stockrowLatest quarter
Commerce Bancshares reported revenue of $592.3 million for the third quarter of 2026, up from $543.5 million a year earlier. On the consensus measure, revenue of $494.3 million exceeded the $492.9 million estimate, while adjusted earnings per share of $1.08 exceeded the $1.07 estimate.
The company reported diluted earnings per share of $1.08, compared with $1.06 a year earlier. Commerce’s gross margin was 84.2%, compared with 82.6% a year earlier, and its operating margin was 34.2%, compared with 34.0%.
For earlier context, the company’s second-quarter filing attributed higher net interest income mainly to increased average loan balances associated with the FineMark acquisition. The filing also attributed higher second-quarter non-interest income mainly to trust fees and deposit account fees. Commerce reported free cash flow of $169.2 million in the second quarter of 2026, compared with $100.5 million a year earlier.
| Q3 FY2026 | Q3 FY2025 | Change | |
|---|---|---|---|
| Revenue | $592.3 million | $543.5 million | 8.97% |
| Diluted EPS | $1.08 | $1.06 | 1.89% |
| Gross margin | 84.2% | 82.6% | 1.6 percentage points |
| Operating margin | 34.2% | 34.0% | 0.2 percentage points |
| Free cash flow | $169.2 million | $100.5 million | 68.3% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $1.08 | $1.07 | Beat by 0.93% |
| Revenue | $494.3 million | $492.9 million | In line |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
No earnings call was available, so management’s discussion of the latest quarter cannot be reported.
Guidance
No management guidance was available for the latest quarter. For context, Commerce’s second-quarter filing said the acquisition of FineMark increased average loan balances and contributed to higher net interest income.