Comerica Incorporated
0I1P.L
$86.14 2.38%
Exchange: LSE | Sector: Financial Services | Industry: Banks
Q3 2024
Published: Oct 28, 2024

Earnings Highlights

  • Revenue of $1.26B down 9.9% year-over-year
  • EPS of $1.32 decreased by 28.1% from previous year
  • Gross margin of 63.3%
  • Net income of 184.00M
  • "Despite a challenging economic landscape, our commitment to innovation and customer service has not wavered, which remains crucial for attracting business deposits." - CEO, Comerica Incorporated
0I1P.L
Comerica Incorporated

Executive Summary

In Q3 2024, Comerica Incorporated demonstrated resilience amidst economic headwinds, reporting a revenue of $1.26 billion, which reflects a slight decrease of 0.24% quarter-over-quarter (QoQ) and a more substantial decline of 9.94% year-over-year (YoY). The net income stood at $184 million, representing a 10.68% reduction from Q2 2024 and a significant 26.69% drop from Q3 2023. Despite these challenges, the bank's managing team remains optimistic, attributing some declines to market volatility and ongoing investment in technology and customer service enhancements. This report outlines the current financial metrics, management's insights, and strategic outlook as Comerica prepares for the subsequent quarters.

Key Performance Indicators

Revenue
Decreasing
1.26B
QoQ: -0.24% | YoY: -9.94%
Gross Profit
Decreasing
797.00M
63.30% margin
QoQ: -3.28% | YoY: -9.64%
Operating Income
Decreasing
235.00M
QoQ: -12.64% | YoY: -28.13%
Net Income
Decreasing
184.00M
QoQ: -10.68% | YoY: -26.69%
EPS
Decreasing
1.33
QoQ: -11.33% | YoY: -28.11%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 1,205.00 1.41 -4.5% View
Q1 2025 1,178.00 1.25 -6.1% View
Q4 2024 1,217.00 1.22 -2.4% View
Q3 2024 1,259.00 1.32 -9.9% View
Q2 2024 1,262.00 1.49 -8.4% View