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 and consumer banking. 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 profitability, and investors will be looking for continued growth.

N/A

Loan Growth

Loan growth reflects demand for credit and can indicate the health of the economy and the bank's ability to generate income.

N/A

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, exceeding expectations by 8.61%. Despite this positive surprise, the stock experienced a slight decline the following day.

Management Promises & Guidance

Focus on improving loan growth and net interest margin.
Commitment to enhancing customer service and digital banking capabilities.
Plans for strategic investments to expand market presence.

Expectations

Wall Street Expectations

Overall, expectations for First Horizon's upcoming earnings are mixed, with investors hoping for continued EPS growth but cautious about potential economic headwinds.

Bull Case

If the bank reports strong loan growth and maintains a healthy net interest margin, it could signal robust demand and profitability, leading to a positive stock reaction.

Bear Case

Conversely, if the bank shows signs of slowing loan growth or a declining net interest margin, it may raise concerns about its ability to sustain profitability, resulting in a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the reported loan growth rate be?

Loan growth is critical for assessing the bank's future revenue potential, and any significant deviation from expectations could impact investor sentiment.

How will the net interest margin trend in this quarter?

The net interest margin is a key profitability metric, and any decline could raise concerns about the bank's ability to manage its interest income effectively.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for loan growth in a recovering economy, which could lead to stronger-than-expected earnings.

Supporting Evidence

Recent economic indicators suggest increased consumer spending, which could drive loan demand.

The options market is pricing in a larger move than historical averages, indicating potential for a surprise.

First Horizon's recent investments in technology may enhance its competitive position, leading to better loan growth.

Key Risk

If loan growth exceeds 5%, it could challenge the current cautious sentiment and lead to a positive reassessment of the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the bank's ability to grow loans and manage its interest margin effectively, which are crucial for profitability.

Bull Confirmed If

Loan growth of 5% or higher, with net interest margin remaining stable or improving.

Bear Confirmed If

Loan growth below 2% or a significant drop in net interest margin.

Pre-Earnings Positioning

Options Market

Implied Move

±9.18%

Historical Avg

±3.2%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders 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 may see a modest positive reaction, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may react neutrally as investors digest the information.

Miss

A miss on earnings could lead to a significant decline, with history indicating an average drop of around 5.79% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and demand trends in the current economic environment.
2Management's commentary on net interest margin and strategies to enhance profitability.
3Insights into customer acquisition and retention efforts, especially in digital banking.
4Updates on any strategic initiatives or investments that may impact future growth.
5Any commentary on competitive pressures and how the bank plans to address them.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability, and investors will be looking for continued growth.

N/A

Loan Growth

Loan growth reflects demand for credit and can indicate the health of the economy and the bank's ability to generate income.

N/A

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, exceeding expectations by 8.61%. Despite this positive surprise, the stock experienced a slight decline the following day.

Management Promises & Guidance

Focus on improving loan growth and net interest margin.
Commitment to enhancing customer service and digital banking capabilities.
Plans for strategic investments to expand market presence.

Expectations

Wall Street Expectations

Overall, expectations for First Horizon's upcoming earnings are mixed, with investors hoping for continued EPS growth but cautious about potential economic headwinds.

Bull Case

If the bank reports strong loan growth and maintains a healthy net interest margin, it could signal robust demand and profitability, leading to a positive stock reaction.

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the reported loan growth rate be?

Loan growth is critical for assessing the bank's future revenue potential, and any significant deviation from expectations could impact investor sentiment.

How will the net interest margin trend in this quarter?

The net interest margin is a key profitability metric, and any decline could raise concerns about the bank's ability to manage its interest income effectively.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the potential for loan growth in a recovering economy, which could lead to stronger-than-expected earnings.

Supporting Evidence

Recent economic indicators suggest increased consumer spending, which could drive loan demand.

The options market is pricing in a larger move than historical averages, indicating potential for a surprise.

First Horizon's recent investments in technology may enhance its competitive position, leading to better loan growth.

Key Risk

If loan growth exceeds 5%, it could challenge the current cautious sentiment and lead to a positive reassessment of the stock.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the bank's ability to grow loans and manage its interest margin effectively, which are crucial for profitability.

Bull Confirmed If

Loan growth of 5% or higher, with net interest margin remaining stable or improving.

Bear Confirmed If

Loan growth below 2% or a significant drop in net interest margin.

Pre-Earnings Positioning

Options Market

Implied Move

±9.18%

Historical Avg

±3.2%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders 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 may see a modest positive reaction, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations but management provides cautious commentary, the stock may react neutrally as investors digest the information.

Miss

A miss on earnings could lead to a significant decline, with history indicating an average drop of around 5.79% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth and demand trends in the current economic environment.
2Management's commentary on net interest margin and strategies to enhance profitability.
3Insights into customer acquisition and retention efforts, especially in digital banking.
4Updates on any strategic initiatives or investments that may impact future growth.
5Any commentary on competitive pressures and how the bank plans to address them.