Filing Flows › First Horizon (FHN) › Q3 2025
First Horizon (FHN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
First Horizon (FHN) reported revenue of $889M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +7% from the quarter before. Operating margin was 38.7%, net earnings $262M (29.5% of revenue).
First Horizon, Q3 2025: revenue $889M (+8% year over year), operating margin 38.7%, net earnings $262M, operating cash flow −$200M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $889M | +7% | +7% |
| Operating profit | $344M | +11% | +22% |
| Net earnings | $262M | +9% | +20% |
| Operating cash flow | −$200M | -341% | — |
What changed
Revenue was $889.0M in Q3 2025, up 7% year over year and up 7% from the previous quarter.
Operating profit was $344.0M, a 38.7% margin (up 4.7 points year over year). Of the extra revenue versus a year earlier, 102% reached operating profit, above the 34% margin then. Total costs fell 0% while revenue rose 7%. Net earnings were $262.0M, up 20% year over year. The effective tax rate was 22.7%.
Operating cash flow was −$200.0M. Non-cash charges added back $6.0M of depreciation and amortization and $15.0M of share-based compensation. Working capital and other items used $487.0M. Capital expenditures of $8.0M exceeded it, leaving free cash flow of −$208.0M.
Questions
What was First Horizon's revenue in the third quarter 2025?
First Horizon (FHN) reported revenue of $889M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +7% from the quarter before.
Was First Horizon profitable in the third quarter 2025?
Operating profit was $344M (38.7% of revenue) and net earnings $262M.
Source: First Horizon 10-Q on SEC EDGAR.