0001016281-26-000037
SEC filingQ1 revenue held nearly flat at $106.1M despite comparable contract volume declines primarily driven by lower funeral volumes, while gross profit rose 2.1% to $38.6M with 36.4% margin from effective field cost management; profitability declined as prior-year divestiture gains faded.
Gross
Gross profit improved 2.1% to $38.6 million, expanding the gross margin to 36.4% from the prior period. This resilience stems from effective field cost management that mitigated topline softness and supported profitability at the gross level despite revenue headwinds.
Operating income decreased 19.9% to $25.3 million, yielding a 23.8% operating margin. The decline reflects the absence of prior-year divestiture gains, which had bolstered the comparable period, alongside typical operating expenses. This underscores the impact of non-recurring items on year-over-year comparability.
Net income fell 35.5% to $13.5 million, with diluted EPS of $0.84 compared to $1.34. The sharper drop ties to the combination of lower operating results and the prior-year benefits no longer present, pressuring bottom-line earnings.