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First Commonwealth Financial and First Financial Bancorp Report Q3 Earnings Below and Above Expectations Respectively

First Commonwealth Financial Corp reports Q3 earnings of $39.2 million, falling short of Wall Street's expectations, while First Financial Bancorp outperforms predictions with a net income of $63.1 million.

Overview

  • First Commonwealth Financial Corp. (FCF) reported third-quarter earnings of $39.2 million, falling short of Wall Street expectations which had predicted earnings of 40 cents per share.
  • The company's financial results also revealed a revenue of $164.7 million for the quarter, with revenue net of interest expense reported at $122.6 million, both of which also did not meet analyst estimates.
  • In contrast, First Financial Bancorp (FFBC) outperformed predictions with a net income of $63.1 million for its third quarter.
  • The Cincinnati-based bank announced earnings of 66 cents per share, adjusting for non-recurring costs, the earnings were 67 cents per share.
  • First Financial Bancorp's revenue for the period was $288.7 million, with its revenue net of interest expense surpassing street forecasts at $213.7 million.