Compared to Estimates, First Commonwealth Financial (FCF) Q3 Earnings: A Look at Key Metrics

Core Insights - First Commonwealth Financial (FCF) reported revenue of $121.21 million for Q3 2024, a year-over-year decline of 1.1% [1] - The earnings per share (EPS) for the same period was $0.31, down from $0.39 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $118.4 million, resulting in a surprise of +2.38% [1] - However, the EPS fell short of the consensus estimate of $0.36, leading to an EPS surprise of -13.89% [1] Financial Metrics - Core Efficiency Ratio stood at 56.7%, slightly above the average estimate of 56.3% from three analysts [3] - Net interest margin (FTE) was reported at 3.6%, matching the average estimate from three analysts [3] - Total Interest-Earning Assets (FTE) reached $10.83 billion, surpassing the average estimate of $10.72 billion [3] - Total Non-Interest Income was $24.70 million, exceeding the average estimate of $22.30 million [3] - Gain on sale of mortgage loans was $1.15 million, below the average estimate of $1.94 million [3] - Gain on sale of other loans and assets was $2.58 million, significantly higher than the average estimate of $1.24 million [3] - Net Interest Income was reported at $96.52 million, above the average estimate of $95.65 million [3] - Card-related interchange income was $4.14 million, exceeding the average estimate of $3.86 million [3] - Net interest income (FTE) was $96.86 million, slightly below the average estimate of $97 million [3] - Trust income was $3.24 million, above the average estimate of $2.98 million [3] - Service charges on deposit accounts were $5.84 million, marginally above the average estimate of $5.83 million [3] - Insurance and retail brokerage commissions were $2.66 million, below the average estimate of $2.90 million [3] Stock Performance - Shares of First Commonwealth Financial have returned -0.4% over the past month, compared to a +1.7% change in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]