First Horizon Q3 Adj EPS $0.27 Beats $0.25 Estimate, Sales $778.00M Miss $801.16M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Horizon (NYSE:FHN) reported Q3 adjusted earnings of $0.27 per share, beating the analyst consensus estimate of $0.25 by 8%. However, this is a 38.64% decrease from the same period last year. The company's quarterly sales were $778.00 million, missing the analyst consensus estimate of $801.16 million by 2.89%, and marking an 11.09% decrease from the same period last year.
October 18, 2023 | 10:44 am
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NEGATIVE IMPACT
First Horizon's Q3 earnings beat estimates but were significantly lower than last year. Sales also missed estimates and were down YoY.
First Horizon's earnings beat estimates, which is positive. However, the significant YoY decrease in earnings and sales, as well as the missed sales estimates, are negative indicators that could impact the stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100