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Dec 31, 2022
Comerica Q4 2022 Earnings Report
Reported record annual earnings per share and maintained expense discipline while supporting growth initiatives.
Key Takeaways
Comerica reported a strong Q4 2022 with net income of $350 million, or $2.58 per share. Average loans grew by $1.3 billion, and the company modestly increased reserves. Credit quality remained exceptional, and the company feels well-positioned to continue delivering superior financial results in 2023.
Net income for Q4 2022 was $350 million, or $2.58 per share.
Average loans grew by $1.3 billion, or over 2%.
Reserves were modestly increased consistent with loan growth and the softening economic outlook.
Credit quality remained exceptional.
Forward Guidance
Comerica feels well-positioned to continue to deliver superior financial results with its strong business and geographic profile, loan momentum, reduced interest rate exposure and proven credit discipline. Delivering positive operating leverage remains a priority while strategically investing to drive growth.
Positive Outlook
- Strong business and geographic profile
- Loan momentum
- Reduced interest rate exposure
- Proven credit discipline
- Commitment to deliver superior financial results
Challenges Ahead
- Softening economic outlook
- Average deposits decreased
- Expenses reflected investments in our business
- Inflationary pressures
- Economic environment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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