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StoneMor Partners Q1 loss narrows YOY

StoneMor Partners L.P. said its normalized net income for the first quarter came to a loss of 12 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss decreased 40.5% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.0 million, compared with a loss of $6.0 million in the prior-year period.

The normalized profit margin climbed to negative 5.6% from negative 8.5% in the year-earlier period.

Total revenue grew 5.8% on an annual basis to $74.6 million from $70.5 million, and total operating expenses increased on an annual basis to $75.3 million from $73.5 million.

Reported net income totaled a loss of $7.5 million, or a loss of 23 cents per share, compared to a loss of $9.1 million, or a loss of 31 cents per share, in the year-earlier period.