Carriage Services Inc. (NYSE:CSV) Q1 2020 Earnings Conference Call - Final Transcript

May 20, 2020 • 10:30 am ET

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Carriage Services Inc. (NYSE:CSV) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Carriage Services First Quarter 2020 Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question and answer session [Operator Instruction] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to Carriage Services Management. Please go ahead.

Executive
Viki Blinderman

Thank you, and good morning everyone. This is Viki Blinderman, Chief Accounting Officer at Carriage Services. Today we'll be discussing the company's first quarter results for 2020. Our related earnings release was made public yesterday after the market closed.

Carriage Services has posted a press release, including supplemental financial tables and information on the investors page of our website. The audio conference is being recorded and archive will be made available on our website later today through May 25th. Replay information for the call can be found in the press release distributed yesterday.

On the call today from the management are Mel Payne, Chairman and Chief Executive Officer; Bill Goetz, President and Chief Operating Officer; and Ben Brink, Chief Financial Officer. Today's call will begin with formal remarks from management followed by a question-and-answer period.

Before we begin, I would like to remind everyone that during this call we will make forward-looking statements. Certain statements on this call, including financial estimates, assumptions or statements about our plans, future results, expectations or beliefs, may constitute forward-looking statements under applicable securities laws. We make these statements on the basis of our reviews and assumptions regarding future events, business performance and other factors at the time we make. We make them and do not undertake any obligation to provide updates or revise any of these forward-looking statements after the date of this call, whether to reflect the occurrence of events, circumstances or changes in expectations except as required by law. These forward-looking statements are subject to a number of risks and uncertainties and actual results may differ materially from the results expressed or implied in light of a variety of factors, including factors contained in our annual report on Form 10-K, quarterly reports on Form 10-Q and in our other filings with the SEC. Please note that a reconciliation of non-GAAP measures that may be referred to on this call to equivalent GAAP measures can be found in our earnings press release that was issued yesterday and on the company's website.

And with that, I'd like to turn the call over to Mel.

Executive
Mel Payne

Thank you, Viki. Jim Collins in his famous bestseller Good to Great offered a simple, but profound truth about leadership, in taking a company from good to great, which was first to then what. Meaning get the right people on your enterprise bus, the wrong people off your enterprise bus, the right people in the right seats on your enterprise bus, before you begin the journey of driving your enterprise bus to a sustained great performance destination.

Coming into 2020 and after two