Comerica Q4 Adj. EPS $1.46 Beats $1.36 Estimate, Sales $782.00M Miss $839.36M Estimate
Portfolio Pulse from Benzinga Newsdesk
Comerica (NYSE:CMA) reported Q4 adjusted earnings per share (EPS) of $1.46, surpassing the analyst estimate of $1.36 by 7.35%. However, this represents a 43.41% decrease from the $2.58 EPS reported in the same quarter last year. Quarterly sales were $782 million, falling short of the $839.36 million estimate by 6.83% and marking a 23.33% decline from the $1.02 billion reported in the previous year's corresponding period.
January 19, 2024 | 11:46 am
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Comerica's Q4 earnings surpassed expectations with an EPS of $1.46, but the company experienced significant year-over-year declines in both EPS and sales, with sales missing estimates.
While Comerica beat EPS estimates, the significant year-over-year decline in earnings and the miss on revenue estimates are likely to concern investors, potentially leading to a negative short-term impact on the stock price.
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