Comerica Incorporated (NYSE:CMA) unfold its third quarter earnings results on Tuesday 20th October 2020 before market open.
Comerica Incorporated unfold quarterly income of $ 1.44 per share, from the net interest income of $ 458.00 million
The consensus estimate are $ 0.83 income per share. The third quarter financial report outlined, earnings beat street analysts by $ 0.61 or 73.49 percent
Comerica Incorporated projected third quarter earnings outlook in a range of per share, and revenues outlook between .
On the other hand, The quarterly earnings 26.53 percent compared with the same quarter last year, at the same time revenues plummet 21.84 percent versus third quarter of last year.
Curt C. Farmer, Comerica Chairman, President and Chief Executive Officer, said, Our customers are acting prudently by conserving cash and adjusting their operations, which resulted in a reduction in loans and continued deposit growth. The allowance for credit losses remained near 2 percent of total loans, resulting in a provision of $ 5 million, and reflected lower loan balances, along with our portfolio’s stable performance and an improving, yet uncertain, economic path.
