First Horizon Corporation Reports Full Year 2024 Net Income Available to Common Shareholders (NIAC) of $738 Million or EPS of $1.36; Adjusted NIAC increased 5% to $843 Million or $1.55, driven by continued exemplary credit performance, increased fee income generation, and strong margin*
First Horizon (NYSE: FHN) reported full year 2024 net income available to common shareholders (NIAC) of $738 million or earnings per share of $1.36, compared to $865 million or $1.54 per share in 2023. The 2024 results included $105 million after-tax of notable items impact.
Fourth quarter 2024 delivered NIAC of $158 million or $0.29 per share, with adjusted figures of $228 million or $0.43 per share, representing a 2% increase from the previous quarter. The company demonstrated strong performance with expanded net interest margin, 6% growth in fixed income revenue, and improved credit metrics with net charge-offs at 8 basis points.
First Horizon (NYSE: FHN) ha riportato un utile netto disponibile per gli azionisti comuni (NIAC) di 738 milioni di dollari per l'intero anno 2024, pari a un utile per azione di 1,36 dollari, rispetto a 865 milioni di dollari o 1,54 dollari per azione nel 2023. I risultati del 2024 hanno incluso un impatto di elementi significativi dopo le tasse di 105 milioni di dollari.
Il quarto trimestre del 2024 ha registrato NIAC di 158 milioni di dollari o 0,29 dollari per azione, con figure rettificate di 228 milioni di dollari o 0,43 dollari per azione, rappresentando un aumento del 2% rispetto al trimestre precedente. L'azienda ha dimostrato una forte performance con un margine d'interesse netto ampliato, una crescita del 6% nei ricavi da reddito fisso e metriche di credito migliorate con perdite nette su prestiti di 8 punti base.
First Horizon (NYSE: FHN) reportó un ingreso neto disponible para accionistas comunes (NIAC) de 738 millones de dólares para todo el año 2024, o ganancias por acción de 1.36 dólares, en comparación con 865 millones de dólares o 1.54 dólares por acción en 2023. Los resultados de 2024 incluyeron un impacto de elementos notables después de impuestos de 105 millones de dólares.
El cuarto trimestre de 2024 entregó NIAC de 158 millones de dólares o 0.29 dólares por acción, con cifras ajustadas de 228 millones de dólares o 0.43 dólares por acción, lo que representa un aumento del 2% con respecto al trimestre anterior. La empresa demostró un sólido rendimiento con un margen de interés neto expandido, un crecimiento del 6% en los ingresos de renta fija y métricas de crédito mejoradas con cargos netos de 8 puntos básicos.
퍼스트 호라이즌 (NYSE: FHN)은 2024 전체 연도 동안 보통 주주를 위한 순이익(NIAC)이 7억 3천8백만 달러에 달하며, 주당 순이익은 1.36 달러로, 2023년의 8억 6천5백만 달러 또는 주당 1.54 달러와 비교됩니다. 2024년 결과에는 세후 1억 5백만 달러의 주목할 만한 항목의 영향이 포함되었습니다.
2024년 4분기에는 NIAC 1억 5천8백만 달러 또는 주당 0.29 달러를 기록하였으며, 조정 후 수치는 2억 2천8백만 달러 또는 주당 0.43 달러로, 이전 분기 대비 2% 증가를 나타냅니다. 회사는 확대된 순이자 마진, 고정 수익 부문에서 6% 성장 및 8 베이시스 포인트의 순 손실로 개선된 신용 메트릭스를 통해 강력한 성과를 보여주었습니다.
First Horizon (NYSE: FHN) a annoncé un résultat net disponible pour les actionnaires ordinaires (NIAC) de 738 millions de dollars pour l'année complète 2024, soit un bénéfice par action de 1,36 dollar, par rapport à 865 millions de dollars ou 1,54 dollar par action en 2023. Les résultats de 2024 incluaient un impact de 105 millions de dollars après impôt d'éléments notables.
Le quatrième trimestre 2024 a délivré un NIAC de 158 millions de dollars ou 0,29 dollar par action, avec des chiffres ajustés de 228 millions de dollars ou 0,43 dollar par action, représentant une augmentation de 2 % par rapport au trimestre précédent. L'entreprise a démontré une forte performance avec un élargissement de la marge d'intérêt nette, une croissance de 6 % des revenus fixes et des indicateurs de crédit améliorés avec des annulations nettes à 8 points de base.
First Horizon (NYSE: FHN) berichtete für das gesamte Jahr 2024 von einem netto verfügbaren Einkommen für Stammaktionäre (NIAC) in Höhe von 738 Millionen US-Dollar oder einem Gewinn pro Aktie von 1,36 US-Dollar, verglichen mit 865 Millionen US-Dollar oder 1,54 US-Dollar pro Aktie im Jahr 2023. Die Ergebnisse für 2024 beinhalteten einen steuerlichen Einfluss von 105 Millionen US-Dollar aus bemerkenswerten Posten.
