US Bancorp Q3 2024 Earnings Report
Key Takeaways
US Bancorp reported a net income of $1,714 million and diluted earnings per share of $1.03 for Q3 2024. The results included an $89 million after-tax net securities loss, which was largely offset by lower income tax expense. Net interest income increased by 2.8% on a linked quarter basis.
Net income was $1,714 million, with diluted earnings per share at $1.03.
Net interest income increased 2.8% on a linked quarter basis.
Noninterest income, excluding net securities losses, increased due to commercial products, trust and investment management fees, payment services, and mortgage banking revenue.
CET1 capital ratio was 10.5% at the end of September 30, 2024.
US Bancorp
US Bancorp
US Bancorp Revenue by Segment
Forward Guidance
U.S. Bancorp expects positive operating leverage to expand in the fourth quarter and into 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income