Comerica reports Q1 EPS $1.25, consensus $1.13

Reports Q1 CET1 capital ratio 12.6%. Reports Q1 net charge-offs .21%. “Today we reported first quarter earnings per share of $1.25,” said Curtis Farmer, Comerica (CMA) chairman and CEO. “Stronger than expected noninterest-bearing balances and proactive deposit pricing strategies offset the impact of muted loan demand, contributing to net interest income outperforming our outlook for the quarter. We saw lower expenses than in fourth quarter 2024, in part due to slower business activity, and we continued to prioritize efficiency. The increase in noninterest income reflected the fourth quarter 2024 loss related to our securities repositioning. Credit quality remained a competitive strength as migration was manageable, and net charge-offs remained low. The downward shift in the rate curve drove improvements in quarter-end unrealized losses, common shareholders’ equity and tangible common equity, and our prudent approach to capital resulted in an estimated CET1 capital ratio of 12.05%, well above our 10% target. With a proven legacy of conservative capital, credit and liquidity management, we feel we are well-positioned to provide consistency and support to our customers as they navigate this dynamic environment.”