Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
First Horizon (FHN)
NYSE:FHN
Holding FHN?
Track your performance easily
Earnings Data
Report Date
Jan 16, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.39Last Year’s EPS
$0.31Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 16, 2024
|% Change Since: 20.21%
|Next Earnings Date:Jan 16, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a positive quarter with strong revenue growth, effective capital deployment, and solid credit performance. However, challenges in margin compression, loan growth, and elevated deposit costs present areas of concern.Company Guidance
During the First Horizon Third Quarter 2024 Earnings Conference Call, the executives provided a comprehensive financial overview, highlighting several key metrics. The company reported an adjusted EPS of $0.42, a $0.06 increase from the prior quarter, with pre-provision net revenue increasing by $11 million. Their adjusted return on tangible common equity improved to 13.2%, and they ended the quarter with a common equity Tier 1 ratio of 11.2%. The call also noted net charge-offs of $24 million or 15 basis points, while adjusted net interest income remained stable at $631 million, despite a 7 basis point compression in net interest margin to 3.31%. Additionally, First Horizon repurchased $75 million of stock in the third quarter, contributing to over $440 million year-to-date. Looking ahead, the company anticipates total revenue to be flat to up 2% year-over-year, contingent on future Federal Reserve actions.Strong Revenue Growth and EPS Increase
Achieved an adjusted EPS of $0.42 per share, reflecting a $0.06 increase from the prior quarter. Pre-provision net revenue increased by $11 million, improving the adjusted return on tangible common equity to 13.2%.
Effective Capital Deployment
Deployed capital through share repurchases, buying back $75 million of stock in the third quarter and over $440 million year-to-date. Ended the quarter with a common equity Tier 1 ratio of 11.2%.
Solid Credit Performance
Net charge-offs were $24 million or 15 basis points of average loans, demonstrating disciplined credit culture and strong portfolio management.
Growth in Customer Deposits
Period-end balances increased by 3%, with client positions driving almost $1 billion of growth. Noninterest-bearing balances remained relatively stable over the last few quarters.
---
FHN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
FHN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 16, 2024 | $16.59 | $17.26 | +4.04% |
| Jul 17, 2024 | $17.15 | $16.16 | -5.77% |
| Apr 17, 2024 | $13.53 | $13.79 | +1.92% |
| Jan 18, 2024 | $12.76 | $13.41 | +5.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does First Horizon (FHN) report earnings?
First Horizon (FHN) is schdueled to report earning on Jan 16, 2025, Before Open Not Confirmed.
What is First Horizon (FHN) earnings time?
First Horizon (FHN) earnings time is at Jan 16, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FHN EPS forecast?
FHN EPS forecast for the fiscal quarter 2024 (Q4) is $0.39.
---