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
GIS Earnings: All you need to know about General Mills’ Q2 2025 earnings results
General Mills, Inc. (NYSE: GIS) reported its second quarter 2025 earnings results today. Net sales increased 2% year-over-year to $5.2 billion. Organic sales were up 1%. Net earnings attributable to
Earnings Preview: Accenture (ACN) likely had a strong start to fiscal 2025
For Accenture plc. (NYSE: ACN), 2024 was a fruitful year marked by positive financial performance. The professional service firm effectively navigated a challenging market environment leveraging its agile business model
Signet Jewelers (SIG): Fashion remains a strong point for the jewelery retailer
Shares of Signet Jewelers Limited (NYSE: SIG) were down over 3% on Tuesday. The stock has dropped 12% over the past three months. The company faced challenges in the third
