First Horizon National Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component First Horizon National (NYSE:FHN) will unveil its latest earnings tomorrow, Friday, January 18, 2013. First Horizon National, through its banking-related subsidiaries, provides financial services.

First Horizon National Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 17 cents per share, a rise of 30.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 20 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 18 cents during the last month. For the year, analysts are projecting a loss of 11 cents per share, a swing from profit of 47 cents last year.

Past Earnings Performance: Last quarter, the company fell short of estimates by 0 cents, coming in at net income of 17 cents per share against a mean estimate of profit of 18 cents. The company fell in line with expectations in the second quarter.

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A Look Back: In the third quarter, profit fell 28.5% to $25.8 million (10 cents a share) from $36.1 million (14 cents a share) the year earlier, missing analyst expectations. Revenue fell 15.2% to $364.1 million from $429.2 million.

Here’s how First Horizon National traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:


Stock Price Performance: Between November 14, 2012 and January 14, 2013, the stock price had risen 81 cents (8.9%), from $9.15 to $9.96. The stock price saw one of its best stretches over the last year between August 31, 2012 and September 14, 2012, when shares rose for 10 straight days, increasing 14.2% (+$1.27) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 7.2% (-65 cents) over that span.

Wall St. Revenue Expectations: On average, analysts predict $338.8 million in revenue this quarter, a decline of 5.9% from the year-ago quarter. Analysts are forecasting total revenue of $1.38 billion for the year, a decline of 7.4% from last year’s revenue of $1.49 billion.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 8.7% in the fourth quarter of the last fiscal year, 0.3% in first quarter and 9.1% in the second quarter and then fell again in the third quarter.

Analyst Ratings: There are mostly holds on the stock with 10 of 19 analysts surveyed giving that rating.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)