Security National Financial (NASDAQ:SNFCA) reported Q1 2026 after-tax earnings of $7.0 million, up over 9% from $6.4 million, on revenues of $79.7 million, down 3.6%. Pre-tax earnings rose to $9.1 million. EPS increased to $0.28 from $0.26 and book value per share to $17.17 from $16.54.
Life Insurance revenue fell 4.0% with earnings before tax down 5.1%. Funeral Homes/Cemeteries revenue grew 4.4% but pre-tax earnings declined 4.0% due to investment losses. The Mortgage segment’s loss improved by about 65%, with pre-tax results moving from a $2.0 million loss to a $0.7 million loss.
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Positive
After-tax earnings up over 9% to $7.0 million
Pre-tax earnings up 9.7% to $9.1 million
EPS increased to $0.28 from $0.26
Book value per share rose to $17.17 from $16.54
Mortgage segment pre-tax loss reduced by about 65%
Funeral Homes/Cemeteries revenue grew 4.4% year over year
Negative
Total revenues declined 3.6% year over year to $79.7 million
Life Insurance segment revenue down 4.0%; pre-tax earnings down 5.1%
This announcement highlights Q1 2026 profitability gains, with net earnings of $7.0 million and EPS ...
Analysis
This announcement highlights Q1 2026 profitability gains, with net earnings of $7.0 million and EPS of $0.28 on revenues of $79.7 million, alongside book value per share of $17.17. Segment trends were mixed, with revenue pressure in Life Insurance and Mortgages but operational improvements and cost efficiencies. Compared with prior 2025 quarters, this continues a shift toward stronger bottom-line performance. Investors may watch future quarters for revenue reacceleration and segment-level consistency.
Key Figures
Net earnings Q1 2026:$7,001,000Net earnings Q1 2025:$6,414,000Pre-tax earnings Q1 2026:$9,052,000+5 more
8 metrics
Net earnings Q1 2026$7,001,000After-tax earnings for three months ended March 31, 2026
Net earnings Q1 2025$6,414,000After-tax earnings for three months ended March 31, 2025
Pre-tax earnings Q1 2026$9,052,000Earnings before taxes for three months ended March 31, 2026
Total revenues Q1 2026$79,729,000Consolidated revenues for three months ended March 31, 2026
EPS Q1 2026$0.28 per shareNet earnings per common share, three months ended March 31, 2026
Book value per share$17.17Book value per common share as of March 31, 2026
Life Insurance revenue$47,330,000Life Insurance segment revenues Q1 2026
Increase in land holdings$37,000,000Increase in land holdings affecting investment income recognition
Q1 2025 net earnings and EPS declined significantly year over year.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Earnings-related headlines for SNFCA have generally produced modest moves, with positive fundamental updates often met by mild gains and weak quarters aligning with declines, except for one positive reaction to negative Q3 2025 results.
Recent Company History
Recent history shows mixed but generally constructive fundamentals. In Q1 2025, net earnings fell 42% and the stock dropped 3.41%. Subsequent quarters (Q2 and Q3 2025) also reported lower earnings, with price reactions of -1.83% and +1.47%, respectively. By March 16, 2026, full-year 2025 results highlighted 10.8% growth in after-tax earnings and a $1.26 EPS, with a 4.12% price gain. Today’s Q1 2026 earnings continue the profitability-improvement narrative following that annual report.
