Security National Financial Corporation (NASDAQ: SNFCA) reported Q2 2026 after-tax earnings of $8.98 million, up 7.3% from $8.37 million in 2025, on revenues of $83.93 million, down 6.3%. For the first six months of 2026, after-tax earnings rose 8.1% to $15.98 million on revenues of $163.66 million, a 5.0% decline year over year.
The Life Insurance segment posted lower revenue and earnings, while Cemeteries/Mortuaries grew revenue 20.7% in Q2 and earnings before taxes 69.5%. The Mortgage segment returned to slight profitability in Q2. Net earnings per share for the first half were $0.60 versus $0.55 a year earlier, and book value per common share was $16.63 at June 30, 2026, with 26,034,378 Class A equivalent shares outstanding.
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Positive
After-tax earnings up 7.3% in Q2 to $8.98M
First-half after-tax earnings up 8.1% to $15.98M
Net EPS increased to $0.60 for first half vs. $0.55
Book value per share rose to $16.63 from $15.75
Cemeteries/Mortuaries Q2 revenue up 20.7%, EBT up 69.5%
Mortgage segment Q2 EBT improved from -$1.67M to $0.07M
Negative
Total Q2 revenue declined 6.3% to $83.93M
First-half revenue down 5.0% to $163.66M
Life Insurance Q2 revenue down 7.2%, EBT down 19.5%
Life Insurance first-half EBT down 13.3% to $16.15M
Mortgage segment revenues down 12.1% in Q2 and 9.1% YTD
News Explained
Security National Financial Corporation issued a corrected release replacing the previously reported book value per common share with $16.63 and 28,034,378 Class A equivalent shares with 26,034,378, as of June 30, 2026.
Market Context
Historical earnings reactions averaged 1.57%, giving the platform a comparison point for this earnin...
Analysis
Historical earnings reactions averaged 1.57%, giving the platform a comparison point for this earnings report. The record adds context to improving profitability amid lower revenue, while low short positioning remained a risk factor to monitor.
Key Figures
Quarterly after-tax earnings:$8,982,000 (+7.3%)First-half after-tax earnings:$15,983,000 (+8.1%)Quarterly revenue:$83,926,000 (-6.3%)+5 more
8 metrics
Quarterly after-tax earnings$8,982,000 (+7.3%)Three months ended June 30, 2026 vs. 2025
First-half after-tax earnings$15,983,000 (+8.1%)Six months ended June 30, 2026 vs. 2025
Quarterly revenue$83,926,000 (-6.3%)Three months ended June 30, 2026 vs. 2025
First-half revenue$163,655,000 (-5.0%)Six months ended June 30, 2026 vs. 2025
Cemeteries/Mortuaries Q2 results$9,828,000 revenue; $3,041,000 earnings before taxes (+20.7%; +69.5%)Three months ended June 30, 2026 vs. 2025
Net earnings per common share$0.60 vs. $0.55Six months ended June 30, 2026 vs. prior year
Book value per common share$16.63 vs. $15.75June 30, 2026 vs. December 31, 2025
Class A equivalent shares outstanding26,034,378 sharesAs of June 30, 2026; corrected figure
Scheduling notice preceded a positive reaction without reporting operating results.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Tag-specific earnings history showed alignment in three of five events and divergence in two, including a positive reaction to negative Q3 results.
Key Terms
book value per common share, class a equivalent shares, underwriting, preneed
4 terms
book value per common sharefinancial
"book value per common share was $16.63 as of June 30, 2026"
The amount of a company’s net worth that is allocable to each common share, calculated by taking the company’s total assets minus its liabilities and dividing that net figure by the number of common shares outstanding. Investors use it as a back‑of‑the‑envelope measure of what each share would be worth if the company’s assets were converted to cash and debts paid; it’s especially useful for spotting stocks that may be cheap relative to their underlying assets, much like checking the estimated resale value of a house per room.
class a equivalent sharesfinancial
"There were 26,034,378 Class A equivalent shares outstanding"
Class A equivalent shares convert other share classes, options, warrants or convertible securities into the number of Class A shares they would represent, producing a single, comparable count of common-share equivalents for reporting. This matters to investors because it clarifies how many common-share units exist on a like-for-like basis, making dilution, ownership stakes and per-share metrics easier to compare—like converting different currencies into one unit to see true value.
underwritingtechnical
"underwriting, and closing and funding, to achieve greater efficiencies"
Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.
A preneed is a contract sold in advance for services or goods to be provided in the future, most commonly used for funeral, cemetery, or related arrangements where the buyer pays now to lock in arrangements later. For investors, preneed sales create upfront cash, future revenue recognition obligations, and potential trust or insurance arrangements that affect a company’s reported sales, liabilities, and cash flow predictability—similar to buying a prepaid service today for use years later.
