Friday, May 14, 2021

Success of 2020 Sets Stage for StoneMor Inc (STON) Stock Price to Skyrocket

StoneMor Inc. (STON) stock prices are up a staggering 31.33% as of market close on April 16th, 2021, coming to a closing price of USD$2.18.


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STON Acquires Assets

On March 24th, 2021, STON, as an operator of the multitude of funeral homes and cemeteries under its ownership, announced its definitive agreement in regard to the acquisition of four additional cemeteries. Located within its East Coast geographic footprint, the cost of acquisition of these assets was USD$5.395 million with an expected closing date of July 2021.

Strong Financial Reports


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Concurrently, STON also disclosed its financial results for Q4 2020 and year ended December 31st, 2020. Q4 2020 revenues were USD$58.3 million, with Q4 2021 having seen an impressive increase to bump reported revenues up to USD$74.9 million. Full year revenues were also up, from USD$257.2 million in 2019 to USD$279.5 million in 2020.

Operating Income Reports

While Q4 2019 reported an overall operating loss of USD$0.6 million, Q4 2020 saw a cemetery segment operating income of USD$10.9 million, up a promising USD$11.5 million. The operating income for the full-year cemetery segment was USD$35 million in 2020, a USD$27-million-dollar improvement over the USD$8 million reported for 2019.

Corporate Overhead Expense Reports

STON also saw its corporate overhead expenses go from UDS$13 million in Q4 2019 to USD$9 million in Q4 2020. Yearly corporate overhead expenses for 2019 amounted to USD$51.1 million, with 2020 reported USD$36 million.

Operating Income Reports

Operating income for Q4 2020 was USD$3.4 million, a massive improvement on the operating loss of USD$17.4 million in Q4 2019. 2020 also saw significant increases overall as compared to 2019, with a full-year operating income of USD$3.3 million in 2020 versus a full-year operating loss of USD$47.9 million in 2019.

Net Loss Dwindles Down

Q4 2020 reported a net loss of USD$5.7 million from continuing operations, while Q4 2019 had reported USD$52.4 million. The full-year net loss from continuing operations in 2019 was USD$154.7 million, with 2020 reporting a net loss from continuing operations of USD$37.3 million.

STON’s Liquidity

In light of such stellar financial reports, STON had USD$60.1 million in cash as of December 31st, 2020 against total debt of USD$321 million. Of their cash reserves, USD$20.8 million is restricted cash. Q4 2020 saw USD$4.9 million being generated in unlevered free cash flow, while the value of STON trust assets increased by USD$45.6 million.

STON’s Outlook for 2021

Looking forward, STON anticipates USD$40 million in unlevered free cash flow and an increase of USD$50 million in their trust assets for the fiscal year 2021. Cash generation and trust asset growth are at the core of STON’s financial focus as they strive towards continued and sustained stockholder value creation. With such strong numbers being reported amidst the pandemic, and the company’s commitment to its shareholders, current and prospective investors are hopeful for STON’s future.

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