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U.S. Bancorp (USB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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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U.S. Bancorp (USB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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.