Comerica (CMA) Tops Q1 EPS by 8c

Comerica (NYSE: CMA) reported Q1 EPS of $1.95, $0.08 better than the analyst estimate of $1.87.

“The fourth quarter and full-year 2018 results demonstrate our ability to carefully manage loan and deposit pricing in a rising-rate environment, produce strong credit quality, successfully execute our GEAR Up initiatives, and meaningfully reduce excess capital. We also benefited from a lower tax rate due to tax reform," said Ralph W. Babb, Jr., chairman and chief executive officer. "All together, these drove a return on equity of over 16 percent for the fourth quarter. We believe we are well positioned to continue to increase our bottom line as we drive revenue growth and positive operating leverage, while achieving favorable credit metrics. In addition, we expect to maintain our robust returns, while properly managing our capital base to support growth and investment in our businesses. In summary, we remain focused on our relationship banking strategy, which we expect will continue to enhance shareholder value."

For earnings history and earnings-related data on Comerica (CMA) click here.

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