First Horizon Q1 Adj $0.35 Beats $0.34 Estimate, Sales $819.00M Beat $809.19M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Horizon (NYSE:FHN) reported Q1 earnings of $0.35 per share, surpassing the consensus estimate of $0.34, and sales of $819.00M, beating estimates of $809.19M. However, this represents a 22.22% decrease in earnings and a 4.66% decrease in sales from the same period last year.
April 17, 2024 | 10:33 am
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First Horizon reported higher than expected Q1 earnings and sales, with a slight year-over-year decline in both metrics.
Beating earnings and sales estimates typically has a positive short-term impact on a company's stock price, as it indicates better-than-expected financial health and operational performance. However, the year-over-year decline in both earnings and sales might temper investor enthusiasm, suggesting a cautious optimism in the short term.
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