Overview
First Horizon reports Q3 adjusted EPS of $0.51, beats analyst expectations, per LSEG data
Adjusted net income for Q3 was $263 mln, surpassing analyst estimates
Net income available to common shareholders rose to $254 mln in Q3
Result Drivers
STRATEGIC EXECUTION - CEO Bryan Jordan attributes strong Q3 results to disciplined execution of strategy and expertise of associates
CREDIT QUALITY - Co cites strong credit quality driven by prudent risk management as a strength in Q3
TECHNOLOGY AND PARTNERSHIPS - Continued investments in technology and community partnerships support solid performance and long-term growth
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 ADJUSTED EPS
Beat
$0.51
$0.44 (18 Analysts)
Q3 EPS
$0.50
Q3 ADJUSTED NET INCOME
Beat
$263 mln
$226.26 mln (14 Analysts)
Q3 Net Income
$254 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for First Horizon Corp is $25.00, about 7.9% above its October 14 closing price of $23.02
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nPn1CVwmDa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)