Key Terms
basis points, statutory accounting principles, net portfolio yield
3 terms
basis pointsfinancial
"That unexpected decline represented nearly 50 basis points of revenue/profit"
Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.
statutory accounting principlesregulatory
"our underwriting profit, as measured using statutory accounting principles, has significantly increased"
Statutory accounting principles are the legal rules insurers and some regulated financial firms must follow when preparing reports for regulators. They are designed to show a conservative view of a company’s ability to pay claims and meet capital requirements, like using stricter safety margins than regular financial reports. Investors care because these reports determine a firm’s regulatory health, dividend ability and potential supervisory actions, similar to how a safety inspection affects whether a bridge is allowed to carry heavy loads.
net portfolio yieldfinancial
"our net portfolio yield for Q1, as nearly as I can tell, is still about 100 basis points"
Net portfolio yield is the annual income a portfolio produces—such as dividends and interest—expressed as a percentage of the portfolio’s value after subtracting ongoing costs like management fees and transaction expenses. Think of it as the after-fees interest rate you earn on your investments; investors use it to compare how much cash a portfolio actually returns each year and to judge whether income is sufficient or sustainable relative to risk.
SALT LAKE CITY, May 11, 2026 (GLOBE NEWSWIRE) -- Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the quarter ended March 31, 2026.
For the three months ending March 31, 2026, SNFC’s after tax earnings increased over 9%, or approximately $587,000, from $6,414,000 in 2025 to $7,001,000 in 2026. Pre Tax earnings increased nearly 10%, or $802,000, to $9,052,000 (please see the table below).
Scott M. Quist, President and Chief Executive Officer of SNFC, said, “To have an increase of over 9% in after tax earnings despite a top line decrease is a testament to the operational efficiencies our teams have been implementing over the last several years. Of course we are working diligently to also increase our top line, and that is a stated objective of all of our units. Nevertheless, improved profitability is the ultimate goal and we did improve profitability.
“Our Mortgage Segment had an outstanding quarter, despite the fact we were still not profitable, improving by over 65% from Q1 of 2025. We were cautiously optimistic that we would be profitable in Q1. Our teams had worked diligently to improve revenue and to rationalize costs in arguably the weakest quarter of the year, but our secondary investor pricing in March declined from what was indicted when we locked our loans to what was realized when the loans were sold. That unexpected decline represented nearly 50 basis points of revenue/profit on nearly $200MM in volume - so it was significant. Obviously we are reevaluating our processes, but it is fair to say that we followed our customary policies and procedures and were surprised at the ultimate investor pricing. Even with that unfortunate secondary market result, I believe congratulations are due for an outstanding 65% quarter-over-quarter improvement.
“Our Funeral Home and Cemetery Segment improved its top line by 4.4% in Q1, but had a decrease in net income. That decrease deserves some explanation. On an operational basis, meaning before investment results, our operating income actually improved some 16% over Q1 2025. This was accomplished primarily by a 35% improvement in preneed cemetery sales. The hard work that has been put in over the last year is showing up in sales, which argues for an even brighter future. Congratulations to our sales teams for a fabulous result! The culprit leading to our decrease in net income as shown in the table below was our investment income (as opposed to operational income), with the largest factor being unrealized losses in our common stock portfolio. Our Funeral Homes and Cemetery Segment, because of its consistently profitable operations, has a very considerable investment portfolio which we intend to use, as conditions warrant, in financing acquisitions and other future growth.
“Our Life Insurance Segment, per the table below, had a 4% decrease in its top line. As has been noted in several prior press releases, we have been reorganizing and improving our sales forces over the last two years which has necessitated some reorganizations, some terminations, and some turmoil. This process is continuing. I believe I am seeing a turnaround in all of our marketing channels, but progress continues to be considered and deliberate. I will note that the majority of the top line decrease was in our least profitable products. In fact, our underwriting profit, as measured using statutory accounting principles, has significantly increased due to our improved premium margins. That has been a very deliberate strategy over the last period of time. If I were to point to a single factor leading to our net income decrease, it would be a decline in our builder profit splits or, phrased another way, and similar to our Funeral Homes and Cemetery Segement, a decrease in net investment income. However, that characterization is somewhat nuanced in that we also increased our land holdings by $37MM which has the effect of decreasing, all other things being equal, our investment income since our profits on land holdings are not recognized until the land is either sold or when vertical construction thereon begins. I think it is important to maintain perspective and keep in mind that our net portfolio yield for Q1, as nearly as I can tell, is still about 100 basis points above industry averages.
