U.S. Bancorp (USB) Tops Q3 EPS by 1c

U.S. Bancorp (NYSE: USB) reported Q3 EPS of $1.06, $0.01 better than the analyst estimate of $1.05.

“Strong underlying momentum in each of our business lines drove record revenue, net income and EPS this quarter. We remain vigilant in our expense discipline while continuing to prudently invest in our core businesses as well as in our digital and payments capabilities. In the third quarter, we expanded our commercial banking presence, launched a new digital platform to serve our small business customers and acquired new capabilities in our payments business. At the same time, our focus on optimization allowed us to deliver positive operating leverage and a best-in-class efficiency ratio, while growing our industry leading return on tangible common equity ratio to 19.9%. I am thankful for our U.S. Bank team members who work every day to put the customer in the center with the goal of delivering outstanding results for each of our stakeholders,” Andy Cecere, Chairman, President and CEO, U.S. Bancorp

For earnings history and earnings-related data on U.S. Bancorp (USB) click here.

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