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Security National Financial Corporation reports recurring financial results and segment updates for its life insurance, cemetery and mortuary, and mortgage businesses. Its life insurance operations sell and service selected life insurance, annuity, and accident and health products; its cemetery and mortuary operations include pre-need funeral, cemetery, mortuary, and cremation services; and its mortgage business originates, underwrites, or purchases residential and commercial real estate loans.
Company news commonly covers quarterly and annual earnings releases, earnings-call announcements, segment performance commentary, common-share information, and updates from the Funeral Homes & Cemeteries division, including memorial park and mausoleum projects.
Security National Financial Corporation (SNFCA) reported a 63.2% decrease in after-tax earnings for Q3 2021, dropping to $10,791,000 from $29,305,000 in 2020, while revenues fell by 18.3% to $119,509,000. For the first nine months of 2021, earnings also decreased 33.4% to $34,177,000. Despite these declines, ROA stood at 2.11% and return on equity at 11.5%. The company's Memorial segment showed resilience with a 22% revenue increase, while insurance income rose 105% year-over-year amidst steady premium collections.
Security National Financial Corporation (NASDAQ: SNFCA) is nearing the completion of a new 6-story Class A office building at 433 Ascension Way, Murray, Utah, which will serve as its corporate headquarters. This facility will facilitate the relocation of various Utah-based operations, improving overall efficiency. The building is set to be fully occupied, with SNFCA occupying approximately 51%. The company reported record-high revenues and a book value of $14.25 per common share, alongside a 5% stock dividend distributed on July 16, 2021, marking 33 consecutive years of dividends.
Security National Financial Corporation (SNFCA) reported a 45.2% decrease in after-tax earnings from operations for Q2 2021, totaling $11,258,000, compared to $20,557,000 in Q2 2020. Despite this, the company's six-month earnings grew 6.4% to $23,386,000. The mortgage segment saw revenue decline by 8.3% due to reduced refinancing activity, while the memorial segment's operational income surged 200% year-over-year. The company’s book value per share increased to $14.25, up from $13.87. Net earnings per share was $1.12, a slight increase from $1.10 in the previous year.
Security National Financial Corporation (SNFCA) reported a significant increase in financial results for Q1 2021. After-tax earnings surged by 751%, rising from $1,424,000 in 2020 to $12,129,000 in 2021. Revenues also grew by 54% to $122,659,000. The Life Insurance segment faced a 37% rise in death claims, influenced by the pandemic, contrasting with increased profitability in the Memorial segment due to better preneed sales. The net earnings per share improved to $0.61 from $0.08 year-over-year, and book value per share rose to $14.18.
Security National Financial Corporation (SNFCA) reported significant financial growth for the year ending December 31, 2020. After-tax earnings surged 410% to $55.6 million, compared to $10.9 million in 2019, with revenues increasing 70% to $481.5 million. The company achieved a return on equity of 21%. Notably, the mortgage segment experienced a 120% revenue rise, while insurance profitability improved by 81%. EPS rose to $2.88 from $0.58 the previous year, and book value increased to $13.87 per share.
Security National Financial Corporation (NASDAQ-SNFCA) has announced a new lease of approximately 100,800 square feet in building two of its Center 53 campus in Murray, Utah. R1 RCM Inc., already a tenant in building one, will occupy space in building two, increasing its preleased occupancy to 50%. This expansion is viewed positively amidst concerns about the office market due to COVID-19, indicating confidence in the submarket. CEO Scott Quist expressed optimism for the future of their operations and the Center 53 campus.
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Security National Financial Corporation (SNFCA) reported significant financial growth for Q3 2020. After-tax earnings surged 710.2% to $29.3 million, up from $3.6 million in 2019. Revenues increased by 94% to $146.2 million. Year-to-date figures reflected a 468.1% rise in after-tax earnings to $51.3 million. The mortgage segment experienced a 141.6% revenue increase due to heightened refinance volumes, while the insurance segment benefitted from the integration of Kilpatrick Life Insurance Company, achieving profitability despite COVID-related challenges.
Security National Financial Corporation (NASDAQ-SNFCA) has announced a new lease encompassing approximately 5,700 square feet in its Center 53 campus in Murray, Utah, for Inside Real Estate's headquarters. The buildout is set to begin immediately, with anticipated occupancy in January 2021. This addition will elevate occupancy in Phase 1 of Center 53 to 93% and highlights the campus's appeal even during the Covid-19 pandemic. Inside Real Estate, a leading real estate software firm, serves over 200,000 clients with its innovative kvCORE platform.
Security National Financial Corporation (SNFCA) reported a 490.7% increase in after-tax earnings from operations for Q2 2020, reaching $20.56 million, compared to $3.48 million in 2019. Revenues surged by 73.4% to $118.66 million. The significant growth is attributed mainly to the mortgage segment, benefiting from lower interest rates and high refinance volumes. The company also indicated profitability improvements in its insurance segment after integrating Kilpatrick Life Insurance Company, despite increased death claims due to COVID-19. Net earnings per share was $1.10, up from $0.19 in the prior year.