Security National Financial Corporation Reports Q1 2026 Results with Revenue Decline and Increased Net Earnings

Security National Financial Corporation reported its financial results for the first quarter of 2026, revealing a total revenue of $79.73 million, a decrease of 3.6% from $82.74 million in the same period of 2025. The decline in revenue was attributed to a drop in mortgage fee income, which fell by $1.32 million to $23.49 million, alongside a $924,000 decrease in insurance premiums and other considerations. Net investment income also decreased by $701,000 to $18.50 million. However, net funeral home and cemetery sales increased by $434,000, reaching $7.73 million, driven by higher pre-need sales.

The company's net earnings for the quarter were $7.00 million, up from $6.41 million in the prior year, resulting in a basic earnings per share of $0.28, compared to $0.26 in 2025. This increase in net earnings was supported by a reduction in policyholder benefits and claims, which decreased by $916,000 to $24.54 million, and a significant drop in selling, general, and administrative expenses, which fell by $2.94 million to $40.93 million. The effective tax rate for the quarter was 22.7%, slightly higher than the 22.3% reported in the previous year.

In terms of operational developments, the company reported a total asset value of $1.58 billion as of March 31, 2026, an increase from $1.56 billion at the end of 2025. The company’s investments totaled $1.03 billion, with fixed maturity securities valued at $367.57 million, down from $382.78 million in the previous quarter. The company also saw an increase in cash and cash equivalents, which rose to $150.12 million from $102.26 million. The total liabilities stood at $1.16 billion, with future policy benefits and unpaid claims amounting to $790.95 million.

Looking ahead, Security National Financial Corporation plans to continue focusing on its strategic initiatives, including niche insurance products and expanding its funeral home and cemetery operations. The company remains committed to capitalizing on the housing market through its mortgage lending activities. Management expressed confidence in the company’s ability to navigate current market conditions and maintain adequate cash flows to meet its long-term obligations. The company’s capital structure remains strong, with stockholders’ equity representing 79.6% of total capitalization as of March 31, 2026.