Comerica Q1 2024 Adj EPS $1.29 Beats $1.12 Estimate, Sales $784.000M Miss $806.371M Estimate
Portfolio Pulse from Benzinga Newsdesk
Comerica (NYSE:CMA) reported Q1 2024 adjusted EPS of $1.29, surpassing the $1.12 estimate, but its sales of $784M fell short of the $806.371M forecast, marking a 20.81% decrease from the previous year.
April 18, 2024 | 10:47 am
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Comerica reported a Q1 2024 EPS of $1.29, beating estimates, but sales of $784M missed forecasts and showed a significant year-over-year decline.
While Comerica's EPS beat may positively influence investor sentiment due to better-than-expected profitability, the miss on sales and the significant year-over-year decline could raise concerns about revenue growth and operational challenges. The mixed results present a neutral outlook in the short term as the positive earnings surprise is offset by revenue concerns.
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