StoneMor Partners, based in Trevose, Pennsylvania, issued their 2nd Quarter 2017 financials and report on December 12.  We bring them to you today.  You can see their press release on the results here.

Here are some of their highlights:

• Revenues for the quarter were $86 million which represents a $7.0 million increase from the same period one year ago.  For the first six months of 2017 revenues were $168.9 million which is an $11.7 million increase over the same period.

• Management explains that the growth in revenue was basically due to a growth in cemetery sales and merchandise as well as a reduction in the number of contract cancellations and the addition of revenue from acquired companies.

• However  losses widened as the 2nd quarter net loss was $11.6 million as compared to an $8.1 million loss in 2016 and for the first six months of 2017 the net loss was $20.1 million as compared to $14.5 million loss for the same period of 2016.

• StoneMor credits the larger year over year loss, at least in some capacity,  to the extensive corporate overhead costs associated with its accounting review and the delayed filing of its Annual Report on Form 10-K for 2016.

• The report also stated, “. . .to preserve capital resources and liquidity, the Board of Directors of the General partner has concluded that it is not in the best interest of unitholders to pay a second or third quarter 2017 distribution”.

According to the company’s website at www.stonemor.com the company currently operates 316 cemeteries and 94 funeral homes in 27 states and Puerto Rico.

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