Security National Financial Corporation Reports Financial Results For the Year Ended December 31, 2024
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) ha riportato risultati finanziari solidi per il 2024, con utili dopo le tasse aumentati dell'83% a 26,5 milioni di dollari grazie a una crescita dei ricavi del 5% a 334,5 milioni di dollari.
Il segmento Assicurazioni Vita ha raggiunto il suo miglior anno operativo con un miglioramento del 25% rispetto al 2023. Anche il segmento Cimitero e Onoranze Funebri ha registrato risultati record, con un incremento del 5% rispetto all'anno precedente. Il segmento Mutui ha mostrato un miglioramento significativo, riducendo le perdite del 64% (11 milioni di dollari) mentre aumentava i ricavi dell'8%.
Gli utili netti per azione ordinaria sono aumentati a 1,11 dollari nel 2024, rispetto a 0,61 dollari nel 2023. Il valore contabile per azione ordinaria è salito a 14,45 dollari rispetto a 13,44 dollari anno su anno. L'azienda aveva 23.451.432 azioni equivalenti di Classe A in circolazione al 31 dicembre 2024.
Security National Financial (SNFCA) reportó resultados financieros sólidos para 2024, con ganancias después de impuestos que aumentaron un 83% a $26.5 millones gracias a un crecimiento de ingresos del 5% a $334.5 millones.
El segmento de Seguros de Vida logró su mejor año operativo con una mejora del 25% en comparación con 2023. El segmento de Cementerios y Funerarias también publicó resultados récord, mejorando un 5% respecto al año anterior. El segmento de Hipotecas mostró una mejora significativa, reduciendo las pérdidas en un 64% ($11 millones) mientras aumentaba los ingresos en un 8%.
Las ganancias netas por acción común aumentaron a $1.11 en 2024, frente a $0.61 en 2023. El valor contable por acción común aumentó a $14.45 desde $13.44 año tras año. La empresa tenía 23,451,432 acciones equivalentes de Clase A en circulación al 31 de diciembre de 2024.
Security National Financial (SNFCA)는 2024년 강력한 재무 결과를 보고했으며, 세후 수익이 83% 증가하여 2650만 달러에 달하고, 매출은 5% 증가하여 3억 3450만 달러에 이릅니다.
생명 보험 부문은 2023년 대비 25% 개선된 최고의 운영 연도를 기록했습니다. 묘지 및 장례식 부문도 지난해 대비 5% 향상된 기록적인 결과를 올렸습니다. 주택 담보 대출 부문은 손실을 64%($1100만) 줄이면서 수익을 8% 증가시키는 등 상당한 개선을 보였습니다.
2024년 일반 주식당 순이익은 $1.11로 증가했으며, 2023년의 $0.61에서 상승했습니다. 일반 주식당 장부 가치는 연간 기준으로 $13.44에서 $14.45로 증가했습니다. 회사는 2024년 12월 31일 기준으로 23,451,432개의 A 클래스 동등 주식을 발행했습니다.
Security National Financial (SNFCA) a annoncé des résultats financiers solides pour 2024, avec des bénéfices après impôts en hausse de 83% à 26,5 millions de dollars grâce à une croissance des revenus de 5% à 334,5 millions de dollars.
Le segment d'Assurance Vie a atteint sa meilleure année opérationnelle avec une amélioration de 25% par rapport à 2023. Le segment des Cimetières et Funérariums a également affiché des résultats record, s'améliorant de 5% par rapport à l'année précédente. Le segment des Hypothèques a montré une amélioration significative, réduisant les pertes de 64% (11 millions de dollars) tout en augmentant les revenus de 8%.
Les bénéfices nets par action ordinaire ont augmenté à 1,11 dollar en 2024, contre 0,61 dollar en 2023. La valeur comptable par action ordinaire a augmenté à 14,45 dollars contre 13,44 dollars d'une année sur l'autre. L'entreprise comptait 23 451 432 actions de classe A en circulation au 31 décembre 2024.
