US Bancorp (NYSE: USB) reported its first quarter 2024 earnings results today.
Total net revenue decreased 6.4% year-over-year to $6.7 billion.
Net income applicable to US Bancorp common shareholders decreased 24.1% to $1.20 billion and EPS declined 25% to $0.78 compared to last year. Adjusted EPS fell 22.4% to $0.90.
Provision for credit losses was $553 million, compared to $427 million in the same period last year.
Total net charge-offs were $488 million, compared to $373 million last year.
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Prior performance