Im vierten Quartal 2024 erzielte das Unternehmen NIAC von 158 Millionen US-Dollar oder 0,29 US-Dollar pro Aktie, mit bereinigten Zahlen von 228 Millionen US-Dollar oder 0,43 US-Dollar pro Aktie, was einen Anstieg von 2% im Vergleich zum vorherigen Quartal darstellt. Das Unternehmen zeigte eine starke Leistung mit einem erhöhten Nettozinsspanne, einem Wachstum von 6% im Bereich der festverzinslichen Einnahmen und verbesserten Kreditkennzahlen mit Nettoschäden von 8 Basispunkten.
- Adjusted NIAC increased 5% to $843 million ($1.55 per share)
- Q4 adjusted earnings grew 2% quarter-over-quarter
- Net interest margin expanded by 2 basis points in Q4
- Fixed income revenue increased 6% in Q4
- Net charge-offs improved to 8 basis points
- Full year NIAC declined from $865M in 2023 to $738M in 2024
- EPS decreased from $1.54 in 2023 to $1.36 in 2024
- $105M after-tax impact from notable items versus $59M benefit in 2023
Insights
The Q4 and full-year 2024 results demonstrate First Horizon's resilience in a challenging rate environment. The
Key performance indicators are encouraging: The Q4 sequential net interest margin expansion of
The counter-cyclical revenue improvement is particularly noteworthy, suggesting successful diversification of income streams. For investors, the
The regional banking sector context makes these results particularly meaningful. First Horizon's performance metrics indicate strong competitive positioning within the industry. The
The bank's strategic focus on fee income generation has proved effective, providing a valuable hedge against interest rate volatility. Market sentiment should respond positively to the improved margin trajectory and revenue diversification. Looking ahead to 2025, the positive momentum in core business metrics positions FHN well against regional banking peers.
Fourth Quarter 2024 Net Income Available to Common Shareholders of
"Our fourth quarter and full-year 2024 results reflect focused execution of our strategic priorities," said Chairman, President and Chief Executive Officer Bryan Jordan. "Strong client relationships and our attractive business mix positioned us to deliver earnings through a complex interest rate cycle. We successfully grew the business in 2024, driven by a strong net interest margin, improved counter-cyclical revenues, and declining net charge-offs. In the fourth quarter 2024, we delivered solid results with a two basis point expansion of net interest margin, a
"I continue to be inspired by our team's dedication to creating value for our shareholders, clients, and communities and remain confident in our ability to continue to deliver profitable growth in 2025,"
Conference Call Information
Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on January 16, 2025 by dialing 1-833-470-1428 (if calling from the
Participants can also opt to listen to the live audio webcast at https://ir.firsthorizon.com/events-and-presentations/default.aspx.
A replay of the call will be available beginning at noon CT on January 16 until midnight CT on January 30, 2025. To listen to the replay, dial 1-866-813-9403 (
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward," and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN's control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN's actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in this document; in Items 2.02 and 7.01 of FHN's Current Report on Form 8-K filed with the Securities and Exchange Commission on the date of this release; in the forepart, and in Items 1, 1A, and 7, of FHN's most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN's Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Actual results could differ and expectations could change, possibly materially, because of one or more factors, including those factors listed in this document or the documents mentioned above, and other factors not listed.
Throughout this document, numbers may not foot due to rounding, references to EPS are fully diluted, and capital ratios for the most recent quarter are estimates.
Use of non-GAAP Measures and Regulatory Measures that are not GAAP
Certain measures included in this report are "non-GAAP," meaning they are not presented in accordance with generally accepted accounting principles in the
The non-GAAP measures presented in this earnings release are fully taxable equivalent measures, pre-provision net revenue ("PPNR"), return on average tangible common equity ("ROTCE"), tangible common equity ("TCE") to tangible assets ("TA"), tangible book value ("TBV") per common share, and various consolidated and segment results and performance measures and ratios adjusted for notable items.
Presentation of regulatory measures, even those which are not GAAP, provide a meaningful base for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered "non-GAAP" under
Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items, beginning on page 22 of FHN's complete 4Q24 earnings release available at https://ir.firsthorizon.com.
First Horizon Corp. (NYSE: FHN), with
*References to "Adjusted" results exclude notable items and, along with ROTCE and certain other financial measures, are non-GAAP Financial Measures. All references to loans include leases. All references to earnings per share are based on diluted shares. Please see page 6 for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 22 of FHN's complete 4Q24 earnings release available at https://ir.firsthorizon.com.
Contact: | Investor Relations – Tyler Craft - TCraft@firsthorizon.com |
Media Relations – Beth Ardoin - Beth.Ardoin@firsthorizon.com |
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SOURCE First Horizon Corporation
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