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U.S. Bancorp (USB) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, U.S. Bancorp (USB - Free Report) reported revenue of $6.84 billion, down 4.2% over the same period last year. EPS came in at $0.98, compared to $1.12 in the year-ago quarter.
The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $6.81 billion. With the consensus EPS estimate being $0.96, the EPS surprise was +2.08%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how U.S. Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 61% versus 61.5% estimated by six analysts on average.
Total earning assets - Average balance: $608.89 billion versus $598.46 billion estimated by six analysts on average.
Net interest margin (FTE): 2.7% versus the six-analyst average estimate of 2.7%.
Net charge-off as % of Average loans: 0.6% versus 0.6% estimated by five analysts on average.
Book value per common share: $31.80 versus $31.87 estimated by five analysts on average.
Total nonperforming assets: $1.85 billion versus $1.80 billion estimated by four analysts on average.
Total nonperforming loans: $1.81 billion versus $1.76 billion estimated by four analysts on average.
Tier 1 Capital Ratio: 11.9% versus 11.7% estimated by two analysts on average.
Leverage ratio: 8.1% versus 8.3% estimated by two analysts on average.
Commercial products revenue: $374 million versus the six-analyst average estimate of $386.85 million.
Service charges: $322 million compared to the $311.34 million average estimate based on six analysts.
Mortgage banking revenue: $190 million compared to the $166.60 million average estimate based on six analysts.
Shares of U.S. Bancorp have returned +10.2% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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U.S. Bancorp (USB) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, U.S. Bancorp (USB - Free Report) reported revenue of $6.84 billion, down 4.2% over the same period last year. EPS came in at $0.98, compared to $1.12 in the year-ago quarter.
The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $6.81 billion. With the consensus EPS estimate being $0.96, the EPS surprise was +2.08%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how U.S. Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 61% versus 61.5% estimated by six analysts on average.
- Total earning assets - Average balance: $608.89 billion versus $598.46 billion estimated by six analysts on average.
- Net interest margin (FTE): 2.7% versus the six-analyst average estimate of 2.7%.
- Net charge-off as % of Average loans: 0.6% versus 0.6% estimated by five analysts on average.
- Book value per common share: $31.80 versus $31.87 estimated by five analysts on average.
- Total nonperforming assets: $1.85 billion versus $1.80 billion estimated by four analysts on average.
- Total nonperforming loans: $1.81 billion versus $1.76 billion estimated by four analysts on average.
- Tier 1 Capital Ratio: 11.9% versus 11.7% estimated by two analysts on average.
- Leverage ratio: 8.1% versus 8.3% estimated by two analysts on average.
- Commercial products revenue: $374 million versus the six-analyst average estimate of $386.85 million.
- Service charges: $322 million compared to the $311.34 million average estimate based on six analysts.
- Mortgage banking revenue: $190 million compared to the $166.60 million average estimate based on six analysts.
View all Key Company Metrics for U.S. Bancorp here>>>Shares of U.S. Bancorp have returned +10.2% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.