First Commonwealth FinancialNYSE: FCF

Occidental Petroleum's impressive 3Q 2024 results include record production of 1.4 million barrels/day and strong FCF of $1.5 billion. The CrownRock acquisition boosts production, with 109k barrels in 3Q 2024 and expected 50% growth in 4Q, enhancing portfolio strength. Financially, Occidental is rapidly de-leveraging, repaying $4 billion in debt, and trading at a double-digit FCF yield, promising substantial shareholder returns.

Suncor just reported the highest refining throughput in the company's history at 488,000 barrels per day, and the upstream segment also reported its best third quarter ever. The management change that occurred in 2023 led to a strategic review of the portfolio, and the improvements in operational efficiency are clearly visible by now. Suncor's asset base is characterized by a high level of integration along with a compelling concentration around low-decline oil sand mining assets.

Shareholder dilution is likely to continue for some time in order to improve the debt situation. But revenue growth, customer growth and FCF are all on a positive trajectory. And a positive FCF, I think, would improve sentiment and lead to a multiple re-rating.

First Commonwealth Financial Corporation (NYSE:FCF ) Q3 2024 Earnings Conference Call October 30, 2024 2:00 PM ET Company Participants Ryan Thomas - VP, Finance & IR Thomas Michael Price - President & CEO James Reske – CFO Jane Grebenc - Bank President & CRO Brian Sohocki - Chief Credit Officer Mike McCuen - Chief Lending Officer Conference Call Participants Daniel Tamayo - Raymond James Karl Shepard – RBC Capital Markets Kelly Motta – KBW Matthew Breese – Stephens Frank Schiraldi - Piper Sandler Manuel Navas - D.A. Davidson Daniel Cardenas - Janney Montgomery Scott Operator Thank you for standing by and welcome to the First Commonwealth Financial Corporation Third Quarter 2024 Earnings Release Conference Call.

Although the revenue and EPS for First Commonwealth Financial (FCF) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

First Commonwealth Financial (FCF) came out with quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.39 per share a year ago.

INDIANA, Pa., Oct. 29, 2024 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the third quarter of 2024.

Q3 results previewed weaker as refining margins seen down 66% from Q2. Also factoring in lower liquids prices and weaker trading, we estimate Q3 CFO down 8% q/q. Yet, we remain highly positive on Total's midterm outlook with mgmt guiding for ~7% FCF/sh CAGR through 2030, materially above Shell and BP. This is supported by Integrated Power becoming FCF-positive by 2028 and production growing at ~3% annually, potentially making Total the largest European major by the end of the decade.

INDIANA, Pa., Oct. 15, 2024 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) announced today that it will host a conference call on Wednesday, October 30, 2024 at 2:00 p.m. Eastern Time to discuss financial results for the quarter ended September 30, 2024. The call will be hosted by T. Michael Price, President and Chief Executive Officer. He will be joined by James R. Reske, Executive Vice President and Chief Financial Officer, Jane Grebenc, Executive Vice President and Chief Revenue Officer and Brian J. Sohocki, Executive Vice President and Chief Credit Officer. First Commonwealth will issue a press release reporting its Third Quarter 2024 financial results after the market closes on Tuesday, October 29, 2024.