FCF FY 2021 Earnings Report — First Commonwealth Financial Corporation Revenue & Financial Results | Market Cap Arena

First Commonwealth Financial CorporationFCF

FY 2021 Earnings

Reported February 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$401M	—	$396M	—	1.2%
Op. Income	$173M	—	$90M	—	91.6%
Gross Margin	96.5%	—	77.3%	—	19.2pp
Net Margin	34.5%	—	18.6%	—	16.0pp
EPS (Diluted)	$1.44	—	$0.75	—	92.0%
Free Cash Flow	$154M	—	$98M	—	57.4%

Revenue Flow

Item	Amount
REVENUE	$401M
Cost of Revenue	$14M
GROSS PROFIT	$387M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$122M
SG&A Expenses	$127M
Other Expenses	$87M
Operating Expenses	$214M
Cost & Expenses	$228M
OPERATING INCOME	$173M
Interest Income	$293M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$173M
Income Tax Expense	$35M
Net Income from Continuing Ops	$138M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$138M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$138M
D&A	$11M
EBIT	$173M
EBITDA	$184M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$401M
Cost of Revenue	$14M
GROSS PROFIT	$387M
R&D Expenses	$0
Selling & Marketing	$5M
General & Administrative	$122M
SG&A Expenses	$127M
Other Expenses	$87M
Operating Expenses	$214M
Cost & Expenses	$228M
OPERATING INCOME	$173M
Interest Income	$293M
Interest Expense	$15M
Other Income/Expenses	$0
INCOME BEFORE TAX	$173M
Income Tax Expense	$35M
Net Income from Continuing Ops	$138M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$138M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$138M
D&A	$11M
EBIT	$173M
EBITDA	$184M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$138M
Depreciation & Amortization	$11M
Stock-Based Compensation	$0
Deferred Income Tax	$1M
Other Non-Cash Items	-$2M
Change in Working Capital	$16M
OPERATING CASH FLOW	$165M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$555M
Other Investing Activities	-$71M
NET CASH FROM INVESTING	-$565M
Net Debt Issuance	-$30M
Common Stock Repurchased	-$31M
Common Dividends Paid	-$44M
Other Financing Activities	$544M
NET CASH FROM FINANCING	$439M
FREE CASH FLOW	$154M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$395M
Short-Term Investments	$1.0B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$121M
Goodwill	$303M
Intangible Assets	$11M
Long-Term Investments	$7.3B
Tax Assets	$39M
Other Non-Current Assets	$354M
TOTAL NON-CURRENT ASSETS	$8.1B
TOTAL ASSETS	$9.5B
Account Payables	$0
Short-Term Debt	$138M
Deferred Revenue	$0
Other Current Liabilities	$8.0B
TOTAL CURRENT LIABILITIES	$8.1B
Long-Term Debt	$176M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$133M
TOTAL NON-CURRENT LIABILITIES	$315M
TOTAL LIABILITIES	$8.4B
Common Stock	$114M
Additional Paid-In Capital	$496M
Retained Earnings	$691M
Treasury Stock	-$183M
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$9.5B
Total Debt	$321M
Net Debt	-$75M