Thu, May 15, 1:07 PM (34 days ago)
**Security National Financial Corporation (SNFCA) Q1 2025 Financial Summary** **Financial Health and Performance Metrics:** - **Revenue:** $82.74 million, up 1.9% YoY. - **Net Earnings:** $4.34 million, down 41.6% YoY. - **Profit Margins:** Net margin at 5.25%, down from 9.23% YoY. - **Cash Flow:** Operating cash flow at $9.59 million, down from $25.08 million YoY. - **Earnings Changes:** Earnings per share (EPS) at $0.18, down from $0.32 YoY. **Revenue Breakdown:** - **Mortgage Fee Income:** $24.81 million, up 13.6% YoY. - **Insurance Premiums:** $29.78 million, down 0.2% YoY. - **Net Investment Income:** $19.20 million, down 3.7% YoY. - **Net Mortuary and Cemetery Sales:** $7.30 million, up 5.1% YoY. **Expenses and Benefits:** - **Total Benefits and Expenses:** $77.17 million, up 14.7% YoY. - **Selling, General, and Administrative Expenses:** $43.86 million, up 14.7% YoY. - **Interest Expense:** $1.12 million, up 9.0% YoY. **Quarterly Performance Discussion:** - **Insurance Operations:** Decreased profitability due to higher expenses and lower gains on investments. - **Cemetery and Mortuary Operations:** Decreased profitability due to lower net investment income and gains on investments. - **Mortgage Operations:** Increased losses due to higher commissions and personnel expenses. **Trends and Uncertainties:** - **Market Conditions:** Higher mortgage rates affected loan originations. - **Economic Factors:** Inflation and interest rate changes impacted investment income. - **Operational Challenges:** Increased expenses in commissions, personnel, and administrative costs. **Future Operations Impact:** - **Strategic Focus:** Continued emphasis on niche insurance products, cemetery and mortuary business, and mortgage lending. - **Risk Management:** Monitoring market conditions, economic factors, and operational efficiencies. - **Financial Strategy:** Maintaining adequate liquidity and capitalization to support long-term liabilities and operational expenses. **Note:** Amounts are in thousands, 000s.