FCF FY 2016 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2016 Earnings

Reported March 14, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$282M	—	$265M	—	6.3%
Op. Income	$85M	—	$71M	—	20.1%
Gross Margin	87.1%	—	88.5%	—	-1.4pp
Net Margin	21.1%	—	18.9%	—	2.2pp
EPS (Diluted)	$0.67	—	$0.56	—	19.6%
Free Cash Flow	$82M	—	$68M	—	21.1%

Revenue Flow

Item	Amount
REVENUE	$282M
Cost of Revenue	$37M
GROSS PROFIT	$246M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$101M
SG&A Expenses	$103M
Other Expenses	$57M
Operating Expenses	$160M
Cost & Expenses	$197M
OPERATING INCOME	$85M
Interest Income	$215M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$26M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$60M
D&A	$7M
EBIT	$85M
EBITDA	$92M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$282M
Cost of Revenue	$37M
GROSS PROFIT	$246M
R&D Expenses	$0
Selling & Marketing	$3M
General & Administrative	$101M
SG&A Expenses	$103M
Other Expenses	$57M
Operating Expenses	$160M
Cost & Expenses	$197M
OPERATING INCOME	$85M
Interest Income	$215M
Interest Expense	$19M
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$26M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$60M
D&A	$7M
EBIT	$85M
EBITDA	$92M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$60M
Depreciation & Amortization	$7M
Stock-Based Compensation	$3M
Deferred Income Tax	$6M
Other Non-Cash Items	$18M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$89M
Capital Expenditure	-$7M
Acquisitions (Net)	$479M
Purchases of Investments	-$174M
Sales/Maturities of Investments	$278M
Other Investing Activities	-$82M
NET CASH FROM INVESTING	$494M
Net Debt Issuance	-$639M
Common Stock Repurchased	-$864.0K
Common Dividends Paid	-$25M
Other Financing Activities	$128M
NET CASH FROM FINANCING	-$537M
FREE CASH FLOW	$82M
Net Change in Cash	$46M

Balance Sheet

Item	Amount
Cash & Equivalents	$116M
Short-Term Investments	$779M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$894M
PP&E (Net)	$68M
Goodwill	$186M
Intangible Assets	$12M
Long-Term Investments	$5.2B
Tax Assets	$0
Other Non-Current Assets	$278M
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$6.7B
Account Payables	$0
Short-Term Debt	$868M
Deferred Revenue	$0
Other Current Liabilities	$4.9B
TOTAL CURRENT LIABILITIES	$5.8B
Long-Term Debt	$81M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1M
Other Non-Current Liabilities	$38M
TOTAL NON-CURRENT LIABILITIES	$119M
TOTAL LIABILITIES	$5.9B
Common Stock	$106M
Additional Paid-In Capital	$366M
Retained Earnings	$413M
Treasury Stock	-$128M
Accum. Other Comp. Income	-$7M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$750M
Minority Interest	$0
TOTAL EQUITY	$750M
TOTAL LIABILITIES & EQUITY	$6.7B
Total Debt	$949M
Net Debt	$833M