StoneMor Partners L.P. (NYSE:STON) Q1 2020 Earnings Conference Call - Final Transcript

May 14, 2020 • 04:30 pm ET


StoneMor Partners L.P. (NYSE:STON) Q1 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to the StoneMor First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It's Thursday, May 14th, 2020.

I would now like to turn the conference over to Keith Trost, VP, Financial Planning and Analysis. Please go ahead.

Keith Trost

Thank you, Eric. Good afternoon, everyone. And thank you, again, for joining us on the StoneMor conference call to discuss our first quarter financial results. You should all have a copy of the press release we issued earlier today. If anyone does not have a copy, you can find a full release on our website at Additionally, a copy of the presentation can also be found on our website.

With us, on the call, this afternoon are: Joe Redling, President and Chief Executive Officer; and Jeffrey DiGiovanni, Senior Vice President and Chief Financial Officer. Before we begin, as usual, I would like to remind everyone that this conference call will include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address operating performance events or developments that we expect or anticipate to occur in the future are forward-looking statements.

These forward-looking statements are based on management's good faith, beliefs and assumptions. Our management believes that these forward-looking statements are reasonable. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of today's date. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in the reports, which we file with the SEC.

Additionally, during the call, we will reference certain non-GAAP financial measures, such as adjusted operating income, EBITDA, adjusted EBITDA and adjusted cash from operations. A reconciliation of these measures to the most directly comparable measures calculated in accordance with GAAP is provided in the press release and presentation as well as the 8-K that has been filed with the SEC.

With that, I'll now turn the call over to Joe Redling, who will take it from here.

Joseph M. Redling

Thank you, Keith. Thank you for joining us this afternoon. It's been a little over a month-and-a-half since we last spoke with our year-end earnings release. Those were the early stages of the COVID-19 pandemic, and since then, our businesses and our lives have been disrupted like never before. I wish you all well, and hope you and your families remain safe and healthy as we continue to navigate through this pandemic.

As I mentioned on our last call, we instituted remote working at our corporate office on March 13th and have continued that policy for the past two plus months. While this has been