Comerica (CMA) Misses Q1 EPS by 11c

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Comerica Reports First Quarter 2016 Net Income Of $60 Million, Or 34 Cents Per Share

April 19, 2016 6:40 AM EDT

DALLAS, April 19, 2016 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today reported first quarter 2016 net income of $60 million, compared to $116 million for the fourth quarter 2015 and $134 million for the first quarter 2015. Earnings per diluted share were 34 cents for first quarter 2016 compared to 64 cents for fourth quarter 2015 and 73 cents for first quarter 2015.

"Our first quarter results were impacted by the current oil and gas cycle, as we significantly increased our reserve for loan losses," said Ralph W. Babb, Jr., chairman... More