Security National Financial's Q3 after-tax earnings fall
Security National Financial's Q3 after-tax earnings fell 34% year-over-year to $7.8 million, despite a 1.2% revenue increase driven by the Cemetery/Mortuary segment. The Mortgage segment posted a profit for the third time in three years. The company plans to implement new accounting standards in the Life Insurance segment in Q4 and focus on improving sales and management talent. Personnel costs remained flat, offsetting hiring costs with operational efficiencies.
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Overview
- SNFC Q3 after-tax earnings decrease 34% yr/yr to $7.8 mln
- Company revenue increases 1.2% yr/yr, driven by improved Cemetery/Mortuary segment
- Mortgage segment posts profit, marking third profitable quarter in 3 years
Outlook
- Company to implement new accounting standards in Life Insurance segment in Q4
- SNFC sees strength in move-up real estate markets, weakness in first-time buyer markets
- Company focusing on improving sales and management talent in Life Insurance segment
Result Drivers
- PERSONNEL COSTS - Co reports flat personnel costs for the qtr, offsetting talent hiring costs with operational efficiencies
- MORTGAGE SEGMENT PROFIT - Mortgage segment posts profit, marking third profitable qtr in 3 yrs despite market challenges
- CEMETERY SALES - Improved results in Cemetery/Mortuary segment due to stabilized preneed cemetery land sales
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
9M EPS $0.32
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
