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.
well, healthy you navigate as pandemic. all remain your through you and safe we wish and and hope families this I continue to
I continued that instituted for the call, corporate As plus on policy our months. two at office That working our we XX. March past on mentioned remote last
a our has has team productive. highly While remained an done been this has challenging transition, and outstanding work
positive initiatives transformation see We our and trends remain to quickly continue our on adapting the are we key of business. to focused the
While an COVID-XX, impact sales our specifically on in at-need we our immediate saw business both from pre-need trends. and
have improvement our tactics to sales in overall We those a better support have deploying that of and in sales resulted results. customers successful been teams positive in and serve trends new reversal our early
responded dive the I'm these a times to sacrifices we our acknowledge proud put and how that must on more few first, the and trends. people. to will the rapidly unprecedented employees, sales experienced. into in the disruption they our minutes and very But of and pandemic detail new emerging the I in of address were place protocols and tools business dedication I all have embraced
we the and employees, thank communities want have I acknowledge to are particularly frontlines. those essential above beyond serve. our the the and support families on and They gone and workers call to
XXX industry are during their have activity. our up at and now employees StoneMor, to and on top COVID during these frontline heroes and of of in time but true have confirmed teams homes cases the cemeteries times. only stepped our deserve the our challenging particular, Not our dedication COVID and In our all managed more they and than passion own appreciation this thanks funeral workers
They've caused been received COVID-XX. address work rolled been day And changing out dynamics the communities. driving technologies the families to committed in the many for and by new we the up we've well out have our day and to that remain force embraced behind in serve. new show They that they've initiatives
So the drive general Armed Indiana our news of great our lost visitation just offering created a cemetery his during newly option and with tragically leukemia featured Greenwood, on were for stages after at Forces member pandemic. one example, his developing a one from team the early an of in the managers that battle young
positive a was distancing maintaining in in part effort still desire that feedback allow the of while from the of knowhow family drive the community This we our have support and such as it mandates. community, families. family's after to option social the to complete took service success visitation was all and and an receiving The brought locations the for thru experience to take and
properties to across of and teams success. need also the successfully our with corporate our I that been efforts times the a provided recognize It's tools teams. to number field and divisional of marketing necessary have support sales our executed similar and
enabled have Without results initiatives did that us new the of weeks. and this a establish a to out during of new leadership in we that matter we adjust sales that guidance, in process height couldn't pandemic to and their rebound selling rapidly our rolled led the protocols
have delivering by pandemic already and orders the tackled our a quickly distributed PPE placed have and of for results. and which As field quickly that than the issue, more into XXX,XXX central items took office. was the We Over great assembled team been need identified to received hold been the teams teams concern. XXX,XXX They them. our as has
customers do safety our that to certainly the job remain are achieved The this employees been one team to ship our every to items continue more number efficiency has needs team and done. out remarkable. these that We their There get priority. day. items of But our
efforts the And answering want critical. team I I our their these our they clearly to actual for we also number very applaud provide our the And procurement been employees as COVID-XX effective, adhering with call. for has people as safety PPE again infections necessary to thank large employee have compliance the properties. had have protocols new been and complete across our few to of
Directors I through and the to during we has to my taking quarterly reduction this of their take recognize Board And reduction team. next executives pandemic. have as fees leadership, salary consistent taken. With corporate Similarly, want quarter we the manage reductions executive all leadership second our field voluntary of with salary volunteered
group team. The leadership impact And committed, proud at-need material certainly of we committed impact been has very to I'm We spoke, when be on a last part have a we and COVID-XX sales. pre-need and Board our were and terrific fully seeing this challenging.
stated commissionable With total XXth. on year-over-year were I we call, in last quarter. As sales sales of strong results the our having XX% as March first of growth
were final appointments customer and declined. weeks was March the two However, significant COVID-XX's in impact of on canceled sales sales as
growth sales and constraints a Clearly despite final our performance carried sales at quarter facilitated were store on on finish which sales of that, that able new strain COVID-XX with that put same the our sales we programs in April, X% still recovery. prior versus results. to first QXs But forward initiatives point, then stabilized year. and into And
again out on seen increases pace we've year's are and in basis. in of week location volume, comparable once a ahead prior and steady point, trending that sales Since week
presentation. we've first for of first distinct three and As three half summarized into at Slide performance in as the sales periods the we second quarter our quarter, the look really seen the investor in
very January which we point, versus the The sales We XX% XXth. that to a first up Xst quarter. XXXX. same to period were trending strong in was toward period, define were our March At as the pre-COVID
steep new to COVID the As the a entered we and to as whole country in results, StoneMor had our decline a saw picture, adjust and normal. immediate sales
downward off by April. into COVID, impacted being with to That and go, about from fall trend both Ultimately, year-over-year, which X% continued we the XX%, up up pre-need after just weeks two at-need activity. finished driven
four XXth March week April the same period down were to XX% period the we versus XXth, from in four week During XXXX.
we both we at locations. pre-need impacted did by than activity. entire sales for and more had offset in our those across even need in Obviously, unfortunately, was sales. pre-need at-need and declines steeper But spikes see that where was portfolio pockets It
After at-need We've double and April weeks, across same two of however the we last XXth, saw once all weeks two flat where for stabilization was of this seeing we're of up our and the weeks activity. in pre-need and rebound versus year-over-year two XXXX. seen both production sales divisions, sales again digit
year-over-year for this as sign encouraging business, show trend an certainly It's our positive continues to growth.
and into these our at dive in the initiative deeper We're impact out. seeing been first the quarter, Jeff look we've will the performance that we rolling numbers. As of
income, and Most versus both noteworthy QX improvement the operating XXXX. is material sequentially in
other While excluding $X.X year, operating of relatively the versus impact by million remained quarter and flat income losses. $X.X XXXX improved and the sequentially revenues million prior for of gains first
our prior You will to that compared see year. in the XX% quarter overhead corporate declined from financials the $X.X same or million as
year. of reductions that a quarter charges that of the actively during onetime working the through last reduction some truly the certain for to $X testament related to is XXXX, and million changes While is we've incurred been around remainder the first
continue executed of additional to In we April, in an force reduction as corporate move we address And we those XX%. forward. costs
to While it staff overhead times, size our continue right to was our and necessary during easy as corporate to transformation these it's challenging never we strategy. take expenses particularly implement these steps,
such As corporate short that of of a initiatives the to talked the a our we've the last so quick in to remotely. despite I continue that on call, teams period fact work I'm update on made say progress about, all we want some with just time, the of impressed that
Our the outsourcing for agreement with maintenance on in has force now Moon full XX approximately of days. been
challenges, the and of partnership our has going between to there of leadership remarkable. be been transition nothing any but field team the with size, As short team were this Moon
optimistic about being modernizing enhanced resolved With network rolling Issues few this materials, future and out over spend and the [indiscernible] business relationship. months. remain efficiencies management infrastructure quickly the further software I are our of next and we are spending new very
quarter operational into to by go that details our more the quarter. full in the turn results financial third first the quarter the implemented being We from to savings are to target savings I'd initiatives major over the have On currently year. this on and to like on and of Jeff note, fully call fourth realized
