Revenue Growth
Total operating revenue for the quarter grew to $101.3 million, an increase of 5.2% over the same period last year, driven by a 21.4% year-over-year increase in preneed cemetery sales.
Insurance-Funded Preneed Sales
Insurance-funded prearranged funeral sales showed significant progress, with September setting an all-time high and surpassing the $7 million mark.
Cemetery Segment Performance
Cemetery segment operating revenue reached $35.6 million, an increase of $4 million or 12.6% year-over-year.
Adjusted Consolidated EBITDA Growth
Adjusted consolidated EBITDA grew to $33 million, up $2.2 million or 7.3% versus last year, with an adjusted EBITDA margin expansion of 160 basis points to 32.1%.
Acquisition Activity
Welcomed new acquisitions including Faith Chapel Funeral Homes and Crematory and Osceola Memory Gardens Cemetery Funeral Homes and Crematory, among others, indicating strategic growth.
Debt Reduction
Leverage ratio improved to 4.1x this quarter, down from 4.2x last quarter, with debt reduced by approximately $5.1 million compared to last year's third quarter.