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StoneMor Partners Q2 loss widens 41.9% YOY

StoneMor Partners L.P. said its normalized net income for the second quarter amounted to a loss of 15 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 4 cents per share.

The per-share loss increased 19.3% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.1 million, compared with a loss of $3.6 million in the year-earlier period.

The normalized profit margin declined to negative 7.3% from negative 4.3% in the year-earlier period.

Total revenue declined 10.6% on an annual basis to $75.5 million from $84.5 million, and total operating expenses fell 5.9% from the prior-year period to $78.2 million from $83.1 million.

Reported net income totaled a loss of $9.1 million, or a loss of 26 cents per share, compared to a loss of $5.6 million, or a loss of 19 cents per share, in the year-earlier period.