Security National Financial (SNFCA) berichtete über starke Finanzergebnisse für 2024, mit einem Anstieg des Nachsteuergewinns um 83% auf 26,5 Millionen Dollar bei einem Umsatzwachstum von 5% auf 334,5 Millionen Dollar.
Der Lebensversicherungsbereich erzielte sein bestes operatives Jahr mit einer Verbesserung von 25% im Vergleich zu 2023. Auch der Bereich Friedhöfe und Bestattungen verzeichnete Rekordergebnisse und verbesserte sich um 5% im Vergleich zum Vorjahr. Der Hypothekenbereich zeigte erhebliche Verbesserungen, indem er die Verluste um 64% (11 Millionen Dollar) reduzierte und die Einnahmen um 8% steigerte.
Der Nettogewinn je Stammaktie stieg 2024 auf 1,11 Dollar, im Vergleich zu 0,61 Dollar im Jahr 2023. Der Buchwert je Stammaktie erhöhte sich von 13,44 Dollar auf 14,45 Dollar im Jahresvergleich. Das Unternehmen hatte zum 31. Dezember 2024 insgesamt 23.451.432 ausstehende Aktien der Klasse A.
- After-tax earnings surged 83% to $26.5 million
- Revenue increased 5% to $334.5 million
- Life Insurance segment achieved record year with 25% growth
- Cemetery and Mortuary segment improved 5% to record levels
- Mortgage segment reduced losses by 64% ($11M) with 8% revenue growth
- Net earnings per share increased to $1.11 from $0.61
- Book value per share grew to $14.45 from $13.44
- Mortgage segment still operating at a loss despite improvements
- Mortgage industry remains profit-challenged according to MBA
Insights
Security National Financial 's fiscal 2024 results demonstrate remarkable financial strength, with after-tax earnings surging
The company's diversified business model proved highly effective, with all three segments showing notable progress. The Life Insurance segment achieved its best year ever with a
Most impressive is the Mortgage segment's performance amid industry headwinds. While the mortgage industry remains "profit challenged" according to the company (with Q4 being Production Income negative per the Mortgage Bankers Association), SNFCA reduced segment losses by
These operational successes translated directly to shareholder value, with earnings per share nearly doubling from
SALT LAKE CITY, March 31, 2025 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the year ended December 31, 2024.
For the twelve months ended December 31, 2024, SNFC’s after-tax earnings from operations increased
Scott Quist, Chairman of the Board, President, and Chief Executive Officer of SNFC, said, “2024 marked another year of solid progress for our Company. Our Life Insurance Segment had its best operational year ever, delivering a
SNFC has three business segments. The following table shows the revenues and earnings before taxes for the twelve months ended December 31, 2024, as compared to 2023, for each business segment:
Revenues | Earnings before Taxes | ||||||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||||||
Life Insurance | $ | 191,530,000 | $ | 185,176,000 | 3.4 | % | $ | 31,456,000 | $ | 25,272,000 | 24.5 | % | |||||||
Cemeteries/Mortuaries | $ | 33,022,000 | $ | 31,938,000 | 3.4 | % | $ | 8,861,000 | $ | 8,444,000 | 4.9 | % | |||||||
Mortgages | $ | 109,971,000 | $ | 101,383,000 | 8.5 | % | $ | (6,213,000 | ) | $ | (17,416,000 | ) | 64.3 | % | |||||
Total | $ | 334,523,000 | $ | 318,497,000 | 5.0 | % | $ | 34,104,000 | $ | 16,300,000 | 109.2 | % | |||||||
Net earnings per common share was
The Company has two classes of common stock outstanding, Class A and Class C. There were 23,451,432 Class A equivalent shares outstanding as of December 31, 2024.
This press release contains statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Security National Financial Corporation and its business. The predictions in the statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.
If there are any questions, please contact Mr. Garrett S. Sill or Mr. Scott Quist at:
Security National Financial Corporation
P.O. Box 57250
Salt Lake City, Utah 84157
Phone (801) 264-1060
Fax (801) 265-9882
