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U.S. Bancorp (USB) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, U.S. Bancorp (USB - Free Report) reported revenue of $6.69 billion, down 6.4% over the same period last year. EPS came in at $0.90, compared to $1.16 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.7 billion, representing a surprise of -0.16%. The company delivered an EPS surprise of +1.12%, with the consensus EPS estimate being $0.89.
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.
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: 66.4% versus the six-analyst average estimate of 62.5%.
Net interest margin (FTE): 2.7% compared to the 2.8% average estimate based on six analysts.
Total earning assets - Average balance: $596.14 billion versus the six-analyst average estimate of $593.78 billion.
Net charge-off as % of Average loans: 0.5% versus the five-analyst average estimate of 0.5%.
Total nonperforming assets: $1.79 billion versus $1.59 billion estimated by four analysts on average.
Total nonperforming loans: $1.74 billion versus $1.55 billion estimated by four analysts on average.
Tier 1 Capital Ratio: 11.6% compared to the 11.6% average estimate based on two analysts.
Leverage ratio: 8.1% compared to the 8.1% average estimate based on two analysts.
Commercial products revenue: $388 million versus $365.89 million estimated by six analysts on average.
Other- noninterest income: $134 million compared to the $141.67 million average estimate based on six analysts.
Total Noninterest Income: $2.70 billion compared to the $2.65 billion average estimate based on six analysts.
Mortgage banking revenue: $166 million versus the six-analyst average estimate of $130.11 million.
Shares of U.S. Bancorp have returned -2.9% over the past month versus the Zacks S&P 500 composite's -1.1% 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) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, U.S. Bancorp (USB - Free Report) reported revenue of $6.69 billion, down 6.4% over the same period last year. EPS came in at $0.90, compared to $1.16 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.7 billion, representing a surprise of -0.16%. The company delivered an EPS surprise of +1.12%, with the consensus EPS estimate being $0.89.
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.
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: 66.4% versus the six-analyst average estimate of 62.5%.
- Net interest margin (FTE): 2.7% compared to the 2.8% average estimate based on six analysts.
- Total earning assets - Average balance: $596.14 billion versus the six-analyst average estimate of $593.78 billion.
- Net charge-off as % of Average loans: 0.5% versus the five-analyst average estimate of 0.5%.
- Total nonperforming assets: $1.79 billion versus $1.59 billion estimated by four analysts on average.
- Total nonperforming loans: $1.74 billion versus $1.55 billion estimated by four analysts on average.
- Tier 1 Capital Ratio: 11.6% compared to the 11.6% average estimate based on two analysts.
- Leverage ratio: 8.1% compared to the 8.1% average estimate based on two analysts.
- Commercial products revenue: $388 million versus $365.89 million estimated by six analysts on average.
- Other- noninterest income: $134 million compared to the $141.67 million average estimate based on six analysts.
- Total Noninterest Income: $2.70 billion compared to the $2.65 billion average estimate based on six analysts.
- Mortgage banking revenue: $166 million versus the six-analyst average estimate of $130.11 million.
View all Key Company Metrics for U.S. Bancorp here>>>Shares of U.S. Bancorp have returned -2.9% over the past month versus the Zacks S&P 500 composite's -1.1% 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.