First Horizon (NYSE:FHN) shares closed with around 2% gain yesterday after the regional bank reported second-quarter earnings that exceeded analyst expectations, signaling improving financial momentum.
The firm posted adjusted earnings per share of $0.45, topping the consensus estimate of $0.42. Net income available to common shareholders rose to $229 million on an adjusted basis, up from $217 million in the first quarter.
Revenue for the quarter came in at $830 million, just shy of the $831.93 million analyst forecast. Still, the modest revenue miss did little to dampen investor enthusiasm, as the company delivered sequential earnings growth and stronger bottom-line performance.
The results highlight First Horizon’s ability to navigate a challenging interest rate environment while maintaining profitability.
