Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Comerica Inc. (CMA)
NYSE:CMA
Holding CMA?
Track your performance easily
Earnings Data
Report Date
Jan 22, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.28Last Year’s EPS
$0.2Same Quarter Last Year
Based on 18 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 18, 2024
|% Change Since: -1.31%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted several positive developments, including exceeding earnings expectations, improved tangible book value, and strong credit quality. Deposit growth and a well-managed capital position also contributed positively. However, challenges remain with loan demand pressure, a decline in noninterest income, and specific issues in corporate banking and commercial real estate. Overall, positive momentum is expected moving into the end of the year and into 2025, but caution is advised due to macroeconomic uncertainties.Company Guidance
During Comerica's Q3 2024 earnings call, the company reported strong financial results, exceeding expectations with earnings of $184 million or $1.33 per share. Net interest income outperformed guidance, increasing by 1.3% over the second quarter, excluding the impact of BSBY cessation. Average deposits grew by 1.3%, while net charge-offs remained low at 8 basis points. The company reported a 23% growth in tangible book value, driven by improvements in AOCI due to a downward shift in the rate curve. Comerica also highlighted an increase in its CET1 ratio to 11.97%, well above the 10% target, and announced plans to repurchase $100 million of its common stock in the fourth quarter. The bank expects modest broad-based loan growth in the fourth quarter, projecting full-year average loans to be 5% lower than 2023. Despite the challenges, Comerica anticipates a solid fourth quarter, setting the stage for a strong start to 2025.Exceeding Earnings Expectations
Reported third-quarter earnings of $184 million or $1.33 per share, exceeding expectations across most line items.
Improved Tangible Book Value
Achieved 23% growth in tangible book value due to strong customer activity and a favorable rate environment.
Solid Credit Quality
Credit quality remains robust with historically low net charge-offs at 8 basis points.
Deposit Growth
Average deposits increased by 1.3% with growth across most business lines, contributing to over $600 million in total period-end deposits.
Successful Capital Management
Estimated CET1 increased to 11.97%, significantly above the 10% strategic target, allowing for planned share repurchase of $100 million in Q4.
Environmental Services Growth
Growth in Environmental Services attributed to the new renewables team, highlighting strong results and a leading position in the niche industry.
---
CMA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CMA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 18, 2024 | $61.97 | $64.25 | +3.68% |
| Jul 19, 2024 | $55.03 | $49.26 | -10.49% |
| Apr 18, 2024 | $47.95 | $48.76 | +1.69% |
| Jan 19, 2024 | $49.64 | $49.93 | +0.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Comerica Inc. (CMA) report earnings?
Comerica Inc. (CMA) is schdueled to report earning on Jan 22, 2025, Before Open Not Confirmed.
What is Comerica Inc. (CMA) earnings time?
Comerica Inc. (CMA) earnings time is at Jan 22, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CMA EPS forecast?
CMA EPS forecast for the fiscal quarter 2024 (Q4) is $1.28.
---