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First Horizon (FHN) Reports Q2 Earnings: What Key Metrics Have to Say
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First Horizon National (FHN - Free Report) reported $815 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 21%. EPS of $0.36 for the same period compares to $0.39 a year ago.
The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $819.82 million. With the consensus EPS estimate being $0.37, the EPS surprise was -2.70%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 61.4% compared to the 59.6% average estimate based on five analysts.
Net Interest Margin (FTE): 3.4% compared to the 3.4% average estimate based on five analysts.
Average Balance - Total interest earning assets: $75.24 billion versus the four-analyst average estimate of $74.66 billion.
Net charge-offs to average loans: 0.2% versus the three-analyst average estimate of 0.3%.
Total nonperforming loans and leases: $574 million versus the two-analyst average estimate of $530.13 million.
Net Interest Income: $629 million compared to the $633.67 million average estimate based on five analysts.
Total Non-Interest Income: $186 million versus the five-analyst average estimate of $186.23 million.
Net interest income (FTE): $633 million versus $637.50 million estimated by four analysts on average.
Service charges and fees: $58 million compared to the $56.71 million average estimate based on three analysts.
Fixed income: $40 million versus the three-analyst average estimate of $45.85 million.
Mortgage banking and title: $10 million versus $9.68 million estimated by three analysts on average.
Card and digital banking fees: $20 million compared to the $19.35 million average estimate based on three analysts.
Shares of First Horizon have returned +20.8% over the past month versus the Zacks S&P 500 composite's +4.4% 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 (FHN) Reports Q2 Earnings: What Key Metrics Have to Say
First Horizon National (FHN - Free Report) reported $815 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 21%. EPS of $0.36 for the same period compares to $0.39 a year ago.
The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $819.82 million. With the consensus EPS estimate being $0.37, the EPS surprise was -2.70%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 61.4% compared to the 59.6% average estimate based on five analysts.
- Net Interest Margin (FTE): 3.4% compared to the 3.4% average estimate based on five analysts.
- Average Balance - Total interest earning assets: $75.24 billion versus the four-analyst average estimate of $74.66 billion.
- Net charge-offs to average loans: 0.2% versus the three-analyst average estimate of 0.3%.
- Total nonperforming loans and leases: $574 million versus the two-analyst average estimate of $530.13 million.
- Net Interest Income: $629 million compared to the $633.67 million average estimate based on five analysts.
- Total Non-Interest Income: $186 million versus the five-analyst average estimate of $186.23 million.
- Net interest income (FTE): $633 million versus $637.50 million estimated by four analysts on average.
- Service charges and fees: $58 million compared to the $56.71 million average estimate based on three analysts.
- Fixed income: $40 million versus the three-analyst average estimate of $45.85 million.
- Mortgage banking and title: $10 million versus $9.68 million estimated by three analysts on average.
- Card and digital banking fees: $20 million compared to the $19.35 million average estimate based on three analysts.
View all Key Company Metrics for First Horizon here>>>Shares of First Horizon have returned +20.8% over the past month versus the Zacks S&P 500 composite's +4.4% 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.