Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Carriage Services (NYSE:CSV) and the best and worst performers in the specialized consumer services industry.
Some consumer discretionary companies don’t fall neatly into a category because their products or services are unique. Although their offerings may be niche, these companies have often found more efficient or technology-enabled ways of doing or selling something that has existed for a while. Technology can be a double-edged sword, though, as it may lower the barriers to entry for new competitors and allow them to do serve customers better.
The 9 specialized consumer services stocks we track reported a weaker Q2; on average, revenues missed analyst consensus estimates by 0.8%. while next quarter's revenue guidance was in line with consensus. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. 2024 has seen more volatile stock performance due to mixed inflation data, and while some of the specialized consumer services stocks have fared somewhat better than others, they collectively declined, with share prices falling 4.1% on average since the previous earnings results.
Best Q2: Carriage Services (NYSE:CSV) Established in 1991, Carriage Services (NYSE:CSV) is a provider of funeral and cemetery services in the United States.
Carriage Services reported revenues of $102.3 million, up 4.8% year on year, exceeding analysts' expectations by 7.7%. Overall, it was a strong quarter for the company with full-year revenue guidance exceeding analysts' expectations.
Carlos Quezada, Vice Chairman and CEO, stated, “We are excited to share that our continued focus on executing our five-year strategic objectives has delivered another solid performance in the second quarter of 2024. Our preneed cemetery sales team delivered another remarkable 31.1% year-over-year increase in preneed sales, highlighting the continued effectiveness of our cemetery sales growth plan. This cemetery performance, in addition to an increase of 4.0% in our funeral average revenue per contract, contributed significantly to our total revenue growth of 4.8% compared to the prior-year quarter.
Carriage Services achieved the biggest analyst estimates beat and highest full-year guidance raise of the whole group. The stock is down 6.6% since reporting and currently trades at $30.
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ADT (NYSE:ADT) Founded in 1874 and headquartered in Boca Raton, Florida, ADT (NYSE:ADT) is a provider of security, automation, and smart home solutions, offering comprehensive services for home and business protection.
ADT reported revenues of $1.20 billion, up 3.1% year on year, in line with analysts' expectations. It was a solid quarter for the company with an impressive beat of analysts' earnings estimates and in-line earnings guidance for the full year.
Although it had a great quarter compared its peers, the market seems unhappy with the results as the stock is down 6.5% since reporting. It currently trades at $7.27.
Weakest Q2: Matthews (NASDAQ:MATW) Originally a death care company, Matthews International (NASDAQ:MATW) is a diversified company offering ceremonial services, brand solutions and industrial technologies.
Matthews reported revenues of $427.8 million, down 10.9% year on year, falling short of analysts' expectations by 10%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
Matthews had the weakest performance against analyst estimates in the group. As expected, the stock is down 7.7% since the results and currently trades at $25.89.
WeightWatchers (NASDAQ:WW) Known by many for its old cable television commercials, WeightWatchers (NASDAQ:WW) is a wellness company offering a range of products and services promoting weight loss and healthy habits.
WeightWatchers reported revenues of $202.1 million, down 10.9% year on year, falling short of analysts' expectations by 3.3%. Zooming out, it was a weak quarter for the company with full-year revenue guidance missing analysts' expectations and a miss of analysts' earnings estimates.
WeightWatchers had the slowest revenue growth and weakest full-year guidance update among its peers. The stock is down 29.7% since reporting and currently trades at $0.75.
Pool (NASDAQ:POOL) Founded in 1993 and headquartered in Louisiana, Pool (NASDAQ:POOL) is one of the largest wholesale distributors of swimming pool supplies, equipment, and related leisure products.
Pool reported revenues of $1.77 billion, down 4.7% year on year, surpassing analysts' expectations by 1.5%. It was a decent quarter for the company with a solid beat of analysts' organic revenue estimates.
The stock is up 7.6% since reporting and currently trades at $351.06.
This content was originally published on Stock Story
