Financial services company Comerica Incorporated (NYSE: CMA) reported a decrease in net interest income and adjusted earnings for the third quarter of 2024.
- The company reported third-quarter earnings per share of $1.33, compared to $1.84 per share in the year-ago quarter
- Adjusted earnings dropped to $1.37 per share in the September quarter from $1.76 per share last year
- Net interest income dropped to $534 million in the three months from $601 million in the prior year
- Loans decreased by $210 million sequentially to $50.9 billion in Q3, mainly reflecting declines in National Dealer Services and Corporate Banking
- The average yield on loans decreased 8 basis points quarter-over-quarter to 6.24% during the three months, reflecting lower nonaccrual interest
- Securities increased $130 million Q-o-Q to $15.9 billion in Q3, reflecting a decrease in average unrealized losses, partially offset by pay-downs and maturities
- Third-quarter deposits increased $841 million quarter-over-quarter to $63.9 billion, with an increase in interest-bearing deposits getting partially offset by a decrease non-interest bearing deposits
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
CCL Earnings: Highlights of Carnival Corporation’s Q4 2025 results
Cruise operator Carnival Corporation & plc (NYSE: CCL) on Friday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. Earnings topped analysts' expectations. Revenues
Lamb Weston (LW) Q2 2026 Earnings: Key financials and quarterly highlights
Lamb Weston Holdings, Inc. (NYSE: LW) reported its second quarter 2026 earnings results today. Net sales inched up 1% year-over-year to $1.62 billion. Net sales at constant currency remained flat.
Paychex reports higher Q2 FY26 revenue and earnings; EPS beats estimates
Paychex Inc. (NASDAQ: PAYX) on Friday reported stronger-than-expected adjusted earnings for the second quarter of fiscal 2026. Revenues grew 18% year-over-year. The Rochester-based human capital management solutions provider reported revenues
