First Horizon National (FHN) announced its results for the second quarter on July 20, 2012.
Earnings and Revenue
The company's EPS fell in line with analyst expectations of -50 cents a share while revenue of $331.6 million missed estimates of $358.1 million. The estimates of 20 analysts ranged from net loss of 37 cents to net loss of 63 cents.
The company's net loss for the quarter was $124.8 million. Revenue fell 8% from $395.5 million in the same period last year.
Company Fundamental Trends
The company's loss in the latest quarter comes after The company reported profits in the three prior quarters.
History Against Expectations
The company fell in line with estimates last quarter after missing the mark in the previous two quarters. In the first quarter, it fell short by one cent, and in the fourth quarter of the last fiscal year, it missed by one cent.
"Our company continues to generate solid results in our regional bank through First Tennessee and our capital markets group through FTN Financial, and our employees continue to win new business, improve the way they serve our customers and work more efficiently at every turn," said Bryan Jordan, chairman, president and CEO of First Horizon. "We are pleased with the progress our folks have made on our efforts to position us for the future including technology investments and the continued wind-down of our non-strategic businesses."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.