Security National Financial's Q3 after-tax earnings fall

Reuters
Nov 14
<a href="https://laohu8.com/S/SNFCA">Security National</a> Financial's Q3 after-tax earnings fall

Overview

  • SNFC Q3 after-tax earnings decrease 34% yr/yr to $7.8 mln

  • Company revenue increases 1.2% yr/yr, driven by improved Cemetery/Mortuary segment

  • Mortgage segment posts profit, marking third profitable quarter in 3 years

Outlook

  • Company to implement new accounting standards in Life Insurance segment in Q4

  • SNFC sees strength in move-up real estate markets, weakness in first-time buyer markets

  • Company focusing on improving sales and management talent in Life Insurance segment

Result Drivers

  • PERSONNEL COSTS - Co reports flat personnel costs for the qtr, offsetting talent hiring costs with operational efficiencies

  • MORTGAGE SEGMENT PROFIT - Mortgage segment posts profit, marking third profitable qtr in 3 yrs despite market challenges

  • CEMETERY SALES - Improved results in Cemetery/Mortuary segment due to stabilized preneed cemetery land sales

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M EPS

$0.32

Press Release: ID:nGNXbkcwcS

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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