U.S. Bancorp tops Q3 estimates with $2.20B net income
- U.S. Bancorp (NYSE:USB) generated third-quarter 2026 net income of $2.20 billion, delivering diluted EPS of $1.34 to beat consensus estimates.
- Total quarterly revenue reached $7.97 billion, growing 8.7% year-over-year while falling slightly below top-end analyst expectations.
- Management raised its full-year 2026 revenue growth guidance to between 8% and 9% on strong operating leverage.
U.S. Bancorp (NYSE:USB) reported third-quarter 2026 net income of $2.20 billion, delivering diluted earnings per share of $1.34 to top analyst estimates.
Diluted earnings per share increased 9.8% year-over-year from $1.22 in third-quarter 2025, beating consensus expectations of $1.32.
Total revenue for the quarter expanded 8.7% year-over-year to $7.97 billion, falling slightly short of analyst projections of $7.99 billion to $8.01 billion.
Net interest income reached $4.49 billion as net interest margin expanded to 2.84%, while noninterest fee revenue reached $3.48 billion on strength in capital markets and BTIG contributions.
Average total loans grew 8% year-over-year to $409.5 billion, while average total deposits rose 2.9% to $526.6 billion during the quarter.
Management raised its full-year 2026 revenue growth forecast to between 8% and 9% while projecting positive operating leverage of approximately 300 basis points.
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