The company did not provide specific financial guidance for the current quarter or full year.
What drove the results
Mortgage segment turnaround - The mortgage segment returned to profitability with a $1.6 million year-over-year improvement in Q2, attributed to operational changes.
Cemetery/mortuary growth - Cemetery and mortuary segment revenue rose 21% and profit 69% in Q2, driven by improved preneed cemetery sales and a $1 million favorable investment result.
Life insurance pressure - Life insurance segment revenue and profit declined due to fewer single-premium product sales and lower investment income, partially offset by improved first-year premium sales.
Quarterly results improve as mortgage segment turns profitable
US funeral, insurance and mortgage firm’s Q2 after-tax earnings rose 7.3% year over year, while revenue fell 6.3%.
Net earnings per share for the first half rose to $0.60 from a year earlier.
