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Compared to Estimates, U.S. Bancorp (USB) Q1 Earnings: A Look at Key Metrics
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U.S. Bancorp (USB - Free Report) reported $7.14 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 28.2%. EPS of $1.16 for the same period compares to $0.99 a year ago.
The reported revenue represents a surprise of +0.15% over the Zacks Consensus Estimate of $7.13 billion. With the consensus EPS estimate being $1.13, the EPS surprise was +2.65%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 63.2% versus the seven-analyst average estimate of 60.55%.
Net interest margin (FTE): 3.1% compared to the 3.06% average estimate based on seven analysts.
Total earning assets - Average balance: $607.61 billion compared to the $610.89 billion average estimate based on seven analysts.
Net charge-off as % of Average loans: 0.39% versus 0.27% estimated by six analysts on average.
Total nonperforming assets: $1.18 billion versus $1.13 billion estimated by four analysts on average.
Total nonperforming loans: $1.14 billion versus the four-analyst average estimate of $1.09 billion.
Commercial products revenue: $334 million compared to the $270.61 million average estimate based on seven analysts.
Other- noninterest income: $159 million compared to the $226.68 million average estimate based on seven analysts.
Total Noninterest Income: $2.51 billion versus the seven-analyst average estimate of $2.54 billion.
Mortgage banking revenue: $128 million compared to the $111.22 million average estimate based on seven analysts.
Service charges: $324 million compared to the $321.23 million average estimate based on seven analysts.
Net interest income (FTE): $4.67 billion compared to the $4.60 billion average estimate based on six analysts.
Shares of U.S. Bancorp have returned -6.2% over the past month versus the Zacks S&P 500 composite's +6.2% 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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Compared to Estimates, U.S. Bancorp (USB) Q1 Earnings: A Look at Key Metrics
U.S. Bancorp (USB - Free Report) reported $7.14 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 28.2%. EPS of $1.16 for the same period compares to $0.99 a year ago.
The reported revenue represents a surprise of +0.15% over the Zacks Consensus Estimate of $7.13 billion. With the consensus EPS estimate being $1.13, the EPS surprise was +2.65%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 63.2% versus the seven-analyst average estimate of 60.55%.
- Net interest margin (FTE): 3.1% compared to the 3.06% average estimate based on seven analysts.
- Total earning assets - Average balance: $607.61 billion compared to the $610.89 billion average estimate based on seven analysts.
- Net charge-off as % of Average loans: 0.39% versus 0.27% estimated by six analysts on average.
- Total nonperforming assets: $1.18 billion versus $1.13 billion estimated by four analysts on average.
- Total nonperforming loans: $1.14 billion versus the four-analyst average estimate of $1.09 billion.
- Commercial products revenue: $334 million compared to the $270.61 million average estimate based on seven analysts.
- Other- noninterest income: $159 million compared to the $226.68 million average estimate based on seven analysts.
- Total Noninterest Income: $2.51 billion versus the seven-analyst average estimate of $2.54 billion.
- Mortgage banking revenue: $128 million compared to the $111.22 million average estimate based on seven analysts.
- Service charges: $324 million compared to the $321.23 million average estimate based on seven analysts.
- Net interest income (FTE): $4.67 billion compared to the $4.60 billion average estimate based on six analysts.
View all Key Company Metrics for U.S. Bancorp here>>>Shares of U.S. Bancorp have returned -6.2% over the past month versus the Zacks S&P 500 composite's +6.2% 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.