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Community Bank System Inc. Q1 adjusted earnings Beat Estimates

Community Bank System Inc. (CBU) announced a profit for its first quarter that increased from last year.

The company's profit came in at $41.95 million, or $0.80 per share. This compares with $40.11 million, or $0.78 per share, in last year's first quarter.

Excluding items, Community Bank System Inc. reported adjusted earnings of $44.64 million or $0.85 per share for the period.

Analysts had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Community Bank System Inc. earnings at a glance:

-Earnings (Q1): $44.64 Mln. vs. $42.21 Mln. last year.
-EPS (Q1): $0.85 vs. $0.82 last year.
-Analysts Estimate: $0.76

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