Equity Profile

FHN

First Horizon Corporation

FinancialsRegional Banks$12.3B

Jul15Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

First Horizon Corporation is a regional bank that provides a range of financial services, including commercial banking, retail banking, and wealth management. With a market cap of $12 billion, it plays a significant role in the financial sector, particularly in the southeastern United States, where it serves both individual and business customers.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and is closely watched by investors.

0.52

Revenue

Revenue growth reflects the bank's ability to attract and retain customers, which is crucial in the competitive banking sector.

880M

Wall Street expectations, options signals, track record, and call prep available with Pro.

FHN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+9.06%

Avg Stock Reaction

-1.22%

Last Quarter Recap

In Q1 2026, First Horizon reported an EPS of $0.53, exceeding expectations by 8.61%. However, the stock experienced a slight decline of 0.33% the following day.

Management Promises & Guidance

Focus on improving customer service and digital banking capabilities.
Commitment to maintaining strong credit quality.
Plans to expand lending in key markets.

Expectations

Wall Street Expectations

Analysts expect First Horizon to report solid earnings, with a consensus EPS of $0.52. Investors are particularly focused on revenue growth and any updates on strategic initiatives.

Bull Case

If First Horizon beats EPS expectations and shows strong revenue growth, it could signal robust demand for its services and lead to a positive stock reaction.

Bear Case

A miss on EPS or revenue could raise concerns about the bank's operational efficiency and market competitiveness, potentially leading to a negative stock reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

0.52

EPS is a key indicator of the company's profitability and is closely watched by investors.

Revenue

880M

Revenue growth reflects the bank's ability to attract and retain customers, which is crucial in the competitive banking sector.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $0.52?

A strong EPS could indicate effective cost management and revenue generation, which are critical for investor confidence.

What is the outlook for revenue growth compared to the consensus of $880 million?

Revenue growth is essential for assessing the bank's market position and ability to compete effectively.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate First Horizon's ability to capitalize on regional economic growth, which could lead to stronger-than-expected revenue.

Supporting Evidence

Recent economic indicators suggest increased lending activity in the Southeast.

The bank's focus on digital services may attract younger customers, boosting growth.

Options pricing indicates a significant move, suggesting market uncertainty not reflected in consensus estimates.

Key Risk

If revenue growth exceeds $900 million, it could challenge the current consensus outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be closely scrutinized as it reflects the bank's ability to navigate a competitive financial landscape.

Bull Confirmed If

An EPS of $0.55 or higher, along with revenue exceeding $900 million, would confirm the bull case.

Bear Confirmed If

An EPS below $0.49 or revenue falling short of $870 million would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±9.18%

Historical Avg

±3.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±9.2% while FHN has averaged ±3.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

20.8%

Calls (62K)P/C Ratio: 0.24Puts (18K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Horizon beats expectations, history suggests the stock could see a modest uptick, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth.

Miss

A miss on earnings could lead to a decline, with historical patterns indicating an average drop of around 5.79%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on digital banking initiatives and their impact on customer acquisition.
2Insights into loan growth and credit quality trends.
3Management's commentary on competitive pressures in the regional banking sector.
4Details on cost management strategies and their effectiveness.
5Outlook for economic conditions in key markets served by First Horizon.

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Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and is closely watched by investors.

0.52

Revenue

Revenue growth reflects the bank's ability to attract and retain customers, which is crucial in the competitive banking sector.

880M

Wall Street expectations, options signals, track record, and call prep available with Pro.

FHN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+9.06%

Avg Stock Reaction

-1.22%

Last Quarter Recap

In Q1 2026, First Horizon reported an EPS of $0.53, exceeding expectations by 8.61%. However, the stock experienced a slight decline of 0.33% the following day.

Management Promises & Guidance

Focus on improving customer service and digital banking capabilities.
Commitment to maintaining strong credit quality.
Plans to expand lending in key markets.

Expectations

Wall Street Expectations

Analysts expect First Horizon to report solid earnings, with a consensus EPS of $0.52. Investors are particularly focused on revenue growth and any updates on strategic initiatives.

Bull Case

If First Horizon beats EPS expectations and shows strong revenue growth, it could signal robust demand for its services and lead to a positive stock reaction.

Bear Case

A miss on EPS or revenue could raise concerns about the bank's operational efficiency and market competitiveness, potentially leading to a negative stock reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

0.52

EPS is a key indicator of the company's profitability and is closely watched by investors.

Revenue

880M

Revenue growth reflects the bank's ability to attract and retain customers, which is crucial in the competitive banking sector.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $0.52?

A strong EPS could indicate effective cost management and revenue generation, which are critical for investor confidence.

What is the outlook for revenue growth compared to the consensus of $880 million?

Revenue growth is essential for assessing the bank's market position and ability to compete effectively.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate First Horizon's ability to capitalize on regional economic growth, which could lead to stronger-than-expected revenue.

Supporting Evidence

Recent economic indicators suggest increased lending activity in the Southeast.

The bank's focus on digital services may attract younger customers, boosting growth.

Options pricing indicates a significant move, suggesting market uncertainty not reflected in consensus estimates.

Key Risk

If revenue growth exceeds $900 million, it could challenge the current consensus outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will be closely scrutinized as it reflects the bank's ability to navigate a competitive financial landscape.

Bull Confirmed If

An EPS of $0.55 or higher, along with revenue exceeding $900 million, would confirm the bull case.

Bear Confirmed If

An EPS below $0.49 or revenue falling short of $870 million would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±9.18%

Historical Avg

±3.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±9.2% while FHN has averaged ±3.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

20.8%

Calls (62K)P/C Ratio: 0.24Puts (18K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Horizon beats expectations, history suggests the stock could see a modest uptick, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth.

Miss

A miss on earnings could lead to a decline, with historical patterns indicating an average drop of around 5.79%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on digital banking initiatives and their impact on customer acquisition.
2Insights into loan growth and credit quality trends.
3Management's commentary on competitive pressures in the regional banking sector.
4Details on cost management strategies and their effectiveness.
5Outlook for economic conditions in key markets served by First Horizon.