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Dec 31, 2024
US Bancorp Q4 2024 Earnings Report
Reported a net income of $1,663 million and diluted earnings per share of $1.01, with an adjusted net income of $1,745 million and diluted earnings per share of $1.07, showcasing positive operating leverage and stable credit quality.
Key Takeaways
U.S. Bancorp reported Q4 2024 results with a net income of $1,663 million and diluted EPS of $1.01. Adjusted for notable items, net income was $1,745 million and diluted EPS was $1.07. The company saw positive operating leverage, revenue growth, and maintained a strong CET1 capital ratio of 10.6%.
Net income was $1,663 million, or $1.01 per diluted share; adjusted net income was $1,745 million, or $1.07 per diluted share.
Return on tangible common equity was 18.3%, and the efficiency ratio was 59.9%, adjusted for notable items.
Net revenue totaled $7,009 million, including $4,176 million in net interest income on a taxable-equivalent basis.
The CET1 capital ratio stood at 10.6% at the end of December 2024.
Forward Guidance
U.S. Bancorp is well positioned to deliver industry-leading returns on tangible common equity and remains confident in its strategy for future growth and its ability to deliver meaningful positive operating leverage.
Positive Outlook
- Well positioned to deliver industry-leading returns on tangible common equity.
- Confident in strategy for future growth.
- Ability to deliver meaningful positive operating leverage.
- Effective balance sheet management.
- Earning asset repricing and mix.
Challenges Ahead
- Deterioration in general business and economic conditions.
- Turbulence in domestic or global financial markets.
- Turmoil and volatility in the financial services industry.
- Increases in FDIC assessments, including due to bank failures.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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