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Security National Financial (SNFCA) investor relations material

Security National Financial Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary15 Aug, 2025

Executive summary

  • Q2 2025 revenues increased 4.4% year-over-year to $89.5M, driven by higher net investment income and gains, but net earnings fell 10% to $6.5M as higher expenses and segment losses offset gains.

  • Six-month net earnings totaled $10.8M, down 26% from the prior year, with diluted EPS of $0.42.

  • Q2 showed improvement over Q1, supported by a strong balance sheet and investment gains.

  • Company added to the Russell 2000, achieved accelerated filer status, and distributed a 5% stock dividend in July.

  • Segment net earnings declined in life insurance and cemetery/mortuary, while the mortgage segment reported a loss.

Financial highlights

  • Q2 2025 net investment income rose 14.1% year-over-year to $20.6M, mainly from higher mortgage loan interest.

  • Gains on investments and other assets swung to a $1.1M gain from a $0.4M loss in Q2 2024.

  • Cash decreased by $60M due to increased investments in bonds, real estate, and mortgage loans.

  • Book value per share rose to $14.35 as of June 30, 2025, from $13.76 at year-end 2024.

  • As of June 30, 2025, total assets were $1.54B and stockholders' equity was $354.8M.

Outlook and guidance

  • Management expects improved ROE as mortgage segment stabilizes and life insurance premium rate increases take effect.

  • Company expects significant accounting headwinds due to new audit and internal control requirements.

  • Confident in meeting compliance for accelerated filer status and LDTI adoption by year-end.

  • Continued investment in residential land and builder relationships is expected to yield higher future returns.

  • The company is assessing the impact of the OBBBA tax law but does not expect a material effect.

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Frequently asked questions

Security National Financial Corporation operates in three primary business segments: life insurance, cemetery and mortuary services, and mortgage lending. The life insurance segment focuses on selling and servicing various life insurance products, including annuities and accident and health insurance. The cemetery and mortuary segment operates funeral homes, cemeteries, and provides related products and services in Utah, California, and New Mexico. The mortgage segment is involved in originating and underwriting residential and commercial loans across several states, including Florida, Nevada, Texas, and Utah. The company is headquartered in Salt Lake City, Utah, and its shares are listed on the NASDAQ.

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