First Horizon (FHN) Reports Q1 Earnings: What Key Metrics Have to Say

First Horizon National (FHN) reported $819 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.7%. EPS of $0.35 for the same period compares to $0.46 a year ago.

The reported revenue represents a surprise of +1.37% over the Zacks Consensus Estimate of $807.94 million. With the consensus EPS estimate being $0.34, the EPS surprise was +2.94%.

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: 62.9% versus the five-analyst average estimate of 60.8%.

• Net Interest Margin (FTE): 3.4% versus the five-analyst average estimate of 3.3%.

• Average Balance - Total interest earning assets: $75.47 billion versus $75.18 billion estimated by four analysts on average.

• Net charge-offs to average loans: 0.3% compared to the 0.3% average estimate based on three analysts.

• Total nonperforming loans and leases: $505 million versus $480.05 million estimated by two analysts on average.

• Total Non-Interest Income: $194 million versus the five-analyst average estimate of $182.18 million.

• Net Interest Income: $625 million versus the five-analyst average estimate of $623.01 million.

• Net interest income (FTE): $628 million versus the four-analyst average estimate of $627.80 million.

• Mortgage banking and title: $9 million compared to the $5.92 million average estimate based on three analysts.

• Brokerage, trust, and insurance: $36 million versus the three-analyst average estimate of $36.36 million.

• Service charges and fees: $57 million versus $58.94 million estimated by three analysts on average.

• Fixed income: $52 million versus $42.54 million estimated by three analysts on average.

View all Key Company Metrics for First Horizon here>>>

Shares of First Horizon have returned -6.9% over the past month versus the Zacks S&P 500 composite's -1.1% 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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