First Horizon (NYSE:FHN) Q3 2025 Earnings Call October 15, 2025 09:30 AM ET Company ParticipantsBryan Jordan - Chairman, President, and CEOTyler Craft - Head of Investor RelationsHope Dmuchowski - CFOThomas Hung - Chief Credit OfficerConference Call ParticipantsAndrew Leischner - AnalystTimur Braziler - AnalystBen Gerlinger - AnalystJared Shaw - AnalystJanet Lee - AnalystJon Arfstrom - AnalystNick Holowko - AnalystCasey Haire - AnalystNone - AnalystChristopher Marinac - AnalystAnthony Elian - AnalystModerat ...

First Horizon (NYSE:FHN) Q3 2025 Earnings Call October 15, 2025 09:30 AM ET Company ParticipantsBryan Jordan - Chairman, President, and CEOTyler Craft - Head of Investor RelationsHope Dmuchowski - CFOThomas Hung - Chief Credit OfficerConference Call ParticipantsAndrew Leischner - AnalystTimur Braziler - AnalystBen Gerlinger - AnalystJared Shaw - AnalystJanet Lee - AnalystJon Arfstrom - AnalystNick Holowko - AnalystCasey Haire - AnalystNone - AnalystChristopher Marinac - AnalystAnthony Elian - AnalystModerat ...

Financial Data and Key Metrics Changes - Morgan Stanley reported record revenues of $18.2 billion and earnings per share (EPS) of $2.8 for Q3 2025, with a return on tangible equity (RoTCE) of 23.5% [3][11] - The year-to-date efficiency ratio stood at 69%, indicating strong operational leverage [11] - Total client assets across Wealth and Investment Management increased by $1.3 trillion year-over-year, reaching $8.9 trillion [5][11] Business Line Data and Key Metrics Changes - Institutional Securities revenues were $8.5 billion, with investment banking revenues increasing to $2.1 billion, marking a year-over-year growth of over 50% [13][14] - Wealth Management achieved record revenues of over $8 billion, with a reported margin of 30.3% [19][21] - Investment Management saw total assets under management (AUM) reach $1.8 trillion, with long-term net inflows of $16.5 billion in the quarter [25][27] Market Data and Key Metrics Changes - The Americas led year-over-year growth in Institutional Securities, with strong performance noted in Asia due to renewed investor appetite [13][14] - The equity underwriting market showed significant activity, with revenues increasing 80% year-over-year to $652 million [15] - Fixed income underwriting revenues were $772 million, driven by higher loan issuance [15] Company Strategy and Development Direction - Morgan Stanley's strategy focuses on raising, managing, and allocating capital, with an emphasis on maintaining earnings durability and driving growth through investment in technology and integrated services [4][9] - The company is actively investing in its wealth and investment management capabilities, including partnerships in private markets and digital assets [20][24] - The firm aims to reach $10 trillion in total client assets as part of its growth trajectory [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the sustainability of investment banking trends, citing a favorable regulatory backdrop and a strong pipeline across regions [32][34] - The firm anticipates continued growth in wealth management driven by workplace migration and IPO activity [38][50] - Management acknowledged the potential for net interest income growth despite a declining rate environment, supported by consistent lending balances [95][96] Other Important Information - Morgan Stanley's CET1 capital ratio stands at 15.2%, with excess capital over 300 basis points [7][28] - The firm is committed to returning capital to shareholders through dividends and share buybacks while focusing on organic growth opportunities [73][80] Q&A Session Summary Question: Sustainability of Investment Banking Trends - Management noted that while it is uncertain if a "golden age" in investment banking is upon us, there are positive signs of growth across various industry groups and regions [31][32] Question: Net New Assets Growth in Wealth Management - Management highlighted strong performance across all channels, with significant contributions from workplace migration and IPOs, exceeding previous expectations [34][38] Question: Sustainability of 30% Pretax Margin - Management emphasized the importance of continued investment in the wealth business to maintain and potentially exceed the 30% margin, viewing it as an output of their investment strategy [42][43] Question: AI's Impact on Business - Management discussed various applications of AI to enhance efficiency and productivity across the firm, indicating that they are just beginning to explore its full potential [46][49] Question: Growth Opportunities in Wealth Management - Management acknowledged the potential for growth in private markets and the importance of educating clients about new products, indicating a long-term growth opportunity [50][52] Question: Capital Deployment for Growth - Management reiterated a focus on organic growth through internal investments while remaining open to inorganic opportunities that align with their strategic goals [72][76]

