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Here's What Key Metrics Tell Us About U.S. Bancorp (USB) Q4 Earnings
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For the quarter ended December 2023, U.S. Bancorp (USB - Free Report) reported revenue of $6.73 billion, up 6.2% over the same period last year. EPS came in at $0.99, compared to $1.20 in the year-ago quarter.
The reported revenue represents a surprise of -1.23% over the Zacks Consensus Estimate of $6.81 billion. With the consensus EPS estimate being $0.99, the company has not delivered EPS surprise.
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 2.7% estimated by six analysts on average.
Efficiency Ratio: 75.9% compared to the 61.2% average estimate based on six analysts.
Total earning assets - Average balance: $594.24 billion versus the six-analyst average estimate of $600.28 billion.
Net charge-off as % of Average loans: 0.5% versus the five-analyst average estimate of 0.5%.
Total nonperforming assets: $1.49 billion versus $1.43 billion estimated by four analysts on average.
Total nonperforming loans: $1.45 billion versus the four-analyst average estimate of $1.39 billion.
Leverage ratio: 8.1% compared to the 8.1% average estimate based on two analysts.
Tier 1 Capital Ratio: 11.5% versus 11.4% estimated by two analysts on average.
Commercial products revenue: $326 million versus $347.32 million estimated by six analysts on average.
Other- noninterest income: $228 million versus the six-analyst average estimate of $178.70 million.
Total Noninterest Income: $2.62 billion versus $2.70 billion estimated by six analysts on average.
Mortgage banking revenue: $137 million versus $139.95 million estimated by six analysts on average.
Shares of U.S. Bancorp have returned -6.4% over the past month versus the Zacks S&P 500 composite's +1.2% 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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Here's What Key Metrics Tell Us About U.S. Bancorp (USB) Q4 Earnings
For the quarter ended December 2023, U.S. Bancorp (USB - Free Report) reported revenue of $6.73 billion, up 6.2% over the same period last year. EPS came in at $0.99, compared to $1.20 in the year-ago quarter.
The reported revenue represents a surprise of -1.23% over the Zacks Consensus Estimate of $6.81 billion. With the consensus EPS estimate being $0.99, the company has not delivered EPS surprise.
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 2.7% estimated by six analysts on average.
- Efficiency Ratio: 75.9% compared to the 61.2% average estimate based on six analysts.
- Total earning assets - Average balance: $594.24 billion versus the six-analyst average estimate of $600.28 billion.
- Net charge-off as % of Average loans: 0.5% versus the five-analyst average estimate of 0.5%.
- Total nonperforming assets: $1.49 billion versus $1.43 billion estimated by four analysts on average.
- Total nonperforming loans: $1.45 billion versus the four-analyst average estimate of $1.39 billion.
- Leverage ratio: 8.1% compared to the 8.1% average estimate based on two analysts.
- Tier 1 Capital Ratio: 11.5% versus 11.4% estimated by two analysts on average.
- Commercial products revenue: $326 million versus $347.32 million estimated by six analysts on average.
- Other- noninterest income: $228 million versus the six-analyst average estimate of $178.70 million.
- Total Noninterest Income: $2.62 billion versus $2.70 billion estimated by six analysts on average.
- Mortgage banking revenue: $137 million versus $139.95 million estimated by six analysts on average.
View all Key Company Metrics for U.S. Bancorp here>>>Shares of U.S. Bancorp have returned -6.4% over the past month versus the Zacks S&P 500 composite's +1.2% 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.