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First Commonwealth Financial Third Quarter 2022 Earnings: Revenues Beat Expectations, EPS Lags

First Commonwealth Financial (NYSE:FCF) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$102.3m (up 5.0% from 3Q 2021).

  • Net income: US$34.0m (flat on 3Q 2021).

  • Profit margin: 33% (down from 35% in 3Q 2021). The decrease in margin was driven by higher expenses.

  • EPS: US$0.36.

earnings-and-revenue-growth
earnings-and-revenue-growth

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 2.7%. Earnings per share (EPS) missed analyst estimates by 4.3%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.1% 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

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on First Commonwealth Financial's balance sheet health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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