Operates in a large industry marked by modestly favorable long-term market conditions; and Garners scale efficiencies as a fairly large provider of funeral, cremation, and cemetery services and merchandise. Has limited options to meaningfully expand its market for death care services and merchandise; Faces difficult demand conditions in North America because of a relatively flat death rate; and Faces rising consumer preference for cremation services, which generate less revenue than traditional funeral services. The low-speculative-grade ratings on Carriage Services Inc. reflect the funeral home operator's significant financial burden in an industry that, though fairly predictable, is subject to operating uncertainties. The Houston, Texas-based Carriage network of 133 funeral homes in 28 states and 29 cemeteries in 12 states is the
