earnings
confidence high
sentiment positive
materiality 0.70
U.S. Bancorp 3Q26: diluted EPS $1.34 (+9.8% YoY), record revenue $7.97B, net income $2.20B
US BANCORP DE
- Record net revenue of $7,970M; net interest income $4,490M (+5.6% YoY) and fee revenue up 14.9% YoY, driving 240 bps positive operating leverage.
- Net income of $2,202M, up 10.0% YoY; diluted EPS $1.34 vs $1.22; efficiency ratio improved to 55.9% and ROA was 1.25%.
- Net interest margin 2.84%, up 9 bps YoY; CET1 ratio 10.8%; average total loans +8.0% YoY to $409.5B and deposits +2.9% to $526.6B.
- Quarterly common dividend raised to $0.54 per share from $0.52; net charge-off ratio improved to 0.51% from 0.56%, provision $654M vs $571M.
- Capital markets revenue jumped to $640M from $378M a year ago; trust and investment management fees $802M vs $730M.