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FHN's Q3 2024 earnings benefit from a rise in NII and fee income, alongside deposit growth. Yet, rising costs and declining loan balances remain concerns.

First Horizon Corporation (NYSE:FHN ) Q3 2024 Earnings Conference Call October 16, 2024 9:30 AM ET Company Participants Natalie Flanders - Head, Investor Relations Bryan Jordan - Chairman, President and Chief Executive Officer Hope Dmuchowski - Chief Financial Officer Thomas Hung - Deputy Chief Credit Officer Conference Call Participants Ebrahim Poonawala - Bank of America Michael Rose - Raymond James Jon Arfstrom - RBC Capital Jared Shaw - Barclays Capital Samuel Varga - UBS Chris McGratty - KBW Timur Braziler - Wells Fargo Christopher Marinac - J. Montgomery Scott Operator Good morning all and thank you for joining us for the First Horizon Third Quarter 2024 Earnings Conference Call.

Although the revenue and EPS for First Horizon (FHN) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

First Horizon National (FHN) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.27 per share a year ago.

3Q24  ROTCE of 12.6% and Adjusted ROTCE of 13.2% with Tangible Book Value per Share of $13.02,  up $0.81 QoQ* MEMPHIS, Tenn. , Oct. 16, 2024 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today reported third quarter net income available to common ("NIAC") shareholders of $213 million or earnings per share of $0.40, compared with second quarter 2024 net income available to common of $184 million or earnings per share of $0.34.

Besides Wall Street's top -and-bottom-line estimates for First Horizon (FHN), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.

First Horizon's stock surged 53.6% in the past year, but recent financial metrics show declining deposits, increased debt, and lower revenue and profits. The bank's uninsured deposit exposure is now 41%, significantly above the preferred 30% threshold, raising concerns about its financial stability. Despite some positive trends like rising loans and cash equivalents, the overall balance sheet and income statement reveal weakening fundamentals.

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.

MEMPHIS, Tenn. , Oct. 7, 2024 /PRNewswire/ -- The North Carolina Courage recently announced a multiyear partnership affirming First Horizon Bank (NYSE: FHN) as the Official Bank of the Courage in a joint venture to support women's sports.

Arena to be Named First Horizon Coliseum MEMPHIS, Tenn. , Oct. 7, 2024 /PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon"), in a landmark partnership agreement with the City of Greensboro and Oak View Group, managers and operators of the Greensboro Coliseum Complex, will become the first naming rights partner at the 65-year-old complex, renaming the venue the First Horizon Coliseum.