FCF FY 2020 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2020 Earnings

Reported March 1, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$396M	—	$411M	—	-3.7%
Op. Income	$90M	—	$131M	—	-31.1%
Gross Margin	77.3%	—	83.0%	—	-5.6pp
Net Margin	18.6%	—	25.6%	—	-7.1pp
EPS (Diluted)	$0.75	—	$1.07	—	-29.9%
Free Cash Flow	$98M	—	$90M	—	8.7%

Revenue Flow

Item	Amount
REVENUE	$396M
Cost of Revenue	$90M
GROSS PROFIT	$306M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$125M
SG&A Expenses	$130M
Other Expenses	$86M
Operating Expenses	$216M
Cost & Expenses	$305M
OPERATING INCOME	$90M
Interest Income	$301M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$90M
Income Tax Expense	$17M
Net Income from Continuing Ops	$73M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$73M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$73M
D&A	$12M
EBIT	$90M
EBITDA	$102M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$396M
Cost of Revenue	$90M
GROSS PROFIT	$306M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$125M
SG&A Expenses	$130M
Other Expenses	$86M
Operating Expenses	$216M
Cost & Expenses	$305M
OPERATING INCOME	$90M
Interest Income	$301M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$90M
Income Tax Expense	$17M
Net Income from Continuing Ops	$73M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$73M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$73M
D&A	$12M
EBIT	$90M
EBITDA	$102M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$73M
Depreciation & Amortization	$12M
Stock-Based Compensation	$0
Deferred Income Tax	-$8M
Other Non-Cash Items	$41M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$106M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	-$497M
Sales/Maturities of Investments	$591M
Other Investing Activities	-$570M
NET CASH FROM INVESTING	-$483M
Net Debt Issuance	-$86M
Common Stock Repurchased	-$21M
Common Dividends Paid	-$43M
Other Financing Activities	$761M
NET CASH FROM FINANCING	$612M
FREE CASH FLOW	$98M
Net Change in Cash	$235M

Balance Sheet

Item	Amount
Cash & Equivalents	$357M
Short-Term Investments	$831M
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$126M
Goodwill	$303M
Intangible Assets	$13M
Long-Term Investments	$7.1B
Tax Assets	$0
Other Non-Current Assets	$371M
TOTAL NON-CURRENT ASSETS	$7.9B
TOTAL ASSETS	$9.1B
Account Payables	$0
Short-Term Debt	$117M
Deferred Revenue	$0
Other Current Liabilities	$7.4B
TOTAL CURRENT LIABILITIES	$7.6B
Long-Term Debt	$227M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$210M
TOTAL NON-CURRENT LIABILITIES	$443M
TOTAL LIABILITIES	$8.0B
Common Stock	$114M
Additional Paid-In Capital	$495M
Retained Earnings	$597M
Treasury Stock	-$154M
Accum. Other Comp. Income	$17M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$9.1B
Total Debt	$351M
Net Debt	-$6M