SALT LAKE CITY, Aug. 10, 2026 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA"), please note that in the first paragraph below the tables, the book value per common share as of June 30, 2026 should be $16.63, not $15.45 as previously stated;and in the second paragraph below the tables, the number of Class A equivalent shares outstanding as of June 30, 2026 should be 26,034,378, not 28,034,378 as previously stated. The corrected release follows:
Security National Financial Corporation (SNFC) (NASDAQ symbol "SNFCA") announced financial results for the quarter ended June 30, 2026. For the three months ended June 30, 2026, SNFC’s after-tax earnings increased 7.3% from $8,371,000 in 2025, to $8,982,000 in 2026.For the six months ended June 30, 2026, after-tax earnings increased 8.1% to $15,983,000, from $14,784,000 in 2025.
Scott M. Quist, President of the Company, said:
“I am pleased to report that our second quarter earnings, after tax, increased 7.3% over 2025, and that our first-half earnings increased 8.1%, after tax, over 2025. This improved profitability for both the quarter and the first half of the year illustrates the very solid operational and sales progress we have made in all of our business segments. It is not lost on me that our top-line revenue decreased 6.3% for the quarter and 5% for the half. We are working aggressively, and in my view successfully, to address those revenue issues. But our first goal was improved profitability, and we achieved that goal.
Our Mortgage Segment can be considered the “star” for the first half of 2026, delivering two very solid quarters of improved performance. The Mortgage Segment improved Q1 year-over-year profitability by $1.4MM and then followed that great performance in Q2 with a $1.6MM improvement, for a total $3.0MM profit improvement for the first half of 2026. Revenue did decrease 9.1% for the first half, which is never our goal, but that decrease highlights the tremendous operational improvements that were accomplished. Obviously, there is a nexus between revenue and profitability, but in this market if we must choose one or the other, meaning revenue growth or improved profitability, at this juncture I much prefer the improved profitability. A “shout out” is owed to the entire company for this improved performance. Suffice it to say that all aspects have been worked, worked again, and reworked over the last several years, including management structures, margins, marketing, commissions, products, pricing, back office, secondary operations, underwriting, and closing and funding, to achieve greater efficiencies. Much work remains to be done, but after all the hard work of our team it is gratifying to see this Segment profitable in Q2 and within striking distance of profitability for the year.
Our Cemetery and Mortuary Segment also delivered stellar results increasing revenue by 21% for the quarter and by 13% for the first half, with a corresponding profit improvement of 69% for the quarter and 29% for the first half. As is many times the case, there is much movement going on “under the hood” in achieving those impressive results. First, the overall backdrop. While it is difficult to precisely quantify at this time, I believe most would agree that the death rate in the United States dropped in 2026 to its lowest level in recent years. The improved mortality experienced in our Life Insurance Segment, decreased case counts in our funeral funding operations, and reviews of our publicly-traded peers all reinforce that conclusion. Thus, looking within this Segment at our mortuary-only results, while revenue did increase by some 3% for the first half, profitability actually decreased some 9%. We believe that we have generally increased our market share, but it has been a struggle because of this year’s declining death rate. However, demonstrating the benefit of diversified income streams, our cemetery-only results showed an 11% revenue improvement with a 17% profitability improvement, basically as the result of improved preneed cemetery sales. Our cemetery preneed sales results show that we are controlling that which we can control, which is leading to overall profit improvement. Many thanks to the considerable effort that has gone into rebuilding our preneed cemetery sales force. In addition to the improved preneed sales results, we had a $1MM favorable investment tailwind in the second quarter, which reversed the unfavorable investment results we experienced in the first quarter. All in, we achieved a nearly 23% Segment net profit margin in the first half, which in my view is admirable.
Our Life Insurance Segment also made very significant positive progress despite its top-line revenue decrease of 5.5% for the first half and a profitability decrease of 13%. I don’t believe those numbers are illustrative of the significant progress which has been accomplished in nearly all facets of our business. Regarding the revenue decrease there are two major components, which are premium revenue, the smaller component of the decrease, and investment income revenue. While there are numerous inputs into the reported premium amount, which makes generalizing somewhat hazardous, to me the premium revenue decline is primarily due to fewer single-premium products being sold in 2026, which in my view is our least profitable product. Our modal-pay product sales have actually increased year-to-date, but those effects won’t be realized in our financial statements for several periods. As I have noted in prior releases, we have been spending significant time and resources in improving our sales functions, which efforts in my view have been very successful even being measured at this very initial stage. Illustrative of that initial success, first-year premium sales are now up vs. 2025. We have much work to do, but we have built, and are building, excellent offerings for the marketplace, to include a much improved onboarding process for new sales personnel, ease of application for both the agent and the customer, quicker real time underwriting decisions, better lead generation and management, more predictable commission and advance structures, and better quality measuring metrics, all resulting in significant first-year traction.
