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StoneMor Partners Q2 loss widens YOY

StoneMor Partners LP said its second-quarter normalized net income came to a loss of 9 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss increased year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.5 million, compared with a loss of $392,250 in the year-earlier period.

The normalized profit margin fell to negative 4.3% from negative 0.5% in the year-earlier period.

Total revenue rose 13.0% year over year to $80.8 million from $71.5 million, and total operating expenses grew 18.2% year over year to $79.2 million from $67.0 million.

Reported net income came to a loss of $4.7 million, or a loss of 16 cents per share, compared to a loss of $109,000, or a loss of 0 cents per share, in the year-earlier period.