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First Horizon (FHN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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First Horizon National (FHN - Free Report) reported $1.03 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 38.8%. EPS of $0.39 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of +25.70% over the Zacks Consensus Estimate of $820.19 million. With the consensus EPS estimate being $0.38, the EPS surprise was +2.63%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 53.87% versus the three-analyst average estimate of 57.17%.
Net Interest Margin (FTE): 3.38% compared to the 3.62% average estimate based on three analysts.
Average Balance - Total interest earning assets: $75.35 billion versus $72.51 billion estimated by two analysts on average.
Net interest income (FTE): $635 million compared to the $652.47 million average estimate based on three analysts.
Total Non-Interest Income: $400 million versus the three-analyst average estimate of $323.17 million.
Net Interest Income: $631 million versus $646.85 million estimated by two analysts on average.
Shares of First Horizon have returned +8.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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First Horizon (FHN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
First Horizon National (FHN - Free Report) reported $1.03 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 38.8%. EPS of $0.39 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of +25.70% over the Zacks Consensus Estimate of $820.19 million. With the consensus EPS estimate being $0.38, the EPS surprise was +2.63%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 53.87% versus the three-analyst average estimate of 57.17%.
- Net Interest Margin (FTE): 3.38% compared to the 3.62% average estimate based on three analysts.
- Average Balance - Total interest earning assets: $75.35 billion versus $72.51 billion estimated by two analysts on average.
- Net interest income (FTE): $635 million compared to the $652.47 million average estimate based on three analysts.
- Total Non-Interest Income: $400 million versus the three-analyst average estimate of $323.17 million.
- Net Interest Income: $631 million versus $646.85 million estimated by two analysts on average.
View all Key Company Metrics for First Horizon here>>>Shares of First Horizon have returned +8.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.