“To summarize, our top line revenue did decrease some 4%, but our profitability increased by over 9%. I think all of our teams did a great job implementing efficiencies. Make no mistake, top line growth continues to be a main objective, but improved profitability is the primary objective and that objective we achieved.”
SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three months ended March 31, 2026, as compared to 2025, for each business segment:
Revenues
Earnings before Taxes
2026
2025
2026
2025
Life Insurance
$
47,330,000
$
49,287,000
(4.0%)
$
7,601,000
$
8,007,000
(5.1%)
Funeral Homes/Cemeteries
$
8,473,000
$
8,119,000
4.4%
$
2,149,000
$
2,238,000
(4.0%)
Mortgages
$
23,926,000
$
25,334,000
(5.6%)
$
(698,000
)
$
(1,995,000
)
65.0%
Total
$
79,729,000
$
82,740,000
(3.6%)
$
9,052,000
$
8,250,000
9.7%
Net earnings per common share was $.28 for the three months ended March 31, 2026, compared to net earnings of $.26 per share for the prior year, as adjusted for the effect of annual stock dividends. Book value per common share was $17.17 as of March 31, 2026, compared to $16.54 as of December 31, 2025.
The Company has two classes of common stock outstanding, Class A and Class C. There were 24,777,818 Class A equivalent shares outstanding as of March 31, 2026.
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 M. Quist at:
Security National Financial Corporation P.O. Box 57250 Salt Lake City, Utah 84157 Phone (801) 264-1060 Fax (801) 264-8430
FAQ
What were Security National Financial’s (SNFCA) Q1 2026 earnings and revenue?
Security National Financial reported Q1 2026 after-tax earnings of $7.0 million on revenues of $79.7 million. According to Security National Financial Corporation, earnings rose over 9% from $6.4 million, while revenues declined 3.6% from $82.7 million compared with Q1 2025.
How did SNFCA increase Q1 2026 profits despite lower revenue?
SNFCA increased Q1 2026 profits through operational efficiencies and margin improvements across segments. According to Security National Financial Corporation, total revenue fell about 3.6%, but pre-tax earnings rose 9.7% to $9.1 million and after-tax earnings climbed over 9% to $7.0 million.
How did Security National Financial’s business segments perform in Q1 2026?
In Q1 2026, Life Insurance revenue fell 4.0%, Funeral Homes/Cemeteries revenue rose 4.4%, and Mortgage revenue declined 5.6%. According to Security National Financial Corporation, pre-tax earnings fell in Life Insurance and Funeral/Cemeteries, while the Mortgage segment’s pre-tax loss improved by about 65% year over year.
What was SNFCA’s Q1 2026 EPS and book value per share?
SNFCA reported Q1 2026 diluted net earnings per share of $0.28 and book value of $17.17. According to Security National Financial Corporation, EPS increased from $0.26 a year earlier, and book value rose from $16.54 at December 31, 2025.
How did the Mortgage segment impact SNFCA’s Q1 2026 results?
The Mortgage segment remained unprofitable but showed substantial improvement in Q1 2026. According to Security National Financial Corporation, its pre-tax loss narrowed by about 65%, from approximately $2.0 million in Q1 2025 to around $0.7 million, helped by cost rationalization and revenue efforts.
Why did Funeral Homes and Cemeteries net income decline for SNFCA in Q1 2026?
Funeral Homes and Cemeteries net income declined mainly due to lower investment income and unrealized equity losses. According to Security National Financial Corporation, operational income in this segment actually improved about 16%, supported by roughly 35% growth in preneed cemetery sales, despite the net income decrease.
What affected Security National Financial’s Life Insurance segment in Q1 2026?
The Life Insurance segment saw a 4% revenue decline and a 5.1% drop in pre-tax earnings in Q1 2026. According to Security National Financial Corporation, ongoing sales-force reorganization and lower builder profit splits, alongside reduced investment income, were key factors affecting segment performance.
