First Horizon (FHN) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, First Horizon National (FHN) reported revenue of $778 million, down 11.1% over the same period last year. EPS came in at $0.27, compared to $0.44 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $801.16 million, representing a surprise of -2.89%. The company delivered an EPS surprise of +8.00%, with the consensus EPS estimate being $0.25.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Horizon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 60.9% versus 60.3% estimated by five analysts on average.
Net Interest Margin (FTE): 3.2% versus the five-analyst average estimate of 3.3%.
Average Balance - Total interest earning assets: $76.31 billion versus $76.38 billion estimated by four analysts on average.
Net charge-offs to average loans: 0.6% compared to the 0.5% average estimate based on three analysts.
Total nonperforming loans: $394 million versus the two-analyst average estimate of $366.93 million.
Total Non-Interest Income: $173 million versus the five-analyst average estimate of $175.66 million.
Net interest income (FTE): $609 million versus the five-analyst average estimate of $627.72 million.
Net Interest Income: $605 million compared to the $627.90 million average estimate based on four analysts.
Fixed income: $28 million versus the three-analyst average estimate of $31.16 million.
Mortgage banking and title: $7 million compared to the $6 million average estimate based on three analysts.
Other noninterest income: $25 million versus the two-analyst average estimate of $19.13 million.
Card and digital banking fees: $20 million compared to the $21.50 million average estimate based on two analysts.
View all Key Company Metrics for First Horizon here>>>
Shares of First Horizon have returned -3.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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First Horizon Corporation (FHN) : Free Stock Analysis Report
