Yahoo Finance Comerica First Quarter 2024 Earnings: Misses Expectations
Comerica (NYSE:CMA) First Quarter 2024 Results
Key Financial Results
Revenue: US$770.0m (down 20% from 1Q 2023).
Net income: US$131.0m (down 59% from 1Q 2023).
Profit margin: 17% (down from 33% in 1Q 2023).
EPS: US$0.99 (down from US$2.42 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Comerica Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 10.0%.
Looking ahead, revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 5.2% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Comerica has 1 warning sign we think you should be aware of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
