First Commonwealth Financial Second Quarter 2024 Earnings: Beats Expectations

First Commonwealth Financial (NYSE:FCF) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$112.3m (down 6.1% from 2Q 2023).
• Net income: US$37.1m (down 13% from 2Q 2023).
• Profit margin: 33% (down from 36% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.36 (down from US$0.42 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

First Commonwealth Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%.

Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 4.0% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for First Commonwealth Financial you should know about.

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