Equity Profile

FHN

First Horizon Corporation

FinancialsRegional Banks$11.5B

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 $11 billion, it plays a significant role in the financial sector, particularly in the Southeast U.S., where it serves both individual and business clients.

Key Metrics to Watch

Earnings Per Share (EPS)

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

Expected to be around $0.53.

Net Interest Margin

This metric shows how effectively the bank is earning from its interest-earning assets, crucial for assessing financial health.

Not available.

1 more metrics, 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, surpassing estimates by 8.61%. However, the stock saw 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 activities in key markets.

Expectations

Wall Street Expectations

Investors are cautiously optimistic about First Horizon's upcoming earnings, given its recent history of beating EPS estimates. However, concerns about economic conditions and interest rates may temper enthusiasm.

Bull Case

If the company continues its trend of beating EPS estimates, it could signal strong operational performance and confidence in future growth, leading to a positive stock reaction.

Bear Case

On the other hand, if economic conditions worsen or loan growth slows, it could lead to disappointing results, negatively impacting the stock.

Key Metrics to Watch

Earnings Per Share (EPS)

Expected to be around $0.53.

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

Net Interest Margin

Not available.

This metric shows how effectively the bank is earning from its interest-earning assets, crucial for assessing financial health.

Loan Growth

Not available.

Loan growth indicates demand for credit and can signal economic health, impacting revenue.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be this quarter, and how does it compare to previous quarters?

Given the company's strong track record of beating EPS estimates, this will be a key focus for investors looking for continued growth.

How is First Horizon managing its loan growth in the current economic environment?

Loan growth is critical for revenue generation, and any slowdown could raise concerns about future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for First Horizon to outperform due to its strong loan portfolio and effective management strategies.

Supporting Evidence

The company has consistently beaten EPS estimates, indicating strong operational execution.

Options pricing suggests a higher expected move than historical averages, which may reflect investor uncertainty rather than actual performance.

Recent economic indicators show resilience in the Southeast U.S. market, where First Horizon operates.

Key Risk

If loan growth exceeds expectations, it could significantly alter the market's perception of the company's future profitability.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether First Horizon can sustain its recent earnings momentum amid economic pressures.

Bull Confirmed If

An EPS of $0.55 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.50 would support the bear case, suggesting potential issues with profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±9.18%

Historical Avg

±3.2%

Pricing rich

The options market is pricing in a significant move around the earnings report, suggesting that investors are anticipating volatility.

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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

This setup has occurred 30 times across Financials in the last 2 years. 12 of 25 faded and 13 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.4%, with a raw directional average of -0.0% (roughly flat historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Horizon beats expectations, history suggests a modest positive reaction, potentially confirming the company's strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may remain stable, but cautious commentary could lead to a muted response.

Miss

A miss could lead to a significant decline, as historical data shows an average drop of around 5.79% following earnings misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality.
2Management's outlook on interest rates and their impact on net interest margin.
3Details on customer acquisition and retention strategies.
4Insights into regional economic conditions affecting the bank's performance.
5Any commentary on digital banking initiatives and their success.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Fastenal Company

Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

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

Expected to be around $0.53.

Net Interest Margin

This metric shows how effectively the bank is earning from its interest-earning assets, crucial for assessing financial health.

Not available.

1 more metrics, 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, surpassing estimates by 8.61%. However, the stock saw 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 activities in key markets.

Expectations

Wall Street Expectations

Bull Case

If the company continues its trend of beating EPS estimates, it could signal strong operational performance and confidence in future growth, leading to a positive stock reaction.

Bear Case

On the other hand, if economic conditions worsen or loan growth slows, it could lead to disappointing results, negatively impacting the stock.

Key Metrics to Watch

Earnings Per Share (EPS)

Expected to be around $0.53.

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

Net Interest Margin

Not available.

This metric shows how effectively the bank is earning from its interest-earning assets, crucial for assessing financial health.

Loan Growth

Not available.

Loan growth indicates demand for credit and can signal economic health, impacting revenue.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be this quarter, and how does it compare to previous quarters?

Given the company's strong track record of beating EPS estimates, this will be a key focus for investors looking for continued growth.

How is First Horizon managing its loan growth in the current economic environment?

Loan growth is critical for revenue generation, and any slowdown could raise concerns about future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for First Horizon to outperform due to its strong loan portfolio and effective management strategies.

Supporting Evidence

The company has consistently beaten EPS estimates, indicating strong operational execution.

Options pricing suggests a higher expected move than historical averages, which may reflect investor uncertainty rather than actual performance.

Recent economic indicators show resilience in the Southeast U.S. market, where First Horizon operates.

Key Risk

If loan growth exceeds expectations, it could significantly alter the market's perception of the company's future profitability.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around whether First Horizon can sustain its recent earnings momentum amid economic pressures.

Bull Confirmed If

An EPS of $0.55 or higher would confirm the bull case, indicating strong operational performance.

Bear Confirmed If

An EPS below $0.50 would support the bear case, suggesting potential issues with profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±9.18%

Historical Avg

±3.2%

Pricing rich

The options market is pricing in a significant move around the earnings report, suggesting that investors are anticipating volatility.

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)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 12 of 25 (48%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If First Horizon beats expectations, history suggests a modest positive reaction, potentially confirming the company's strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may remain stable, but cautious commentary could lead to a muted response.

Miss

A miss could lead to a significant decline, as historical data shows an average drop of around 5.79% following earnings misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and credit quality.
2Management's outlook on interest rates and their impact on net interest margin.
3Details on customer acquisition and retention strategies.
4Insights into regional economic conditions affecting the bank's performance.
5Any commentary on digital banking initiatives and their success.