earnings
confidence high
sentiment negative
materiality 0.80
First Horizon Q2 2022 EPS $0.29 GAAP, $0.34 adj; NII up 13% QoQ, fee income down
FIRST HORIZON CORP
2022-Q2 EPS reported
$0.63
- GAAP diluted EPS $0.29, adjusted EPS $0.34; net income available to common $166M.
- Net interest income $542M (+13% QoQ); core NII up 15% on loan growth and higher rates.
- Fee income $201M (-12% QoQ); adjusted fee income down 16% on fixed income and deferred comp.
- Provision for credit losses $30M vs $40M benefit in 1Q22; net charge-offs 9 bps remain low.
- IBKC merger achieved $140M annualized net cost saves; TD transaction public meeting set Aug 18, 2022.