US Bancorp (USB)
NYSE:USB
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Earnings Data
Report Date
Jul 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.26Last Year’s EPS
1.11Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid operational momentum: double-digit EPS growth, mid-single-digit net revenue growth, robust fee income (notably capital markets), sustained positive operating leverage and strong credit metrics. Management highlighted strategic growth drivers (BTIG, Amazon, NFL partnerships), record consumer deposits and improving returns metrics while providing constructive guidance. Key headwinds include flat NIM this quarter, deposit-market competitiveness, near-term expense ramp for investments, regulatory/capital timing uncertainty tied to Category II/AOCI and execution/timing risks on strategic deals. Overall, the positives—revenue diversification, cost discipline, credit stability and visible growth initiatives—outweigh the manageable near-term and timing risks.Company Guidance
Earnings and Revenue Growth
Diluted EPS of $1.18, up ~15% year-over-year; total net revenue $7.3B, up 4.7% year-over-year.
Net Interest Income and Fee Income Expansion
Net interest income (fully taxable equivalent) increased 4.1% YoY to ~$4.3B; total fee income grew 6.9% YoY. Capital markets fees grew nearly 30% YoY and trust & institutional fees grew nearly 10% YoY, with payments momentum across segments.
Strong Operating Leverage and Efficiency Improvement
Positive operating leverage of 440 basis points in the quarter (seventh consecutive quarter of positive operating leverage); efficiency ratio improved by 260 basis points YoY. Noninterest expense ~ $4.3B, up 0.8% linked quarter while funding investments.
Solid Credit and Asset Quality Metrics
Nonperforming assets / loans & ORE ratio 0.38% (improved 3 bps Q/Q, 7 bps YoY); first-quarter net charge-off ratio 0.56% (up 2 bps sequentially, seasonal card-related); allowance for credit losses ~ $8B (2.0% of period-end loans).
Loan, Deposit and Balance Sheet Momentum
Average loans $394B, up 3.8% YoY (5.3% when adjusting for prior loan sales); average total assets +0.7% sequentially to $688B, ending assets $701B (near Category II threshold). Record consumer deposits with ~$7B YoY increase (~3% growth); noninterest-bearing deposits ~16% of total.
Returns and Capital Progress
Return on tangible common equity 17%; return on average assets 1.15%; tangible book value per share increased >15% YoY; tangible common equity up ~31% over two years. Common Equity Tier 1 ratio 10.8% (9.3% including AOCI).
Strategic Growth Initiatives (Partnerships and M&A)
Pending BTIG acquisition expected to add ~ $200M of fee revenue per quarter (back half close); Amazon small-business card partnership expected to bring an initial ~$1.6B loan balance and add approximately $75M–$85M of revenue per quarter (mostly NII) when rolling on in Q3; NFL & other co-brand initiatives to expand product reach.
Forward Guidance and Confident Outlook
Q2 guidance: NII growth (FTE) 6–7% YoY, fee revenue growth 6–7% YoY, noninterest expense growth 3–4% YoY. Full-year 2026 guidance: total net revenue growth 4–6% and positive operating leverage of 200+ basis points (BTIG excluded).
USB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
USB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 16, 2026 | $56.37 | $55.48 | -1.58% |
Jan 20, 2026 | $53.84 | $53.82 | -0.04% |
Oct 17, 2025 | $44.75 | $44.79 | +0.09% |
Jul 17, 2025 | $44.30 | $43.85 | -1.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does US Bancorp (USB) report earnings?
US Bancorp (USB) is schdueled to report earning on Jul 16, 2026, Before Open (Confirmed).
What is US Bancorp (USB) earnings time?
US Bancorp (USB) earnings time is at Jul 16, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is USB EPS forecast?
USB EPS forecast for the fiscal quarter 2026 (Q2) is 1.26.
