STON - STON STOCK NEWS

StoneMor Inc. (NYSE: STON) reported strong Q3 2021 financial results, achieving revenues of $82.3 million, up from $72.7 million YoY. Year-to-date revenues increased to $243.6 million from $204.4 million. The cemetery segment operating income rose to $14.0 million, a significant increase from $11.5 million the previous year, while the funeral home segment saw a slight decline. Adjusted EBITDA reached $38.5 million, up from $24.3 million. As of September 30, the company held $115.9 million in cash, reflecting a solid liquidity position.

StoneMor Inc. (NYSE: STON) announced it will release its 2021 third quarter financial results on November 11, 2021, after market close. Management will hold a conference call at 4:30 PM ET to discuss these results. The call can be accessed at (877) 256-3243, with no reservation needed, but early access is advised. A live webcast will also be available through the Investors page on the StoneMor website. StoneMor operates 300 cemeteries and 69 funeral homes across the U.S. and Puerto Rico, offering various burial and memorial services.

StoneMor Inc. (NYSE: STON), a prominent owner and operator of cemeteries and funeral homes in the U.S., has announced a strategic alliance with Sympathy Brands to enhance its end-of-life service offerings. This partnership aims to streamline planning and decision-making processes while providing comprehensive support for families. With Sympathy Brands’ proprietary platform, StoneMor can deliver personalized care through services like Viewneral® and ongoing aftercare. The collaboration reflects a commitment to modernizing the approach to end-of-life matters and prioritizing family support.

StoneMor Inc. (NYSE: STON) announced that Axar Capital Management, which owns about 75% of its common stock, expressed interest in exploring strategic alternatives that could benefit the Company and its stakeholders. Axar has engaged legal counsel and may hire financial advisors for this purpose. The StoneMor Board has authorized its Conflicts Committee to engage in discussions with Axar regarding potential transactions. However, the Board cautions that no discussions have started and there is no guarantee of a transaction resulting from this interest.

StoneMor Inc. (NYSE: STON) has announced a partnership with Empathy to integrate a co-branded app aimed at assisting families in managing the complexities that arise after the loss of a loved one. The app will provide practical guidance, automated tools, and grief support to help navigate the logistical challenges faced in the wake of a funeral. StoneMor's CEO, Joe Redling, emphasized the company's commitment to enhancing its service offerings, while Empathy's co-founder highlighted the potential of technology to ease the burdens of end-of-life logistics.

StoneMor Inc. (NYSE: STON) reported a significant financial performance for Q2 2021, achieving revenues of $83.0 million, up 25% from $66.6 million in Q2 2020. The cemetery segment's operating income rose to $14.7 million from $7.4 million, and adjusted EBITDA reached $32.1 million, doubling year-over-year. However, the net loss from continuing operations increased to $36.2 million, compared to $8.8 million last year. The company reported $107.0 million in cash and $391.4 million in total debt as of June 30, 2021, highlighting liquidity concerns amid ongoing transformation efforts.

StoneMor Inc. (NYSE: STON) announced it will release its second quarter financial results for 2021 on August 10, 2021, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET the same day. The call can be accessed by dialing (877) 221-6399, with a live webcast available on StoneMor's website. The company operates 301 cemeteries and 70 funeral homes across 24 states and Puerto Rico, providing various cemetery products and services.

StoneMor Inc. (NYSE: STON) announced its inclusion in the Russell 3000® and Russell MicroCap® Indexes, effective June 28, 2021. This recognition comes after the annual reconstitution of the Russell indexes, which highlights the top 4,000 US stocks by market capitalization. The Russell 3000® membership lasts for one year and provides automatic inclusion in the large-cap and small-cap indexes. Joe Redling, President and CEO, stated that this inclusion enhances StoneMor's visibility in the investment community.

Russell indexes manage approximately $10.6 trillion in assets.

StoneMor Inc. (NYSE: STON) has updated the record date for stockholders eligible to vote at the 2021 Annual Meeting. The new record date is now June 21, 2021, shifted from June 4, 2021. The Annual Meeting will take place remotely on July 27, 2021, at 4:00 p.m. EDT. Details on participation and voting will be provided in the proxy statement.

StoneMor operates 318 cemeteries and 88 funeral homes across the U.S. and Puerto Rico, offering various cemetery products and services on both a pre-need and at-need basis.