Tag: SNFC

Finance

Security National after tax earnings decline 121% in 3Q 2022

In the 3rd Quarter of 2022 earnings release for Security National Financial Corporation (SNFC) released earlier this week, Scott M. Quist, the company’s President stated, “2022 is continuing to be a challenging year for our Company due primarily to the dramatic rise in inflation and interest rates, and the dramatic fall in equity values. In the mortgage space, purchase transactions are down roughly 40% YOY and refinance transactions are down roughly 80% YOY. Equity values, as measured by the S&P […]

Finance

Security National sees death claims “level off” and announces relationship with Live Oak Bank

Security National Financial Corporation (SNFC) is the last of our seven companies that comprise the Death Care Index (DCI) to report financial numbers for the April thru June 2022 period. . . which they did last week.  You can see the SNFC press release and numbers here. As you may know, SNFC operates three divisions — two of which are of much interest to the death care profession.  Those being their Life Insurance/Preneed business and another division which they call […]

Finance

Security National’s 1st Quarter — Memorial segment has revenue rise, but earnings decrease

Security National Financial Corporation (SNFC), the Utah based company that has three separate business segments including those that operate in the retail mortuary and cemetery space, the preneed insurance space, and is also the parent company of C & J Financial, had very mixed results in the 1st Quarter of 2022 as seen in their press release here.  The company’s largest, by revenue, segment is their Mortgage Segment and as you can imagine home prices and interest rates played a […]

Finance

Security National Financial shows earnings increases in both Memorial and Life Insurance segments

Security National Financial Corporation (SNFC), the Utah based multi-pronged company with divisions in funeral homes and cemeteries and also with its insurance division involved in preneed insurance, had its full-year after-tax earnings drop from $55.5 million in 2020 to $39,5 million in 2021.  It’s Earnings before taxes also dropped about $20 million for the three segment company. However, all of that reduced profitability occurred in the company’s Mortgage Division while earnings before taxes from its Life Insurance Division and Memorial […]

Finance

Security National Financial makes two January acquisitions

Security National Financial Corporation (SNFC), parent company of Utah-based Memorial Mortuaries announced in two separate press releases the acquisition of two funeral service companies, one of which also operates a large cemetery in addition to their four funeral locations. In this press release you can read of the acquisition of Salt Lake City provider Holbrook Mortuary.  Holbrook Mortuary is a third-generation firm and has been in operation since 1941.  Here’s what SNFC’s President Scott M. Quist said of this addition […]

Finance

Security National Memorial segment increases earnings 125% for first nine months of 2021

Security National Financial Corporation (SNFC) released this press release earlier in November which memorialized their operations for the 3rd Quarter of 2021 as well as the first nine-months of 2021.  The Utah based company operates in three business segments with one of those segments being what they call their Memorial Segment. For the nine months ended on September 30, 2021, the Memorial Segment reported revenue of $20.5 million as compared to nine-month sales in 2020 of $14.8 million. . . […]

Finance

Security National’s Cemetery/Mortuary revenues up 28% in Q2

Security National Financial Corporation of Utah revealed their 2nd Quarter 2021 financial numbers earlier this month.  Total revenues for the entire company were actually down about 2% overall as their Mortgage Division saw an overall 8% decline in revenues as compared to the same quarter of 2020. However, the company’s Life Insurance division, which included preneed insurance and its Cemetery/Mortuary divisions both saw an increase in revenues which lowered that overall revenue loss to only 2%.  The Life Insurance Division […]

Finance

Funeral stocks continue solid climb

As of last Friday, June 4, we were over five months into the 2021 calendar year.  Funeral Director Daily decided it was time to take a look at where the Death Care stocks were in relation to the stock market indices up to that day. What we found out is that the stocks of companies that comprise the Funeral Director Daily Death Care Index (DCI) continue to show a positive movement — and even higher growth than the indices of […]

Finance

Security National keeps growing revenues

Security National Financial Corporation (SNFC) continues to reel in the revenue in each of their three divisions according to this press release from mid-May containing their 1st Quarter 2020 results.  The Utah based company conducts business in the death care field both in the financial services realm and the funeral and cemetery services realm. In the financial services sector SNFC is involved with preneed funeral insurance and insurance assignment business with participating funeral homes.  They also conduct business with their […]

Finance

Death Care outpaces Dow, Nasdaq, and S&P for first third of 2021

For the first time that I can remember since I have followed what is termed the Death Care Index (DCI), the DCI for a period of time has outpaced the standard measures of America’s public companies, the Dow Jones Industrial Average, the Nasdaq, and the S & P 500.  For the time period of January 1, 2021, through the close of business last Friday, April 30, 2021, the Death Care Index has grown at a pace of 17.7%. The DCI, […]