Tag: SNFC

Finance

Security National posts 70% increase in year over year revenues

Security National Financial Corporation (SNFC), the Utah based company with segments in the preneed insurance, funeral home assignment, mortuary, and cemetery business, released their 4th Quarter of 2020 and Year End 2020 results last week.  The first line from that press release which you can read here, states, “For the twelve months ended December 31, 2020, SNFC’s after-tax earnings from operations increased 410% from $10,894,000 in 2019 to $55,597,000 in 2020, on a 70% increase in revenues to $481,463,000.” To […]

Finance

Security National reports 3Q 2020: Hitting on all cylinders

We continue to roll out the earnings reports of the public death care companies and today is no exception.  Today we tell you about one of the quieter companies that is starting to make a name for themselves as they grow. That company is Utah based Security National Financial Corporation (SNFC) and divisions of the company are involved in mortuaries, cemeteries, funeral funding through insurance assignments, and preneed insurance.  In essence, from our point of view, while still small by […]

Finance

Security National has bang-up quarter, Memorial segment grows

Security National Financial Corporation (SNFC) is a diverse, but integrated company.  They are diverse in that they have three distinct segments – Mortgages, Life Insurance, and Cemeteries/Mortuaries – under their umbrella.  They are an integrated company in that all segments report together to bring a bottom line to the company. And, the integration was good for the Salt Lake City based public company in the 2nd Quarter of 2020 as you can read in their recently released financial results for […]

Finance

Security National reports revenue up, income down in Q1 2020 results

Back on May 18,2020, Security National Financial Corporation (SNFC) reported its 1st Quarter 2020 results that encompassed the period from January 1, 2020 to March 31, 2020.  The results, which you can see in a press release here, showed that the company increased revenues in the period compared to the prior year’s revenue by 29.2% but after tax earnings dropped 26.2%.  Net earnings per share for the quarter were $0.08 as compared to the 2019 1st Quarter net earnings of […]

Finance

Security National reports year end 2019

Security National Financial Corporation (SNFC), the Utah public company that is partly rooted in the preneed funeral insurance and mortuary/cemetery business, recently reported its 2019 year end financial results.  You can read the company’s press release on the results here. The results do say, “For the twelve months ended December 31, 2019, SNFC’s after-tax earnings from operations decreased 49.8% from $21.6 million in 2018 to $10.8 million in 2019, on a 1.2% increase in revenues to over $283 million. However, […]

Finance

StoneMor bucks the system

Those of us who have watched the markets over the last few weeks have seen a deterioration in the value of our private investment portfolios.  What has happened in the broader market is also indicative of what has happened in the death care industry with the exception of StoneMor, Inc. and its stock and valuation. StoneMor, based out of Trevose, Pennsylvania, operates approximately 320 cemeteries and 88 funeral homes in 27 states and Puerto Rico.  It is no secret that […]

Finance Preneed

Security National Financial acquires Kilpatrick Life Insurance

In a press release dated today out of Murray, Utah, we learned that the Security National Financial Corporation (SNFC) has closed on its purchase of the Kilpatrick Life Insurance Company domiciled in Louisiana.  Both companies operate to some degree in the pre-need funeral funding insurance market. You can read the press release as provided from Globe Newswire here. Scott M Quist, President of Security National is quoted in the press release, “We view this acquisition as strategic with regards to […]

Finance

Security National reports 3Q and 9-month 2019 financials

Security National Financial Corporation of Utah, a public company that has operations in both the mortuary and insurance businesses reported financial numbers for their 3rd Quarter of 2019 recently.  You can read their press release on that information here. 3rd Quarter Life Insurance revenues are up slightly to $29.8 million in 2019 from $28.9 million in 2018 during the same period.  They report, however, that their Cemetery/Mortuary revenue for the 3rd quarter is down in 2019 to $3.57 million from […]

Finance

Death Care investments have been good in 2019

Funeral Director Daily tracks its proprietary Death Care Index or DCI periodically.  The DCI is a group of eight publicly traded company stocks that each have some skin in the death care industry or profession.  They range from companies involved in death care services to companies who manufacture things like crematories, to companies involved in the sale of preneed funeral insurance. The eight companies that compose the DCI include Service Corporation International (SCI), Carriage Services, Park Lawn Corporation, Hillenbrand Industries, […]

Finance

Security National Cemeteries and Mortuaries revenue jumps 23% in 2018

Utah based Security National Financial Corporation issued their 2018 financial results earlier this month and you can see a statement from them here.  The company announced a company wide increase in revenues of 1% to over $279 million.  In addition, SNFC announced that their after-tax earnings from operations jumped over 53% from about $14 million in 2017 to $21.68 million in 2018. SNFC operates in three segments:  Life Insurance, Mortgages, and Cemeteries/Mortuaries.  At Funeral Director Daily we are most concerned […]