January 2021

Page A21 JANUARY 2021 FUNERAL HOME & CEMETERY NEWS Se c t i on A StoneMor Inc. reports Third Quarter Financial Results T R E V O S E , P A — StoneMor Inc . (NYSE: STON) reported operat- ing and financial results for the third quarter and nine- month period ended Sep- tember 30, 2020. Joe Redling , StoneMor’s President and Chief Execu- tive Officer said, “The third quarter continued the trend of growth established in the first half of 2020, par- ticularly as it relates to our cemetery sales production and expense management initiatives. We delivered record levels of cemetery sales production during the third quarter of 2020, in- cluding a 27% year-over- year increase. The upward trajectory was largely driv- en by 32% growth in same- store pre-need sales produc- tion and included increases in both contract volume and average pricing. This sales production growth was generated while reduc- ing our expenses across the board and driving increased Field EBITDA levels.” StoneMor Exits West Coast StoneMor announced it has signed a definitive agree- ment to sell the assets of its Oregon andWashington lo- cations to Clearstone Me- morial Partners, LLC for a total cash purchase price of $6.2 million. The locations included in the transaction are FarnstromMortuary in Independence, Oregon, Fir Lawn Memorial Park and Mortuary, Hillsboro, OR, Forest Lawn Cemetery , Gresham, OR, Hillcrest Memorial Park, Crema- tory and Mortuary , Med- ford, OR, Keizer Funer- al Chapel and Farnstrom Cremation Center , Keiz- er, OR, Memory Gardens Memorial Park and Mem- ory Gardens Mortuary , Medford, OR, Peake Fu- neral Chapel , Milwaukie, OR, Restlawn Memory Gardens , Mausoleum and Restlawn Funeral Home , Salem, OR, Roseburg Me- morial Cemetery , Rose- burg, OR, Valley View Cemetery in Sutherlin, OR, Wilson’s Chapel of Roses and Roseburg Cem- etery , Roseburg, OR, Care Cremation Service , Clack- amas, OR, Marysville Cemetery , Marysville, WA and Oakwood Hill Cem- etery and Funeral Chapel , Tacoma, WA. StoneMor also announced it has completed the previ- ously announced sale of the assets of its remaining Cal- ifornia locations to entities owned by John Yeatman and Gary Saxton for a total purchase price of $7.1 mil- lion, subject to certain ad- ditional adjustments. StoneMor Inc is an own- er and operator of 313 cemeteries and 82 funer- al homes in 27 states and Puerto Rico. For addi- tional information, visit www.stonemor.com. Your Real Source. Anywhere. Anyt ime. Go To L king For a Funeral Home, Trade Service Online Directories Updated Daily 800-321-7479 • kim@nomispublications.com or Supplier on your Computer, Tablet or Cell Phone?