First Horizon Corporation Q1 Profit Decreases, but beats estimates

(RTTNews) - First Horizon Corporation (FHN) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $184 million, or $0.33 per share. This compares with $243 million, or $0.43 per share, in last year's first quarter.

Excluding items, First Horizon Corporation reported adjusted earnings of $195 million or $0.35 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.7% to $819 million from $859 million last year.

First Horizon Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $184 Mln. vs. $243 Mln. last year. -EPS (Q1): $0.33 vs. $0.43 last year. -Revenue (Q1): $819 Mln vs. $859 Mln last year.