182 
Reconciliation of Adjusted operating profit margin to Gross profit
Cemetery property amortization$— $3,129 $3,129 
Field depreciation expense2,829 528 3,357 
Regional and unallocated funeral and cemetery costs2,096 1,556 3,652 
Gross profit$22,255 $12,789 $35,044 
Corporate costs and expenses:
General and administrative expenses$11,001 
Net loss on divestitures and impairment charges90 
Operating income$23,953 
Interest expense$6,683 
Other, net113 
Income before income taxes$17,157 
(1) Allocated overhead costs include: property insurance costs, property tax expenses, and corporate overhead fees allocated to the field, such as information technology, human resources, legal, and finance.
(2) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses, and office supplies.
(3) Other segment expenses primarily include transportation costs, other funeral costs, and non-payroll related promotional costs.
(4) During the first quarter of 2026, the Company changed its measure of segment profit from segment operating income to segment adjusted operating profit. The change reflects how management now evaluates segment performance and allocates resources. The change primarily relates to the exclusion of depreciation, amortization, and certain corporate allocations. Prior-period amounts have been recast for comparability.
Three months ended June 30, 2025FuneralCemeteryTotal
Revenue
Services$41,308 $5,202 $46,510 
Merchandise18,264 4,330 22,594 
Cemetery property— 23,919 23,919 
Other revenue5,675 3,449 9,124 
Total revenue$65,247 $36,900 $102,147 
Less:
Salaries, benefits, and commission expenses$17,011 $10,533 $27,544 
Cost of merchandise5,276 2,135 7,411 
Allocated overhead costs(1)
3,387 1,367 4,754 
Facilities and grounds expenses2,709 1,561 4,270 
General and administrative expenses(2)
2,703 956 3,659 
Other segment expenses(3)
7,911 1,874 9,785 
Adjusted operating profit (4)
$26,250 $18,474 $44,724 
Reconciliation of Adjusted operating profit margin to Gross profit
Cemetery property amortization$— $2,241 $2,241 
Field depreciation expense2,835 453 3,288 
Regional and unallocated funeral and cemetery costs1,736 1,524 3,260 
Gross profit$21,679 $14,256 $35,935 
Corporate costs and expenses:
General and administrative expenses$11,938 
Net loss on divestitures and impairment charges(1)
Operating income$23,998 
Interest expense$7,034 
Other, net107 
Income before income taxes$16,857 
(1) Allocated overhead costs include: property insurance costs, property tax expenses, and corporate overhead fees allocated to the field, such as information technology, human resources, legal and finance.
(2) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses, and office supplies.
(3) Other segment expenses primarily include transportation costs, other funeral costs, and non-payroll related promotional costs.
(4) During the first quarter of 2026, the Company changed its measure of segment profit from segment operating income to segment adjusted operating profit. The change reflects how management now evaluates segment performance and allocates resources. The change primarily relates to the exclusion of depreciation, amortization, and certain corporate allocations. Prior-period amounts have been recast for comparability.
Six months ended, June 30, 2026FuneralCemeteryTotal
Revenue
Services$85,906 $10,621 $96,527 
Merchandise38,425 8,598 47,023 
Cemetery property— 46,018 46,018 
Other revenue13,075 6,426 19,501 
Total revenue$137,406 $71,663 $209,069 
Less:
Salaries, benefits, and commission expenses
$35,480 $21,355 $56,835 
Cost of merchandise8,919 4,070 12,989 
Allocated overhead costs(1)
5,998 2,405 8,403 
Facilities and grounds expenses5,845 2,815 8,660 
General and administrative expenses(2)
6,246 2,077 8,323 
Other segment expenses(3)
16,140 4,103 20,243 
Adjusted operating profit (4)
$58,778 $34,838 $93,616 
Reconciliation of Adjusted operating profit to Gross profit
Cemetery property amortization$— $5,124 $5,124 
Field depreciation expense5,715 1,050 6,765 
Regional and unallocated funeral and cemetery costs4,427 3,616 8,043 
Gross profit$48,636 $25,048 $73,684 
Corporate costs and expenses:
General and administrative expenses$24,086 
Net loss on divestitures and impairment charges368 
Operating income$49,230 
Interest expense$13,567 
Other, net107 
Income before income taxes$35,556 
(1) Allocated overhead costs include: property insurance costs, property tax expenses, and corporate overhead fees allocated to the field, such as information technology, human resources, legal, and finance.
(2) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses, and office supplies.
(3) Other segment expenses primarily include transportation costs, other funeral costs, and non-payroll related promotional costs.
(4) During the first quarter of 2026, the Company changed its measure of segment profit from segment operating income to segment adjusted operating profit. The change reflects how management now evaluates segment performance and allocates resources. The change primarily relates to the exclusion of depreciation, amortization, and certain corporate allocations. Prior-period amounts have been recast for comparability.
Six months ended June 30, 2025FuneralCemeteryTotal
Revenue
Services89,257 10,263 $99,520 
Merchandise39,820 8,369 48,189 
Cemetery property— 43,910 43,910 
Other revenue10,789 6,808 17,597 
Total revenue139,866 69,350 209,216 
Less:
Salaries, benefits, and commission expenses
34,988 20,452 55,440 
Cost of merchandise11,547 3,961 15,508 
Allocated overhead costs(1)
6,613 2,699 9,312 
Facilities and grounds expenses5,638 2,765 8,403 
General and administrative expenses(2)
5,724 1,851 7,575 
Other segment expenses(3)
15,927 4,100 20,027 
Adjusted operating profit (4)
$59,429 $33,522 $92,951 
Reconciliation of Adjusted operating profit margin to Gross profit
Cemetery property amortization— 4,069 $4,069 
Field depreciation expense5,661 949 $6,610 
Regional and unallocated funeral and cemetery costs4,886 3,609 8,495 
Gross profit$48,882 $24,895 $73,777 
Corporate costs and expenses:
General and administrative expenses$23,986 
Net loss on divestitures and impairment charges(5,771)
Operating income$55,562 
Interest expense$14,332 
Other, net(1,881)
Income before income taxes$43,111 
(1) Allocated overhead costs include: property insurance costs, property tax expenses, and corporate overhead fees allocated to the field, such as information technology, human resources, legal, and finance.
(2) General and administrative expenses include: professional services, travel and meals expenses, computer software expenses, and office supplies.
(3) Other segment expenses primarily include transportation costs, other funeral costs, and non-payroll related promotional costs.
(4) During the first quarter of 2026, the Company changed its measure of segment profit from segment operating income to segment adjusted operating profit. The change reflects how management now evaluates segment performance and allocates resources. The change primarily relates to the exclusion of depreciation, amortization, and certain corporate allocations. Prior-period amounts have been recast for comparability.