First Horizon Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/17 10:15

First Horizon (NYSE:FHN) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$793.0m (up 19% from 3Q 2023).
  • Net income: US$213.0m (up 65% from 3Q 2023).
  • Profit margin: 27% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue.
  • EPS: US$0.40 (up from US$0.23 in 3Q 2023).
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NYSE:FHN Earnings and Revenue Growth October 17th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

First Horizon Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.5%.

Looking ahead, revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 9.3% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of First Horizon's balance sheet and an in-depth analysis of the company's financial position.