Financial Data and Key Metrics Changes - The company reported an adjusted earnings per share (EPS) of $0.51, a $0.06 increase from the previous quarter [5] - Adjusted return on tangible common equity increased by 135 basis points to 15% [5] - Net interest income (NII) grew by $33 million, with a 15 basis point expansion of net interest margin to 3.55% [5][6] - Average rate paid on interest-bearing deposits increased to 2.78%, up from 2.76% in the previous quarter [6] Business Line Data and Key Metrics Changes - The loan portfolio saw a slight decrease, with loans to mortgage companies down $132 million, consistent with seasonal trends [7] - Commercial and industrial (CNI) portfolio increased by $174 million quarter over quarter [8] - Fee income increased by $26 million from the prior quarter, driven by improved business conditions [8] - Adjusted expenses increased by $45 million from the previous quarter, primarily due to personnel expenses and outside services [9] Market Data and Key Metrics Changes - Period-end deposits decreased by $52 million, driven by a $652 million decrease in brokered CDs, but non-interest-bearing deposits increased by $131 million [6] - The company retained approximately 97% of the $29 billion in balances associated with clients who had a repricing event [6] Company Strategy and Development Direction - The company aims to achieve a sustainable 15% plus adjusted return on tangible common equity [12] - Focus on executing initiatives that could generate over $100 million in additional pre-tax net revenue [15] - The company is optimistic about capitalizing on profitable loan growth due to recent Fed rate cuts [14] Management's Comments on Operating Environment and Future Outlook - Management noted increased client confidence and pipeline momentum, despite potential impacts from tariff uncertainties [19] - The company is confident in its ability to integrate a well-structured merger if opportunities arise in 2026 or beyond [15] - The outlook for charge-offs and taxes remains unchanged as the year closes [12] Other Important Information - The company ended the quarter with a Common Equity Tier 1 (CET1) ratio of 11%, flat quarter over quarter [10] - Share buybacks accelerated to $190 million, with approximately 8.6 million shares repurchased [11] Q&A Session Summary Question: How optimistic is the company on growth, and is there a noticeable change from a quarter ago? - Management noted a noticeable increase in client confidence and pipeline momentum, with lower rates contributing positively [19] Question: What is the expected margin for the fourth quarter? - The CFO indicated that the margin would likely be in the high 330s to low 340s, adjusting for one-time items [20] Question: What is driving the decline in core deposits? - Management explained that the industry is experiencing a shrinkage in deposits, with a focus on retaining existing clients and attracting new ones [28] Question: What are the company's M&A considerations? - Management emphasized a focus on organic growth but acknowledged the potential for opportunistic M&A if suitable opportunities arise [34][41] Question: How does the company plan to achieve the 15% ROCI target? - The strategy includes reducing capital, normalizing credit costs, and leveraging existing client relationships for revenue growth [66]

Abbott Laboratories (NYSE:ABT) Q3 2025 Earnings Call October 15, 2025 09:00 AM ET Company ParticipantsRobert Ford - Chairman and CEOMike Comilla - VP of Investor RelationsPhil Boudreau - EVP, Finance and CFOTravis Steed - Managing Director and Equity Research of Medical TechnologyDavid Roman - Managing DirectorConference Call ParticipantsLarry Biegelsen - Senior AnalystJosh Jennings - Senior Research AnalystDanielle Antalffy - Senior AnalystSuraj Kalia - Managing Director and Senior Analyst of Medical Techn ...

Abbott Laboratories (NYSE:ABT) Q3 2025 Earnings Call October 15, 2025 09:00 AM ET Company ParticipantsRobert Ford - Chairman and CEOMike Comilla - VP of Investor RelationsPhil Boudreau - EVP, Finance and CFOTravis Steed - Managing Director and Equity Research of Medical TechnologyDavid Roman - Managing DirectorConference Call ParticipantsLarry Biegelsen - Senior AnalystJosh Jennings - Senior Research AnalystDanielle Antalffy - Senior AnalystSuraj Kalia - Managing Director and Senior Analyst of Medical Techn ...

Citizens Financial Group (NYSE:CFG) Q3 2025 Earnings Call October 15, 2025 09:00 AM ET Company ParticipantsJohn Pancari - Senior Managing DirectorBrendan Coughlin - PresidentBruce Van Saun - Chairman and CEOChris McGratty - Manahing DirectorKristin Silberberg - Head of Investor RelationsEbrahim Poonawala - Managing Director and Head of North American Banks ResearchChris Emerson - Interim CFOGerard Cassidy - Managing DirectorScott Siefers - Managing DirectorManan Gosalia - Head of U.S. Midcaps Banks Research ...

Abbott Laboratories (NYSE:ABT) Q3 2025 Earnings Call October 15, 2025 09:00 AM ET Speaker0Good morning, and thank you for standing by. Welcome to Abbott's Third Quarter twenty twenty five Earnings Conference Call. All participants will be able to listen only until the question and answer portion of this call. During the question and answer session, you will be able to ask your question by pressing the star one one keys on your touch tone phone. This call is being recorded by Abbott.With the exception of any ...

Citizens Financial Group (NYSE:CFG) Q3 2025 Earnings Call October 15, 2025 09:00 AM ET Speaker6Good morning, everyone, and welcome to the Citizens Financial Group Third Quarter 2025 Earnings Conference Call. My name is Denise, and I'll be your operator today. Currently, all participants are in a listen-only mode. Following the presentation, we will conduct a brief question and answer session. As a reminder, this event is being recorded. Now, I'll turn the call over to Kristin Silberberg, Head of Investor Re ...

ASML (NasdaqGS:ASML) Q3 2025 Earnings Call October 15, 2025 09:00 AM ET Speaker0Good day, and thank you for standing by. Welcome to the ASML twenty twenty five Third Quarter Financial Results Conference Call on 10/15/2025. At this time, all participants are in a listen only mode. After the speakers' introduction, there will be a question and answer session. Please be advised that today's conference is being recorded.I would now like to turn the conference call over to Mr. Jim Please go ahead.Speaker1Thank y ...