First Commonwealth Financial Corporation (FCF)
NYSE NYSE Primary 
XFRA 
Cable One: 15% Equity FCF Yield, Below Replacement Value, Inflecting Fundamentals
On a near 15% equity free cash flow yield, it seems well discounted in the CABO stock. Advantaged/less competitive rural network, cheaper to buy than compete with. MBI transaction, a bad deal but overly discounted.
Conagra Brands: 11% FCF Yield, Attractive At A 10-11x P/E Heading Into Earnings
Consumer Staples stocks, including Conagra Brands, have underperformed relative to the S&P 500, with depressed P/E multiples among many blue-chip names. I rate Conagra Brands as a buy, seeing it undervalued despite technical chart issues and recent disappointing quarterly earnings. Key risks include rising interest rates, food commodity inflation, and a weaker global macroeconomic environment, but CAG's high free cash flow yield is a positive.
Teleperformance: Very Interesting Trends, A Continued 'Buy' For Me
Teleperformance stock is undervalued, trading at €89/share with a P/E of 6x, despite strong fundamentals and a diversified revenue stream across multiple sectors. The company has shown consistent growth, with 3% pro forma and 26.7% reported in Q3'24, and maintains a BBB rating with solid financials. Teleperformance's FCF is robust, enabling dividends, strategic M&As, and share buybacks, contributing to a levered FCF yield of 18.8%.
VictoryShares Launches GFLW, a Growth-Oriented FCF ETF
VictoryShares launched its newest free cash flow1 (FCF) ETF today with a focus on growth companies. The VictoryShares Free Cash Flow Growth ETF (GFLW) expands on the existing FCF ETF suite by delivering a portfolio of high-quality, profitable, large-cap growth companies with the potential to compound FCF over time.
Pure Storage Earnings: Hyperscaler Deal Isn't Enough For 36x Forward FCF
Pure Storage's stock surged 20% post-earnings, but I remain neutral due to concerns about fiscal 2026 growth rates and a 36x forward free cash flow valuation. The company's innovative flash-based storage solutions and strong net cash position are commendable, but the competitive landscape and reliance on a hyperscaler add risk. Fiscal 2026 growth projections are uncertain, with potential muted growth rates raising questions about investor enthusiasm and valuation sustainability.
B&G Foods: Sale Of Business Units, Positive FCF, And Cheap
B&G Foods is undergoing transformation, selling assets from its Frozen & Vegetables unit, potentially enhancing stock valuation with new cash inflows and reduced net debt. The company has a long history of brand acquisitions and integration, which could benefit EBITDA margin growth and free cash flow generation. Despite recent stock price declines, B&G Foods' long-term performance and current valuation suggest the stock is undervalued, presenting significant upside potential.
Valeura Energy: More Cash Than Its Market Capitalization
Valeura Energy, a Canadian oil company, has a $400 million market capitalization, no debt, and $156 million in cash. The company generates $200 million in annual FCF. Valeura's two strategic acquisitions in 2022/23 and efficient operations have driven a 10x share price increase over the last three years. Despite strong share price growth, Valeura's shares remain undervalued, trading at only 2 times FCF and 0.8 times EV/EBITDA.
Occidental Petroleum Is A Buy Once Again
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 Energy: Significant FCF Generation In Q3, Supported By Decline Rates In The Industry
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.
fuboTV: Positive FCF Would Likely Completely Change Sentiment
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 (FCF) Q3 2024 Earnings Call Transcript
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.
Compared to Estimates, First Commonwealth Financial (FCF) Q3 Earnings: A Look at Key Metrics
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.
