Tag: stonemor

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 […]

StoneMor Partners reports year end 2018
Finance

StoneMor Partners reports year end 2018

In a news release from April 2 that you can read here, StoneMor Partners reported their financial results for the 4th Quarter of 2018 as well as the full year 2018.  As you may know, the company has been filing delayed SEC reports but this report puts them pretty much on schedule. Here are some results that StoneMor reported: Revenue for the quarter was very close to last year’s as in 2018 revenue was reported as $83.4 million as compared […]

Contrarian investor John Snyder opines on StoneMor Partners
Finance

Contrarian investor John Snyder opines on StoneMor Partners

Value investor and self-described contrarian investor John Snyder wrote an article for Seeking Alpha that you can read here entitled, “Why I’m buying StoneMor”.  We will leave the facts at that and I will give my opinion on the piece below. Funeral Director Daily take:  This is an article that will cause all experienced funeral directors to take a look at what numbers and ratios matter in their business.  Snyder comes to his conclusion by comparing public companies StoneMor Partners […]

StoneMor Partners files 2018 3Q Financials
Finance

StoneMor Partners files 2018 3Q Financials

Last week, just a few days after filing their 2Q 2018 financial report StoneMor Partners issued a press release that you can read here pertaining to their 3rd Quarter 2018 performance. The company continued to report a net loss as they reported a loss of $17.2 million for the quarter and a year to date (9-month) loss of $52.2 million.  These numbers represented a widening loss over 2017 year over year results and according to the press release “The increased […]

StoneMor Partners, Assurant file Earnings Reports
Finance

StoneMor Partners, Assurant file Earnings Reports

Both StoneMor Partners and Assurant filed earnings reports in the last couple of days.  Both companies are members of the Death Care Index  (DCI) of publicly traded companies. StoneMor, which has had permission to file some reports on a delayed term, filed their report for the three months ending June 30, 2018.  For that three month time period they report that they had revenues of $81.6 million and a 2nd quarter net loss of $17.0 million.  That compares on a […]

StoneMor receives financing, completes asset review
Finance

StoneMor receives financing, completes asset review

Yesterday StoneMor Partners issued a press release which you can read here.  In it they “announced a number of key financial and operational updates representing further steps forward in its ongoing turnaround effort.  These steps include a waiver and amedment of certain loan covenants, growth financing from its largest investor and the completion of an extensive review of its asset base.” Financing – in the release StoneMor announced that its largest investor, Axar Capital, has agreed to a credit facilty […]

Markets flat for ’18, DCI drops
Finance

Markets flat for ’18, DCI drops

  After Friday’s market close I thought it might be a good time to check up with what has happened in the Death Care industry since the beginning of the year.  As you know the Funeral Director Daily Death Care Index (DCI) is made up of the value of one share of stock for eight different death care industry companies. While we have found that major market indices are rather flat for the year, we have noticed that the DCI […]

A new image at StoneMor
Finance

A new image at StoneMor

We did not see a press release on such, but we recently noticed that StoneMor Partners has began using a new logo.  From our point of view it is appropriate as the company has had some rough times over the last couple of years with the stock price falling from the mid $20’s to Friday’s close of $4.95 per share.  During the time the stock fell the company also suspended their dividend to stockholders. Back in June StoneMor Partners took […]

StoneMor accused of poorly maintaining Philadelphia Cemeteries
Cemetery

StoneMor accused of poorly maintaining Philadelphia Cemeteries

In an article that you can read here the Archdiocese of Philadelphia has had to respond to accusations that its St. Peter and St. Paul Cemetery is not properly maintained.  The Archdiocese has a 60-year contract with StoneMor Partners to operate the cemeteries and has had to point out that “As the operator of the cemeteries, it is StoneMor’s responsibility to address such matters.” In the article StoneMor states, “In this instance, we have fallen short of our standards.” According […]

StoneMor Partners Continues Moving Forward
Finance

StoneMor Partners Continues Moving Forward

Last week cemetery and funeral home consolidator StoneMor Partners issued press releases regarding their company.  In essence the releases shared the following information: Release of Preliminary Unaudited 2017 Full Year Financials The appointment of a new CEO for the company, Mr. Joe Redling The establishment of a committee to look into the possibility of changing the company from a Master Limited Partnership to a “C” Corporation You can read the press release pertaining to the 2017 financials here.  Here are […]