The larger factor in this Segment’s revenue decline, and probably also the larger factor in its profitability decline, is its investment income. Specifically, we had lower builder profit splits in 2026 vis a vis 2025, and also decreased interest income. We have made specific strategic decisions to increase our landholdings, which in my view will lead to greater profits in the future, albeit at the cost of current profitability since we recognize no profit on land until it is either sold or a home on it has started construction. Many of our landholdings have a 12 to 24 month, or longer, time horizon, so increasing landholdings does suppress both revenue and profit in the current period, in favor of greater profitability in the future. Regarding the decrease in interest income, this result reflects the impact of loan payoffs, increased rate competition, and lower loan origination volumes during Q1. Construction-related loan originations, however, rebounded strongly during Q2. Utah new-home starts were down significantly in 2025 (which trend appears to be continuing in 2026), which led to decreased construction loans. Primarily due to lower loan production our cash position has increased by some $61MM since Dec 31, 2025, which does earn “bank interest” but at a rate below that of our lending activities. Despite those declines, I don’t believe we have ever had better processes or more talented and capable people in responsible positions than we do today. In summary, I believe we have improved capacity, more talented people, greater wherewithal, and better sales offerings in both product and processes, than we have ever had.
In a nutshell, when viewed as a whole, SNFC increased profitability in the quarter by 7.3%, and for the first half by 8.1%, despite a decline in revenue. Many thanks to our hard-working teams for achieving those impressive operational results.”
SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three months ended June 30, 2026, as compared to 2025, for each of the three business segments:
Revenues
Earnings before Taxes
2026
2025
2026
2025
Life Insurance
$
47,838,000
$
51,525,000
(7.2
%)
$
8,547,000
$
10,616,000
(19.5
%)
Cemeteries/Mortuaries
$
9,828,000
$
8,140,000
20.7
%
$
3,041,000
$
1,794,000
69.5
%
Mortgages
$
26,260,000
$
29,876,000
(12.1
%)
$
71,000
$
(1,671,000
)
104.2
%
Total
$
83,926,000
$
89,541,000
(6.3
%)
$
11,659,000
$
10,739,000
8.6
%
For the six months ended June 30, 2026:
Revenues
Earnings before Taxes
2026
2025
2026
2025
Life Insurance
$
95,168,000
$
100,811,000
(5.6
%)
$
16,148,000
$
18,623,000
(13.3
%)
Cemeteries/Mortuaries
$
18,301,000
$
16,260,000
12.6
%
$
5,190,000
$
4,032,000
28.7
%
Mortgages
$
50,186,000
$
55,210,000
(9.1
%)
$
(627,000
)
$
(3,666,000
)
82.9
%
Total
$
163,655,000
$
172,281,000
(5.0
%)
$
20,711,000
$
18,989,000
9.1
%
Net earnings per common share was $.60 for the six months ended June 30, 2026, compared to net earnings of $.55 per share for the prior year and book value per common share was $16.63 as of June 30, 2026, compared to $15.75 as of December 31, 2025, after adjustments for the effect of annual stock dividends.
The Company has two classes of common stock outstanding, Class A and Class C. There were 26,034,378 Class A equivalent shares outstanding as of June 30, 2026.
An earnings call will commence at approximately 1PM (MDT) on August 13th and will include a review of its 2nd Quarter results as well as an update from the Company’s three business segments. Shareholders may access the earnings call by clicking the link below:
The earnings call can also be accessed directly from the Company’s website under “Events” on the Investor Relations page.
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) 264-8430
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.
FAQ
How did Security National Financial (SNFCA) perform in Q2 2026?
Security National Financial reported Q2 2026 after-tax earnings of $8.98 million, up 7.3% year over year. According to Security National Financial, quarterly revenue declined 6.3% to $83.93 million, reflecting segment revenue pressure despite improved profitability.
What were SNFCA’s first-half 2026 earnings and revenue results?
For the six months ended June 30, 2026, Security National Financial reported after-tax earnings of $15.98 million, up 8.1% from 2025. According to Security National Financial, first-half revenue decreased 5.0% to $163.66 million, indicating margin gains despite lower top-line performance.
How did Security National Financial’s business segments perform in Q2 2026?
In Q2 2026, Life Insurance revenue fell 7.2% and earnings before taxes fell 19.5%. Cemeteries/Mortuaries revenue grew 20.7% with 69.5% EBT growth, while Mortgages revenue declined 12.1% but EBT improved from a $1.67 million loss to a modest profit.
What was SNFCA’s EPS and book value per share as of June 30, 2026?
Security National Financial reported first-half 2026 net earnings per common share of $0.60, up from $0.55 a year earlier. According to Security National Financial, book value per common share was $16.63 at June 30, 2026, versus $15.75 at December 31, 2025.
How did the Mortgage segment impact SNFCA’s Q2 2026 results?
The Mortgage segment’s Q2 2026 revenue declined 12.1% to $26.26 million, but earnings before taxes improved to a $0.07 million profit. According to Security National Financial, this compares with a $1.67 million loss in Q2 2025.
How strong was Security National Financial’s Cemeteries and Mortuaries segment in 2026?
In Q2 2026, Cemeteries/Mortuaries revenue reached $9.83 million, up 20.7% year over year, with EBT of $3.04 million, a 69.5% increase. According to Security National Financial, first-half segment revenues rose 12.6% and earnings before taxes increased 28.7%.
When is Security National Financial’s Q2 2026 earnings call for SNFCA investors?
Security National Financial scheduled its Q2 2026 earnings call for 1:00 p.m. MDT on August 13. According to Security National Financial, shareholders can access the webcast via the investor relations “Events” section on the company’s website or through the provided event link.
