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First Horizon (FHN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, First Horizon National (FHN - Free Report) reported revenue of $800 million, down 9.3% over the same period last year. EPS came in at $0.32, compared to $0.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $784.2 million, representing a surprise of +2.02%. The company delivered an EPS surprise of +3.23%, with the consensus EPS estimate being $0.31.
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: 71.1% compared to the 63.2% average estimate based on five analysts.
Net Interest Margin (FTE): 3.3% compared to the 3.2% average estimate based on five analysts.
Average Balance - Total interest earning assets: $75.45 billion versus $75.46 billion estimated by four analysts on average.
Net charge-offs to average loans: 0.2% compared to the 0.2% average estimate based on three analysts.
Total nonperforming loans and leases: $462 million versus $383.21 million estimated by two analysts on average.
Total Non-Interest Income: $183 million versus the five-analyst average estimate of $175.04 million.
Net interest income (FTE): $621 million versus $610.92 million estimated by five analysts on average.
Net Interest Income: $617 million compared to the $609.45 million average estimate based on four analysts.
Fixed income: $37 million versus the three-analyst average estimate of $31.15 million.
Mortgage banking and title: $5 million versus the three-analyst average estimate of $7 million.
Other noninterest income: $23 million compared to the $23.24 million average estimate based on two analysts.
Card and digital banking fees: $16 million versus the two-analyst average estimate of $20.50 million.
Shares of First Horizon have returned -3.1% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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First Horizon (FHN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, First Horizon National (FHN - Free Report) reported revenue of $800 million, down 9.3% over the same period last year. EPS came in at $0.32, compared to $0.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $784.2 million, representing a surprise of +2.02%. The company delivered an EPS surprise of +3.23%, with the consensus EPS estimate being $0.31.
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: 71.1% compared to the 63.2% average estimate based on five analysts.
- Net Interest Margin (FTE): 3.3% compared to the 3.2% average estimate based on five analysts.
- Average Balance - Total interest earning assets: $75.45 billion versus $75.46 billion estimated by four analysts on average.
- Net charge-offs to average loans: 0.2% compared to the 0.2% average estimate based on three analysts.
- Total nonperforming loans and leases: $462 million versus $383.21 million estimated by two analysts on average.
- Total Non-Interest Income: $183 million versus the five-analyst average estimate of $175.04 million.
- Net interest income (FTE): $621 million versus $610.92 million estimated by five analysts on average.
- Net Interest Income: $617 million compared to the $609.45 million average estimate based on four analysts.
- Fixed income: $37 million versus the three-analyst average estimate of $31.15 million.
- Mortgage banking and title: $5 million versus the three-analyst average estimate of $7 million.
- Other noninterest income: $23 million compared to the $23.24 million average estimate based on two analysts.
- Card and digital banking fees: $16 million versus the two-analyst average estimate of $20.50 million.
View all Key Company Metrics for First Horizon here>>>Shares of First Horizon have returned -3.1% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.