earnings
confidence high
sentiment positive
materiality 0.80
First Horizon Q3 2022 EPS $0.45; total revenue up 18% QoQ; PPNR $406M
FIRST HORIZON CORP
2022-Q3 EPS reported
$1.08
- GAAP diluted EPS $0.45 vs $0.29 in 2Q22; adjusted EPS $0.44 vs $0.34.
- Total revenue $875M GAAP (+18% QoQ); adjusted revenue $846M (+15% QoQ).
- Pre-provision net revenue $406M GAAP (+59% QoQ); adjusted PPNR $403M (+37%).
- Provision for credit losses $60M (vs $30M in 2Q22) driven by loan growth, macro outlook, and Hurricane Ian.
- IBKC merger delivered $184M annualized net cost saves in 3Q22; targeting ~$200M by 4Q22.