Categories AlphaGraphs, Earnings, Finance
US Bancorp (USB) reports lower adj. earnings for Q2; revenue drops
Financial services company U.S. Bancorp (NYSE: USB) on Wednesday announced operating results for the second quarter of 2024, reporting a decline in revenues and adjusted net income.
Total net revenue decreased 4% from last year to $6.87 billion in the June quarter. At $31.80, book value per share was up 6% year-over-year.
Earnings, excluding special items, dropped to $0.98 per share in Q2 from $1.12 per share in the corresponding period of 2023. Net income attributable to shareholders was $1.52 billion or $0.97 per share, compared to $1.28 billion or $0.84 per share in the same period of 2023.
“All capital and liquidity ratios remain strong, and we increased our CET1 ratio by 30 basis points to end the quarter at 10.3% – a year-over-year increase of 120 basis points. As we head into the back half of this year, we are well-positioned with national scale, an interconnected business model, and superior digital capabilities, to continue our delivery of industry-leading returns over the long term,” said the bank’s CEO Andy Cecere.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
KB Home’s Q3 results expected to benefit from built-to-order model, stable demand
KB Home (NYSE: KBH) has been resilient to challenges like high mortgage rates and the inflation-induced strain on family budgets, while benefitting from the recovery in the housing market. When
Signet Jewelers (SIG) reports lower Q2 2025 sales and adj. profit
Signet Jewelers Limited (NYSE: SIG) has reported a decline in net sales and adjusted earnings for the second quarter of 2025. Same-store sales declined 3.4% during the three months. Net
Adobe reports higher Q3 revenue and earnings; results beat estimates
Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in third-quarter 2024 revenue and earnings. The results also topped expectations. Third-quarter revenues came in at $5.41 billion,
