Commerce Bancshares Inc. (CBSH) has reported a notable increase in its fourth-quarter earnings compared to the previous year, surpassing Wall Street expectations. The company posted a net income of $136.11 million, or $1.01 per share, up from $109.22 million, or $0.79 per share, during the same period last year. Analysts had anticipated earnings of approximately $0.94 per share, not accounting for any special items.
The company's revenue experienced a growth of 7.3%, climbing to $422.08 million from last year's $393.30 million.
Highlights of Commerce Bancshares Inc.'s GAAP earnings report include:
- Earnings of $136.11 million, up from $109.22 million the previous year
- Earnings per share (EPS) at $1.01, compared to $0.79 in the prior year
- Total revenue reaching $422.08 million, an increase from $393.30 million last year.
