earnings
confidence high
sentiment positive
materiality 0.80
U.S. Bancorp Q2 net income $1.6B, adjusted EPS $0.98; CET1 ratio 10.3%
US BANCORP DE
2024-Q2 EPS reported
$1.75
revenue$13,582,000,000
- Net income of $1,603M ($0.97 diluted EPS); adjusted net income $1,622M ($0.98 EPS) excluding $26M FDIC charge.
- Net interest income (taxable-equivalent) $4,052M, up 0.9% linked quarter; net interest margin 2.67%.
- Average total loans +1.0% and average total deposits +2.2% linked quarter; noninterest income +2.4% YoY.
- Adjusted efficiency ratio 60.7%; return on tangible common equity 18.6%; return on assets 0.98%.
- CET1 capital ratio improved to 10.3% from 10.0% in Q1; net charge-off ratio 0.58%.