Welcome to our dedicated page for Security Natl news (Ticker: SNFCA), a resource for investors and traders seeking the latest updates and insights on Security Natl stock.
Security National Financial Corporation (SNFCA) operates through three integrated segments: life insurance, cemetery/mortuary services, and mortgage loans. This page provides investors and stakeholders with timely updates across all business units, demonstrating how SNFCA's horizontal integration model drives stability in financial services sector.
Access official press releases, earnings announcements, and strategic partnership updates in one centralized location. Our curated collection includes regulatory filings, leadership changes, and operational developments affecting SNFCA's insurance products, funeral services, and real estate financing operations.
Key updates cover:
• Life insurance product enhancements
• Mortuary service expansions
• Mortgage loan portfolio performance
• Cross-segment strategic initiatives
Bookmark this page for streamlined access to SNFCA's latest corporate communications. For historical context, combine these updates with our detailed company profile analyzing SNFCA's unique integrated business model.
Security National Financial (SNFCA) reported strong financial results for 2024, with after-tax earnings increasing 83% to $26.5 million on a 5% revenue growth to $334.5 million.
The Life Insurance segment achieved its best operational year with a 25% improvement over 2023. The Cemetery and Mortuary segment also posted record results, improving 5% over the previous year. The Mortgage segment showed significant improvement, reducing losses by 64% ($11 million) while increasing revenue by 8%.
Net earnings per common share rose to $1.11 in 2024, up from $0.61 in 2023. Book value per common share increased to $14.45 from $13.44 year-over-year. The company had 23,451,432 Class A equivalent shares outstanding as of December 31, 2024.
Security National Financial (SNFCA) has announced the passing of board member Mia Love, a former U.S. Congresswoman, following her battle with cancer. Love served as a distinguished member of the company's Board of Directors, contributing her expertise in public policy, governance, and strategic development.
CEO Scott Quist expressed the company's deep sadness at the loss, highlighting Love's dedication, integrity, and wisdom during her tenure. Her role was instrumental in advancing the company's mission and strengthening its commitment to excellence.
Security National Financial (SNFCA) reported strong financial results for Q3 2024. After-tax earnings surged 193% to $11.8M in Q3 2024 from $4.0M in Q3 2023. For the nine months ended September 30, 2024, earnings jumped 128% to $26.6M. The company saw improvements across all segments: Mortgage revenues increased 20.5%, returning to profitability; Mortuary and Cemetery revenues grew 15%; and the Life Insurance segment's profitability improved over 40% to $28M. Net earnings per share reached $1.11 for the nine-month period, compared to $0.49 in 2023. Book value per share increased to $14.89 from $14.11 at year-end 2023.
Security National Financial (NASDAQ: SNFCA) reported strong financial results for Q2 2024. After-tax earnings increased by 15% to $7,272,000 for the quarter and 94% to $14,746,000 for the first half of 2024. The company's diverse business segments showed mixed performance:
- Life Insurance: Revenue down 1.7%, earnings before taxes down 21.8% for Q2
- Cemeteries/Mortuaries: Revenue down 6.1%, earnings before taxes down 26.1% for Q2
- Mortgages: Revenue up 12.3%, returned to profitability with $134,000 earnings before taxes for Q2
Overall, total revenue increased by 2.3% to $85,791,000 for Q2. Net earnings per share reached $0.62 for the first half of 2024, compared to $0.32 in 2023. Book value per share stood at $13.91 as of June 30, 2024.
Security National Financial (NASDAQ: SNFCA) announced a 5% stock dividend on June 21, 2024, to be distributed to shareholders of record on July 5, 2024. The dividend will be issued on July 12, 2024. CEO Scott Quist highlighted that this marks the 36th consecutive year of declaring a stock dividend, which offers shareholders options for long-term appreciation or cash flow through potential share sales.
Security National Financial (SNFCA) announced a new Loyalty Sales Division within Security National Life Insurance (SNL). This division, in partnership with Latinos Unidos, focuses on versatile final expense plans. A highlight is the Loyalty Family Support Plan, offering a dedicated funeral concierge service. This expansion aims to enhance SNL's presence in the final expense market.
Security National Financial (SNFCA) reported significant financial improvements for Q1 2024. Earnings before tax surged by 507%, reaching $9.6M, up from $1.6M in Q1 2023. Revenue grew by 2% to $81.2M. The company attributed the earnings increase to an 8% reduction in total expenses, particularly in selling, general, and administrative costs. The Insurance and Memorial Segments saw revenue growth of 7%, while investment income rose by 12%. The Mortgage Segment reduced its year-over-year loss by 50%. Net earnings per share increased to $0.33 from $0.05, and book value per share rose to $14.40. CEO Scott Quist praised the team's efforts, emphasizing the need for continued focus on top-line revenue growth.
