Tag: stonemor

Carriage Services reports 4th Quarter and Year End 2019
Finance

Carriage Services reports 4th Quarter and Year End 2019

  Last week funeral service and cemetery consolidator and operator Carriage Services, based in Houston, Texas, reported 4th Quarter and Year End results for 2019.  They also provided commentary on how they believe that the company will move in the next three years.  I will provide some factual information in this report but also my opinions.  Please note I am not a stockholder in Carriage Services at this time. You can access their February 19 press release related to earnings […]

StoneMor announces California combo sale
Finance

StoneMor announces California combo sale

We said almost two years ago that the best way for funeral home and cemetery operator StoneMor Partners L.P. to right their ship was to divest themselves of some properties and use the cash proceeds to pay down debt so that they can get to a position where they are operating in a financial positive manner. Yesterday they made an official announcement of what many of us expected to be coming.  StoneMor Partners L.P. announced the agreement to sell the […]

Corporate News
Finance

Corporate News

This afternoon we will bring you a couple of items that recently appeared in print publications about public companies in the death care business. From the Philadelphia Business Journal we bring you this article on StoneMor Partners.  It is entitled, “StoneMor slims down executive ranks, plans divestitures for bid for profitability”.  We believe it is a good article that highlights what has dogged StoneMor Partners for the past decade and what new management is doing to try to become profitable. From […]

Axar Capital purchases additional StoneMor stock
Finance

Axar Capital purchases additional StoneMor stock

  According to this article and also verified on E-Trade, Axar Capital Management L.P. purchased 3,925,660 shares of StoneMor Partners L.P. stock on Wednesday, October 30, at an average share price of $1.00 per share.  That share price indicated the 52-week low for the stock which had traded as high as $5.01 just over a year ago on November 2, 2018. The purchase by Axar Capital Management L.P. increased their holding in StoneMor Partners L.P. to 11,674,095 shares of the […]

The future of StoneMor
Finance

The future of StoneMor

As we mentioned in yesterday’s Funeral Director Daily, the earnings season is upon us for public companies to report their operating results for the 3 months ended September 30, 2019.  On November 7 we know that  cemetery and funeral home owner and operator StoneMor Partners LP will give us those numbers and do know that a lot of people in the industry are looking for those numbers to see if the company is moving in the right direction in their […]

StoneMor Partners announces recapitalization transactions and strategies
Finance

StoneMor Partners announces recapitalization transactions and strategies

If you follow the death care industry you would know that it is no secret that the long-term viability of StoneMor Partners has been in question.  Since 2016 their publicly traded stock has dropped from over $25 per share to a low last week of $1.44 per share.  In 2017 and 2018 alone the company lost over $75 million in operating income and revenues have dropped from about $338 million in 2017 to $316 million in 2018.  In addition, the […]

Financial authors Duguid and DiNapoli on StoneMor Partners
Finance

Financial authors Duguid and DiNapoli on StoneMor Partners

A couple of weeks ago (byline May 17)  financial writers Kate Duguid and Jessica DiNapoli wrote a piece that was picked up by Reuters that you can read here.  The article concerns the financial wherewithal of United States funeral home and cemetery operator StoneMor Partners LP. From our point of view, it is a very good article and gives a clear and concise picture of what CEO Joe Redling is up against as his team tries to turn StoneMor into […]

Past Lives Matter
Cemetery

Past Lives Matter

“Past Lives Matter” is but one of dozens of signs that were placed in the Rest Haven Cemetery in Avon, Ohio, this past weekend.  You can read about and see a news video here of the issues with that cemetery that have family members of people buried there upset. The cause that is upsetting relatives is the fact that the cemetery continues to flood putting headstones underwater and causing other problems at the StoneMor Partners owned property.  Disgruntled family members […]

StoneMor announces 1Q Results. . .Sales decline, losses widen
Finance

StoneMor announces 1Q Results. . .Sales decline, losses widen

StoneMor Partners, the Pennsylvania operator of funeral homes and cemeteries announced First Quarter 2019 results last week.  The company, which is in what CEO Joe Redling says is an “operational reorganization” continues to see revenues lower and losses larger than the comparable quarter one year ago. For 1Q 2019 revenues amounted to $71.5 million as compared to $77.9 million in 2018.  The net loss of the company for 1Q 2019 was $22.5 million as compared to $17.9 million in 1Q […]

Facebook group challenges StoneMor on cemetery operations
Cemetery Regulations

Facebook group challenges StoneMor on cemetery operations

A television news report and story from WSET out of Lynchburg, West Virginia, can be seen here and tells of a Facebook group that has garnered more than 600 followers that says that there is a problem with the way StoneMor Partners operates their cemeteries. Melissa Cash, whose father is buried at the Fort Hill Burial Park in Virginia, says “the cemetery roads have potholes, the mausoleums are run down and the grass is not kept up”.  She learned of […]