Welcome to our dedicated page for Stonemor news (Ticker: STON), a resource for investors and traders seeking the latest updates and insights on Stonemor stock.
StoneMor Inc. (STON) maintains this dedicated news hub for stakeholders tracking developments in cemetery operations and funeral services. Our curated collection provides timely access to official announcements, financial disclosures, and strategic updates from one of North America's leading deathcare providers.
Investors and industry observers will find comprehensive coverage of earnings reports, operational expansions, and service innovations related to StoneMor's pre-need planning solutions and at-need service delivery. The archive includes press releases detailing cemetery management initiatives, memorial service enhancements, and regulatory compliance updates.
This resource is structured to help users efficiently monitor StoneMor's progress in maintaining burial properties, evolving funeral service offerings, and addressing industry challenges. All content undergoes verification to ensure alignment with financial reporting standards and operational transparency requirements.
Bookmark this page for direct access to StoneMor's latest corporate communications, including leadership updates, partnership announcements, and service territory expansions. Check regularly for new developments in cemetery operations technology and evolving consumer service standards within the deathcare sector.
StoneMor Inc. (NYSE: STON) announced an unsolicited proposal from Axar Capital Management to acquire all outstanding shares not owned by Axar for $0.67 per share, representing a 17% premium over the average share price. Axar, which owns 52% of the company, intends to fund the acquisition through equity. The Board has formed a special committee to evaluate the proposal. Additionally, StoneMor entered a purchase agreement with Axar for 23.3 million shares at $0.73 each, amounting to $17 million, closing in June 2020.
StoneMor Inc. (NYSE: STON) reported first-quarter 2020 revenues of $71.2 million, slightly down from $71.5 million in the previous year. The cemetery segment's operating income rose to $5.2 million, while funeral home segment income reached $2.0 million. Corporate overhead decreased significantly to $8.5 million from $13.4 million. The company posted a net income of $9.0 million, boosted by a $24.1 million gain on sales. Excluding this gain, the operating loss improved to $1.5 million from $9.4 million.
StoneMor Inc. (NYSE: STON) announced it will release its Q1 2020 financial results on May 14, 2020, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day. Interested parties can join the call by dialing (800) 734-8592, with early log-in recommended due to pandemic-related precautions. The results and further details will also be accessible via a live webcast on StoneMor's website under the Events & Presentations section.
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