This study centered on emergent bilingual (EB) students with specific reading comprehension deficits (S-RCD), that is, with poor reading comprehension despite solid word identification skills. The participants were 209 students in Grades 2 to 4, including both EBs and English monolinguals (EMs) with and without S-RCD. Mean comparisons indicated that EBs and EMs with S-RCD showed weaknesses relative to typically developing (TD) readers in oral language, word identification, inference making, and reading engagement, but not in executive functioning. Longitudinal analyses indicated that across two academic years S-RCD persisted for 41% of EBs and EMs alike. Altogether, the study extends research on EBs with S-RCD by identifying variables beyond oral language that may account for their reading comprehension difficulties and providing insight into the extent to which their reading comprehension and word identification performance levels evolve during elementary school. Furthermore, the findings point to the importance of early identification and intervention for weaknesses in reading comprehension and its component elements in both EBs and EMS.