Overview

* US Bancorp ( USB ) Q3 revenue of $7.329 bln beats analyst expectations

* Diluted EPS for Q3 increased 18.4% yr/yr to $1.22

* Net income for Q3 rises 16.7% yr/yr to $2.001 bln

Outlook

* Company remains confident in delivering sustainable growth and disciplined risk management

* Company sees strong asset quality and capital levels

Result Drivers

* FEE REVENUE GROWTH - Record net revenue driven by a 9.5% increase in fee revenue

* NET INTEREST INCOME - Solid growth in net interest income and margin expansion supported revenue

* EFFICIENCY IMPROVEMENT - Improved efficiency ratio contributed to profitability

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $7.32 $7.15

Revenue bln bln (11

Analysts

)

Q3 EPS $1.22

Q3 Net $2 bln

Income

Q3 Net $4.22

Interest bln

Income

Q3 CET1 10.90%

Capital

Ratio

Q3 $571 mln

Credit

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for US Bancorp ( USB ) is $54.00, about 14% above its October 15 closing price of $46.45

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)