FHN First Horizon Corporation

$FHN: First Horizon beats by $0.01; lowers FY26 adjusted revenue growth outlook, maintains flat expense guidance.

$FHN Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $0.53 up 3.92% YoY • Reported revenue of $883M down -1.12% YoY

$FHN First Horizon printed a GAAP loss for Q3, 20 cents a share. Adjusted EPS was 53 cents, a penny ahead of consensus, with adjusted ROTCE at 14.4%. The gap is one decision. Notable items were 73 cents a share, 347 million dollars post-tax, mostly from reclassifying loans tied to selling about 4.5 billion dollars of low-yielding consumer mortgages. The sale was agreed in early October and settles early next quarter. Underneath that, adjusted pre-provision net revenue was 362 million dollars, up 3% from a year ago, and average client deposits grew 1.3 billion dollars in the quarter.

$FHN (First Horizon, Memphis regional bank, $84.3B assets) posted a Q3 2026 net loss of $(94)M, $(0.20)/sh, on a $347M after-tax charge tied mainly to moving ~$4.5B of lower-yielding consumer mortgages to held for sale for a sale agreed in early October. The hit is ~3% of the ~$10.74B market value at $22.67 (16:00 ET, Oct 14, 2026); the loans are ~5% of assets. Ex-items, Q3 adjusted EPS was $0.53; FHN says the sale will be accretive to earnings going forward and free room for loan growth. Settlement expected early in Q4.