Comerica Q2 2022 Earnings Report

Earnings per share increased 40% over first quarter 2022 due to strong revenue growth, solid expense control, and excellent credit quality, benefiting from higher interest rates, strong loan growth, and liquidity deployment.

Key Takeaways

Comerica Incorporated reported a strong second quarter in 2022, with earnings per share increasing by 40% compared to the first quarter. Revenue grew by 18%, driven by a rising rate environment and prudent actions to lock in higher rates. Loan growth was one of the highest in the company's history, with increases in nearly every business line. Credit quality was excellent, and fee income increased by 10%. The efficiency ratio improved significantly to 58%, and the return on equity was 17%.

Earnings per share increased 40% over the first quarter and revenue grew 18%.

Loan growth in the second quarter was one of the highest in the company's history, with increases in nearly every business line.

Credit quality was excellent and fee income increased 10%.

Efficiency ratio improved significantly to 58% and return on equity of 17%.