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Comerica Incorporated  (CMA)
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    Sector  Financial    Industry Money Center Banks
   Industry Money Center Banks
   Sector  Financial
 



EARNINGS REPORT by CSIMarket

Slipped into Red, Topline Tumbles

Comerica Incorporated announced first quarter 2020 operating loss of $-86 millions

For the first quarter 2020 Comerica Incorporated slipped into loss of $-0.46 per share compare to $2.11 a year ago and eps fell from $1.85 per share from the previous quarter.
Bank_interior_By_IvoShandor_(Author)_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_Commons
Revenues fell sharply by -60.44 % to $339 millions from $857 millions in the same quarter a year ago and sequentially Revenue Tumbled by -57.73 % from $802 millions.


Revenues fell at Investment Bank -5.45%, Other -19.32%, while revenue growth was achieved at Business Bank +11.46%, Individual Bank +7.81%, Finance +-3.29%.
Individual Bank and Investment Bank provided good news for Comerica Incorporated, with; 85.71% and 50% earnings growth to $13.0 million and $21.0 million and respectively.

Profitablility of Business Bank business declined, losses in Finance segment widen to $-93.0 million and Other division plunged into deficit, from income a year ago. As a result Comerica Incorporated reported net loss of $-65.000 million, a decline compare to net earnings of $339.000 millions in the corresponding period a year ago.

Beside announcing a net loss in the first quarter 2020, Money Center Banks company, also faced declines in Interest Spread -9.43 %, Interest Margin -8.63 %.
Continuing with Comerica Incorporated's first quarter 2020 report, company pointed out increase in: Tier1 Capital Ratio 10.58 up 0.09 %, Total Capital Ratio 12.91 up 0.41 %.
Even higher expansion was registered by the Money Center Banks company in Efficiency Ratio 4.08 %.

Comerica Incorporated is expected to report next financial results on July 17, 2020.


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Other CMA's Earnings Reports

Comerica Incorporated reported fourth quarter 2019 earnings

Comerica Incorporated reported third quarter 2019 earnings

Comerica Incorporated reported second quarter 2019 earnings

             
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