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StoneMor Partners Q3 loss widens YOY

StoneMor Partners L.P. said its third-quarter normalized net income came to a loss of 20 cents per share, compared with a loss of 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.9 million, compared with a loss of $2.8 million in the year-earlier period.

The normalized profit margin dropped to negative 7.4% from negative 3.5% in the year-earlier period.

Total revenue declined on an annual basis to $78.5 million from $81.8 million, and total operating expenses climbed 8.2% on an annual basis to $83.9 million from $77.5 million.

Reported net income totaled a loss of $11.4 million, or a loss of 32 cents per share, compared to a loss of $4.4 million, or a loss of 14 cents per share, in the prior-year period.