First Horizon (FHN) Reports Earnings Tomorrow: What To Expect
Regional banking company First Horizon (NYSE:FHN) will be reporting earnings this Wednesday morning. Here’s what to expect.
First Horizon missed analysts’ revenue expectations last quarter, reporting revenues of $865 million, up 6.1% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is First Horizon a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting First Horizon’s revenue to grow 5.6% year on year, improving from the 1.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. First Horizon has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at First Horizon’s peers in the banks segment, only FB Financial has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 27.5%.
Read our full analysis of FB Financial’s earnings results here.There has been positive sentiment among investors in the banks segment, with share prices up 4.2% on average over the last month. First Horizon is up 4.4% during the same time and is heading into earnings with an average analyst price target of $28.03 (compared to the current share price of $25.82).
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