Raymond James analyst John Ransom said StoneMor Partners announced a delay in the filing of its 2016 10-K and Q4 earnings release as the partnership discovered previously issued consolidated financial statements it had underreported cemetery revenues, net of associated direct costs, and over-reported net deferred revenues. Management believes the historical revision will have an immaterial impact on historical distributable cash flows and will actually have a positive effect on future cash flows. Ransom said his Outperform thesis is based on sustainability of the dividend based on recurring cash flows, not GAAP financials, and believes cash flows appear better, not worse, with the new accounting.