FCF FY 2019 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$411M	—	$381M	—	7.8%
Op. Income	$131M	—	$133M	—	-1.4%
Gross Margin	83.0%	—	86.2%	—	-3.2pp
Net Margin	25.6%	—	28.2%	—	-2.6pp
EPS (Diluted)	$1.07	—	$1.08	—	-0.9%
Free Cash Flow	$90M	—	$126M	—	-28.2%

Revenue Flow

Item	Amount
REVENUE	$411M
Cost of Revenue	$70M
GROSS PROFIT	$341M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$124M
SG&A Expenses	$128M
Other Expenses	$82M
Operating Expenses	$210M
Cost & Expenses	$280M
OPERATING INCOME	$131M
Interest Income	$325M
Interest Expense	$55M
Other Income/Expenses	$0
INCOME BEFORE TAX	$131M
Income Tax Expense	$26M
Net Income from Continuing Ops	$105M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$105M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$105M
D&A	$10M
EBIT	$131M
EBITDA	$141M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$411M
Cost of Revenue	$70M
GROSS PROFIT	$341M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$124M
SG&A Expenses	$128M
Other Expenses	$82M
Operating Expenses	$210M
Cost & Expenses	$280M
OPERATING INCOME	$131M
Interest Income	$325M
Interest Expense	$55M
Other Income/Expenses	$0
INCOME BEFORE TAX	$131M
Income Tax Expense	$26M
Net Income from Continuing Ops	$105M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$105M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$105M
D&A	$10M
EBIT	$131M
EBITDA	$141M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$105M
Depreciation & Amortization	$10M
Stock-Based Compensation	$0
Deferred Income Tax	$2M
Other Non-Cash Items	-$12M
Change in Working Capital	$2M
OPERATING CASH FLOW	$108M
Capital Expenditure	-$17M
Acquisitions (Net)	$332M
Purchases of Investments	-$139M
Sales/Maturities of Investments	$245M
Other Investing Activities	-$298M
NET CASH FROM INVESTING	$123M
Net Debt Issuance	-$460M
Common Stock Repurchased	-$6M
Common Dividends Paid	-$39M
Other Financing Activities	$298M
NET CASH FROM FINANCING	-$208M
FREE CASH FLOW	$90M
Net Change in Cash	$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$122M
Short-Term Investments	$902M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$137M
Goodwill	$303M
Intangible Assets	$16M
Long-Term Investments	$6.5B
Tax Assets	$0
Other Non-Current Assets	$320M
TOTAL NON-CURRENT ASSETS	$7.3B
TOTAL ASSETS	$8.3B
Account Payables	$0
Short-Term Debt	$202M
Deferred Revenue	$0
Other Current Liabilities	$6.7B
TOTAL CURRENT LIABILITIES	$6.9B
Long-Term Debt	$227M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$139M
TOTAL NON-CURRENT LIABILITIES	$374M
TOTAL LIABILITIES	$7.3B
Common Stock	$114M
Additional Paid-In Capital	$494M
Retained Earnings	$577M
Treasury Stock	-$135M
Accum. Other Comp. Income	$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$8.3B
Total Debt	$436M
Net Debt	$314M