Security National Financial ( (SNFCA) ) has released its Q4 earnings. Here is a breakdown of the information Security National Financial presented to its investors.
Security National Financial Corporation (SNFC) is a diversified company operating in the life insurance, cemetery and mortuary, and mortgage sectors, known for its commitment to quality service and employee satisfaction.
In its latest financial results for the year ending December 31, 2024, SNFC reported a significant increase in after-tax earnings, rising 83% to $26.5 million, alongside a 5% growth in revenues to $334.5 million. The company attributes this growth to strong performances across its business segments.
The Life Insurance segment achieved its best operational year, with a 25% improvement over the previous year, while the Cemetery and Mortuary segment also reported its best year with a 5% increase. The Mortgage segment reduced its losses by 64%, despite industry challenges, and increased its revenue by over 8%. The company’s strategic focus on improving sales force efficiency and modernizing commission systems has been pivotal in driving these results.
The company’s net earnings per share rose to $1.11 from $0.61, and the book value per share increased to $14.45. These financial metrics underscore SNFC’s robust performance and strategic execution over the past year.
Looking ahead, SNFC’s management remains optimistic about future growth opportunities, emphasizing continued efforts to enhance competitive positions and value propositions across its segments, despite the challenging economic environment.