Community Bank System Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - Community Bank System Inc. (CBU) announced a profit for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $44.129 million, or $0.82 per share. This compares with $48.691 million, or $0.90 per share, in last year's third quarter.

Excluding items, Community Bank System Inc. reported adjusted earnings of $46.303 million or $0.86 per share for the period.

Analysts on average had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.1% to $175.4 million from $175.6 million last year.

Community Bank System Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $44.129 Mln. vs. $48.691 Mln. last year. -EPS (Q3): $0.82 vs. $0.90 last year. -Analyst Estimates: $0.88 -Revenue (Q3): $175.4 Mln vs. $175.6 Mln last year.