For the quarter ended September 2023, U.S. Bancorp (USB - Free Report) reported revenue of $7 billion, up 11.2% over the same period last year. EPS came in at $1.05, compared to $1.18 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.01 billion, representing a surprise of -0.15%. The company delivered an EPS surprise of +0.96%, with the consensus EPS estimate being $1.04.
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:
- Net interest margin (FTE): 2.8% versus the seven-analyst average estimate of 2.8%.
- Efficiency Ratio: 64.4% compared to the 60.4% average estimate based on seven analysts.
- Total earning assets - Average balance: $605.25 billion versus the seven-analyst average estimate of $604.57 billion.
- Net charge-off as % of Average loans: 0.4% versus the six-analyst average estimate of 0.4%.
- Total nonperforming assets: $1.31 billion versus $1.20 billion estimated by four analysts on average.
- Total nonperforming loans: $1.27 billion versus the four-analyst average estimate of $1.18 billion.
- Leverage ratio: 7.9% versus 7.9% estimated by two analysts on average.
- Tier 1 Capital Ratio: 11.2% versus 11.1% estimated by two analysts on average.
- Mortgage banking revenue: $144 million versus $150.77 million estimated by seven analysts on average.
- Commercial products revenue: $354 million versus the seven-analyst average estimate of $350.93 million.
- Net interest income (FTE): $4.27 billion compared to the $4.27 billion average estimate based on seven analysts.
- Other- noninterest income: $198 million versus $158.09 million estimated by seven analysts on average.
View all Key Company Metrics for U.S. Bancorp here>>>Shares of U.S. Bancorp have returned +0.9% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended September 2023, U.S. Bancorp (USB - Free Report) reported revenue of $7 billion, up 11.2% over the same period last year. EPS came in at $1.05, compared to $1.18 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $7.01 billion, representing a surprise of -0.15%. The company delivered an EPS surprise of +0.96%, with the consensus EPS estimate being $1.04.
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:
- Net interest margin (FTE): 2.8% versus the seven-analyst average estimate of 2.8%.
- Efficiency Ratio: 64.4% compared to the 60.4% average estimate based on seven analysts.
- Total earning assets - Average balance: $605.25 billion versus the seven-analyst average estimate of $604.57 billion.
- Net charge-off as % of Average loans: 0.4% versus the six-analyst average estimate of 0.4%.
- Total nonperforming assets: $1.31 billion versus $1.20 billion estimated by four analysts on average.
- Total nonperforming loans: $1.27 billion versus the four-analyst average estimate of $1.18 billion.
- Leverage ratio: 7.9% versus 7.9% estimated by two analysts on average.
- Tier 1 Capital Ratio: 11.2% versus 11.1% estimated by two analysts on average.
- Mortgage banking revenue: $144 million versus $150.77 million estimated by seven analysts on average.
- Commercial products revenue: $354 million versus the seven-analyst average estimate of $350.93 million.
- Net interest income (FTE): $4.27 billion compared to the $4.27 billion average estimate based on seven analysts.
- Other- noninterest income: $198 million versus $158.09 million estimated by seven analysts on average.
View all Key Company Metrics for U.S. Bancorp here>>>Shares of U.S. Bancorp have returned +0.9% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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