U.S. Bancorp reports Q4 2023 adjusted EPS of $0.99; net income impacted by $734M FDIC special assessment

US BANCORP DE

2023-FY EPS reported $3.27 revenue$28,144,000,000

GAAP net income of $847M ($0.49 EPS) vs $1,523M ($0.91) in Q3; adjusted net income of $1,627M ($0.99 EPS).
Net revenue of $6,762M (reported) and $6,880M adjusted; full-year record revenue of $28.1B.
CET1 capital ratio improved to 9.9% from 9.7% in Q3; average loans up 3.6% YoY, deposits up 4.3%.
Net interest margin fell to 2.78% from 2.81% linked quarter; net charge-off ratio was 0.49%.
Quarterly dividend increased to $0.49 per share from $0.48 in prior quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

US BANCORP DE reported financial results for quarter ended December 31, 2023.

Period: quarter ended December 31, 2023
Result: reported results

Exact text from the filing

On January 17, 2024, U.S. Bancorp (the “Company”) issued a press release reporting quarter-ended December 31, 2023 results

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Source: SEC EDGAR

accession 0000036104-24-000007

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