First Commonwealth Financial Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

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

Key Financial Results

• Revenue: US$110.5m (down 5.3% from 3Q 2023).
• Net income: US$32.1m (down 18% from 3Q 2023).
• Profit margin: 29% (down from 34% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.31 (down from US$0.38 in 3Q 2023).

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

First Commonwealth Financial Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of First Commonwealth Financial's balance sheet and an in-depth analysis of the company's financial position.

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