FHN - First Horizon Corporation (FHN) Q1 2024 Earnings Call Transcript

2024-04-17 14:07:02 ET

First Horizon Corporation (FHN)

Q1 2024 Earnings Conference Call

April 17, 2024, 09:30 AM ET

Company Participants

Natalie Flanders - Head, IR

Bryan Jordan - Chairman, President and CEO

Hope Dmuchowski - CFO

Susan Springfield - Chief Credit Officer

Conference Call Participants

Ebrahim Poonawala - Bank of America

Michael Rose - Raymond James

Jon Arfstrom - RBC

Casey Haire - Jefferies

Jared Shaw - Barclays

Chris McGratty - KBW

Steven Alexopoulos - JPMorgan

Timur Braziler - Wells Fargo

Ben Gerlinger - Citi

Christopher Marinac - Janney Montgomery Scott

Brennan Crowley - Baird

Presentation

Operator

Welcome to the First Horizon First Quarter 2024 Earnings Conference Call. My name is Carla and I will be coordinating your call today. [Operator Instructions]

I will now hand you over to your host, Natalie Flanders, Head of Investor Relations to begin. Natalie, please go ahead.

Natalie Flanders

Thank you, Carla. Good morning. Welcome to our first quarter 2024 results conference call. Thank you for joining us. Today, our Chairman, President and CEO, Bryan Jordan; and Chief Financial Officer, Hope Dmuchowski, will provide prepared remarks, and then we'll be happy to take your questions. We're also pleased to have our Chief Credit Officer, Susan Springfield, here to assist with questions as well.

Our remarks today will reference our earnings presentation, which is available on our website at ir.firsthorizon.com. As always, I need to remind you that we will make forward-looking statements that are subject to risks and uncertainties, and therefore, we ask you to review the factors that may cause our results to differ from our expectations on Page 2 of our presentation and in our SEC filings.

Additionally, please be aware that our comments will refer to adjusted results which exclude the impact of notable items. These are non-GAAP measures, so it's important for you to review the GAAP information in our earnings release and on Page 3 of our presentation. And last but not least, our comments reflect our current views and you should understand that we are not obligated to update them.

And with that, I'll turn things over to Bryan.

Bryan Jordan

Thank you, Natalie. Good morning, everyone, and thank you for joining our call.

The first quarter of 2024 was another strong quarter for First Horizon, demonstrating our ability to produce consistent returns for our shareholders. We grew revenue both through expanding our margin and improvement in our countercyclical businesses, while simultaneously reducing expenses and maintaining strong credit performance.

In March, we celebrated our 160th year in business and took the opportunity to celebrate the strength and resiliency of our company, which has been driven by a dedicated and talented associate base. In honor of our 160th anniversary, we recently announced our Grants for Good Campaign, which will award $1.6 million in grants to non-profit organizations within our 12-state footprint. We believe that the communities where we do business are the foundation of First Horizon's long record of success and we are proud to continue to support the clients and communities in our markets....

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