21.01.2020, 22:50
Financial | Money Center Banks | USA
Comerica (CMA) Q4 Earnings Beat Estimates, Revenues Down Y/Y
Comerica CMA has reported positive earnings surprise of 6.3% in fourth-quarter 2019 on high interest income. Earnings per share of $1.85 surpassed the Zacks Consensus Estimate of $1.74. Earnings, however, came in lower than the prior-year quarter figure of $1.95.
Higher non-interest income and lower provisions were recorded. Moreover, rise in deposits was another tailwind. Yet, lower loans and rise in expenses were undermining factors. Further, decline in net interest income was a major drag.
Net income came in at $269 million in the quarter, down 13.2% year over year.
Furthermore, segment wise, on a year-over-year basis, net income decreased 3% at Business Bank, 52.2% at Retail Bank and 9.4% at Wealth Management. The Finance segment reported net loss as against the income recorded in the prior-year quarter.
For full-year 2019, adjusted net income was $1.19 billion or $7.81 per share compared with the prior year’s $1.24 billion or $7.24 per share. Earnings per share surpassed the Zacks Consensus Estimate of $7.74. Notably, the 2019 results include securities repositioning charge and discrete tax items.
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https://finance.yahoo.com/news/comerica-...01293.html
![[Bild: CMAc1dl1548.png]](https://finviz.com/publish/012120/CMAc1dl1548.png)
Comerica (CMA) Q4 Earnings Beat Estimates, Revenues Down Y/Y
Comerica CMA has reported positive earnings surprise of 6.3% in fourth-quarter 2019 on high interest income. Earnings per share of $1.85 surpassed the Zacks Consensus Estimate of $1.74. Earnings, however, came in lower than the prior-year quarter figure of $1.95.
Higher non-interest income and lower provisions were recorded. Moreover, rise in deposits was another tailwind. Yet, lower loans and rise in expenses were undermining factors. Further, decline in net interest income was a major drag.
Net income came in at $269 million in the quarter, down 13.2% year over year.
Furthermore, segment wise, on a year-over-year basis, net income decreased 3% at Business Bank, 52.2% at Retail Bank and 9.4% at Wealth Management. The Finance segment reported net loss as against the income recorded in the prior-year quarter.
For full-year 2019, adjusted net income was $1.19 billion or $7.81 per share compared with the prior year’s $1.24 billion or $7.24 per share. Earnings per share surpassed the Zacks Consensus Estimate of $7.74. Notably, the 2019 results include securities repositioning charge and discrete tax items.
...
https://finance.yahoo.com/news/comerica-...01293.html