Categories Earnings, Finance

U.S. Bancorp (NYSE: USB): Q4 2019 Earnings Snapshot

— U.S. Bancorp (NYSE: USB) reported its fourth-quarter 2019 earnings of $0.90 per share versus $1.08 per share expected.

— The results included restructuring charges including severance and certain asset impairments, and increased derivative liability related to Visa shares, from their initial public offering, previously sold by the company.

U.S. Bancorp (USB) Q4 2019 Earnings Snapshot

— Total net revenue declined by 2.8% to $5.67 billion versus $5.78 billion expected.

— Net interest income decreased by 2.9% mainly a result of the impact of the yield curve and deposit and funding mix, partially offset by higher yields on reinvestment of securities in addition to loan growth.

— Non-interest income declined by 2.5% due to lower commercial business sales volumes and a charge for increased derivative liability related to Visa shares previously sold by the company.

— Average total loans increased by 3.9% due to growth in residential mortgages, total commercial loans, credit card loans, and other retail loans.

— Average total deposits grew by 6.6% backed by wealth management and investment services, corporate and commercial banking and consumer and business banking.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top