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.)