Record increase to FCF outlook driven by Q1 outperformance and expected 2H bookings acceleration – now anticipating 26% FCF margin in FY2024, one year ahead of plan and within clear sight of hitting Rule of 40 milestone already this year NEW YORK, May 20, 2024 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: WIX), the leading SaaS website builder platform globally2, today reported financial results for the first quarter of 2024. In addition, the Company provided its outlook for the second quarter and an increased outl ...

Investment Thesis - Powell Industries (NASDAQ: POWL) has shown strong growth recently, but investor skepticism remains regarding the sustainability of this growth, leading to a reluctance to pay a fair premium for the stock [1] - Despite concerns, the current pricing at 13x forward free cash flow is considered an attractive risk-reward opportunity [1] Revenue Growth and Performance - The company is estimated to achieve a 25% compound annual growth rate (CAGR) in revenues, with a conservative valuation of 9x forward free cash flow indicating it is undervalued [2][10] - Powell Industries has outperformed the S&P 500 slightly since the previous analysis, although the stock has experienced volatility [2] - Recent quarterly results indicate strong revenue growth, particularly in the oil and gas and petrochemical sectors, despite a stagnant backlog of $1.3 billion since September 2023 [5][12] Operational Insights - Powell operates in electrical automation and control, providing custom-engineered solutions for various industries [5] - The company has a balanced mix of small- and medium-sized projects, which supports its growth and reflects its core competencies [6] - Expansion initiatives, including the completion of a facility expansion in Houston, highlight Powell's commitment to future growth [6] Challenges and Market Conditions - Powell faces challenges related to macroeconomic uncertainties, particularly in the LNG market, which may delay new project activities [7] - Limitations on gross margin expansion are noted as the company approaches full capacity utilization, which could impact stock performance [8] Financial Health and Valuation - Powell Industries maintains a strong balance sheet, with nearly 20% of its market cap in cash and no debt, providing flexibility for significant investments [16] - The company is projected to generate approximately $150 million in free cash flow over the next twelve months, leading to a valuation of 13x forward free cash flow, which is considered compelling given the expected revenue growth [16][17] Conclusion - Despite prevailing doubts about growth sustainability, Powell Industries is viewed as an attractive investment opportunity due to its robust revenue growth, strong balance sheet, and consistent free cash flow generation [18][19]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-11138 (Registrant's telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last r ...

First Commonwealth Financial Corporation (NYSE:FCF) Q1 2024 Earnings Conference Call April 24, 2024 2:00 PM ET Company Participants Ryan Thomas - VP, Finance and IR Mike Price - President and CEO Jim Reske - CFO Jane Grebenc - Bank President, Chief Revenue Officer Brian Karrip - Chief Credit Officer Conference Call Participants Daniel Tamayo - Raymond James Karl Shepard - RBC Capital Markets Kelly Motta - KBW Matthew Breese - Stephens Inc. Manuel Navas - D.A. Davidson Frank Schiraldi - Piper Sandler Opera ...

For the quarter ended March 2024, First Commonwealth Financial (FCF) reported revenue of $116.29 million, down 0.9% over the same period last year. EPS came in at $0.37, compared to $0.45 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $120.02 million, representing a surprise of -3.11%. The company delivered an EPS surprise of +2.78%, with the consensus EPS estimate being $0.36.While investors closely watch year-over-year changes in headline numbers -- revenue and ea ...

Exhibit 99.1 FOR IMMEDIATE RELEASE First Commonwealth Announces First Quarter 2024 Earnings; Increases Quarterly Dividend Indiana, PA, April 23, 2024 - First Commonwealth Financial Corporation (NYSE: FCF) today announced financial results for the first quarter of 2024. Financial Summary | (dollars in thousands, | | | | For the Three Months Ended | | | | --- | --- | --- | --- | --- | --- | --- | | except per share data) | | March 31, | | December 31, | | March 31, | | | | 2024 | | 2023 | | 2023 | | Reported ...

INDIANA, Pa., April 23, 2024 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE:FCF) today announced financial results for the first quarter of 2024. Financial Summary (dollars in thousands,For the Three Months Endedexcept per share data)March 31, December 31, March 31,  2024   2023   2023 Reported Results     Net income$37,549  $44,827  $30,224 Diluted earnings per share$0.37  $0.44  $0.30 Return on average assets 1.31%  1.56%  1.17%Return on average equity 11.40%  14.11%  10.56%      Opera ...

INDIANA, Pa., April 02, 2024 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE:FCF) announced today that it will host a conference call on Wednesday, April 24, 2024 at 2:00 p.m. Eastern Time to discuss financial results for the quarter ended March 31, 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 Offic ...

INDIANA, Pa., April 02, 2024 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (NYSE: FCF) announced today that it will host a conference call on Wednesday, April 24, 2024 at 2:00 p.m. Eastern Time to discuss financial results for the quarter ended March 31, 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 Offi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file Number 001-11138 FIRST COMMONWEALTH FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | PENNSYLVANIA | 25-1428 ...