First Horizon has been challenged over the past year not only by higher deposit costs and weakening loan demand, but also the need to regrow deposits after Toronto-Dominion walked away. Q2 earnings missed expectations by a marginal amount, but the Street didn't like the weaker net interest income guide, as "higher for longer" continues to hit First Horizon's profitability. There are concerns that FHN has been caught by competitors and is underperforming its core markets, but I believe the post-deal rebuild has been masking the true long-term growth potential.
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First Horizon's (FHN) second-quarter earnings lag estimates, given a fall in NII and non-interest income alongside higher provisions. Nevertheless, lower expenses and a rise in loans remain positives.
Start Time: 09:30 January 1, 0000 10:27 AM ET First Horizon Corporation (NYSE:FHN ) Q2 2024 Earnings Conference Call July 17, 2024, 09:30 AM ET Company Participants Bryan Jordan - Chairman, President and CEO Hope Dmuchowski - CFO Susan Springfield - Chief Credit Officer Thomas Hung - Deputy Chief Credit Officer Natalie Flanders - Head, IR Conference Call Participants Jon Arfstrom - RBC Capital Markets Michael Rose - Raymond James Anthony Elian - JPMorgan Ebrahim Poonawala - Bank of America Chris McGratty - KBW Casey Haire - Jefferies Ben Gerlinger - Citigroup Samuel Varga - UBS Christopher Marinac - Janney Montgomery Scott John Rauh - Barclays Operator Good afternoon all. Thank you for joining us for the First Horizon Second Quarter 2024 Earnings Conference Call.
Shares of First Horizon Corp. (FHN) slipped in intraday trading Wednesday after the regional bank reported second-quarter results lower than analysts expected as lower net interest income (NII) hit its profits.
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While the top- and bottom-line numbers for First Horizon (FHN) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
First Horizon National (FHN) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.39 per share a year ago.
First Horizon (FHN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Get a deeper insight into the potential performance of First Horizon (FHN) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
First Horizon (FHN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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