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StoneMor Partners Q4 loss widens 28.3% YOY

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StoneMor Partners Q4 loss widens 28.3% YOY

StoneMor Partners LP said its fourth-quarter normalized net income was a loss of 15 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 12 cents per share.

The per-share loss widened 17.6% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.9 million, compared with a loss of $3.8 million in the prior-year period.

The normalized profit margin fell to negative 4.8% from negative 4.3% in the year-earlier period.

Total revenue declined 11.7% year over year to $79.2 million from $89.7 million, and total operating expenses fell 6.0% from the prior-year period to $81.5 million from $86.8 million.

Reported net income came to a loss of $7.2 million, or a loss of 23 cents per share, compared to a loss of $8.0 million, or a loss of 28 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 43 cents per share, compared with a loss of 27 cents per share in the prior year.

Normalized net income was a loss of $13.0 million, compared with a loss of $7.2 million in the prior year.

Full-year total revenue increased year over year to $305.6 million from $300.4 million, and total operating expenses grew 6.1% on an annual basis to $304.3 million from $286.9 million.

The company said reported net income totaled a loss of $24.1 million, or a loss of 79 cents per share, in the full year, compared with a loss of $12.0 million, or a loss of 45 cents per share, the prior year.