First Horizon Stock Earnings Reports

First Horizon started 2026 with broad momentum: Q1 EPS was $0.53 (up $0.11 YoY) and adjusted ROTCE was 15.1% (third straight quarter >15%). Net interest income grew ~6% YoY despite a falling rate environment, outpacing loan growth (~3% YoY). Core C&I lending accelerated with $624M of quarterly growth and strong, broadly distributed pipelines; mortgage‑warehouse balances remain a meaningful but seasonal contributor and management expects a Q2 seasonal uptick. Deposits declined ~$1B quarter‑end (largely brokered); the spot rate on interest‑bearing deposits ended at ~2.27% with a cumulative beta of 69% since Sept 2024. Fee income showed normal seasonality; adjusted pre‑provision net revenue improved ~8% YoY. Credit performance remains stable: net charge‑offs 18 bps, ACL-to-loans 1.28%, $15M provision. Capital: CET1 ended Q1 at 10.53% (management updated near‑term CET1 target to 10.5%), ~$230M of buybacks executed in the quarter with ~$765M remaining authorization, and $400M of Series H preferred issued (raising Tier 1). Expense guidance is flat year‑over‑year (with quarter‑to‑quarter variability from marketing and tech timing). Full‑year revenue guide: +3% to +7% (driven by a mix of NII, fee/countercyclical businesses; mortgage refi not assumed). Management reiterated disciplined underwriting, continued opportunistic buybacks, and focus on the $100M+ incremental PPNR opportunity driven by deeper cross‑sell, CRE repricing and specialty partnerships. They remain opportunistic on M&A but unchanged in stance.