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First Horizon Corporation's Q3 Results and Strategic Moves

On October 15, 2026, First Horizon Corporation (NYSE: FHN) reported its financial outcomes for the third quarter, revealing a net loss available to common shareholders of $94 million. This translates to a loss per share of $0.20. Such results underscore the company's strategic endeavors aimed at aligning its balance sheet with its growth ambitions. During this quarter, First Horizon initiated efforts to sell approximately $4.5 billion in select low-yielding consumer mortgages and executed an agreement towards this goal earlier in October. This strategic sale is viewed as beneficial, promising new earnings potential and enhancing balance sheet flexibility to facilitate future loan growth, with settlement expected by the early part of the next quarter.

Excluding notable items, the adjusted earnings per share for Q3 2026 was reported at $0.53; this figure reflects a decrease of $0.01 compared to Q2 2026, yet shows an improvement of $0.02 from Q3 2025. The reported outcomes include notable items amounting to $0.73 per share, equivalent to $347 million post-tax, primarily due to the reclassification of specific mortgage loans prepared for sale related to the aforementioned mortgage portfolio transaction.

Insights from the CEO

Bryan Jordan, the Chairman, President, and CEO of First Horizon Corporation, highlighted the significance of this quarter's results, stating: “Our disciplined approach and clear strategic priorities are reflected in these results. The average client deposit balances surged by $1.3 billion in this quarter, illustrating our ongoing commitment to nurturing full client relationships and strategically deploying capital for long-term value creation.”

Looking forward, he asserted the company’s dedication to execute its strategies and deliver sustainable growth for its clients, associates, and shareholders.

Conference Call for Stakeholders

To facilitate further discussion about its results, First Horizon will host a conference call on October 15, 2026, starting at 8:30 a.m. CT. Interested participants can join by dialing 1-833-461-5787 if calling within the U.S. and entering access code 391 852 446. For those who prefer, a live audio webcast will be accessible via First Horizon's Investor Relations page. Furthermore, a replay of the webcast will be available on their website following the event and archived for a year.

Future Outlook and Forward-looking Statements

First Horizon Corporation has also issued forward-looking statements as part of their announcement, in accordance with the Private Securities Litigation Reform Act of 1995. These statements present the company's beliefs and expectations regarding their future strategies and operational goals. It is important to note that these statements are based on assessments and assumptions that are subject to various uncertainties, operational risks, and competitive dynamics, some of which may be beyond the company’s control. As they navigate an ever-evolving business landscape, the potential truth of these projections could vary significantly from the anticipated outcomes due to both internal and external factors.

Emphasizing Non-GAAP Measures

In their detailed reports, First Horizon has included several non-GAAP measures that seek to provide a clearer picture of its financial health. These measures offer insights regarding the company's capital position and comprehensive financial results, including metrics such as pre-provision net revenue and tangible common equity ratios. While non-GAAP measures may vary from traditional accounting standards, they are viewed by the management as valuable tools for understanding the company's performance.

Company Profile

Headquartered in Memphis, TN, First Horizon Corporation boasts total assets of $84.3 billion as of September 30, 2026. As a key player in regional financial services, the company is adept at delivering a wide range of financial solutions including commercial banking, consumer banking, mortgage services, and wealth management, across 12 states concentrated in the southern U.S. First Horizon has gained recognition as a desirable workplace, with accolades from renowned publications like Fortune and Forbes, further solidifying its reputation within the financial services landscape.

For more information about their services and financial insights, visit First Horizon's official website.