U.S. Bancorp (USB) Q3 Earnings Beat Estimates

Core Viewpoint - U.S. Bancorp reported quarterly earnings of $1.03 per share, exceeding the Zacks Consensus Estimate of $1 per share, but down from $1.05 per share a year ago, indicating a slight decline in year-over-year performance [1] Financial Performance - The company achieved revenues of $6.83 billion for the quarter ended September 2024, which was 0.68% below the Zacks Consensus Estimate and down from $7 billion in the same quarter last year [1] - U.S. Bancorp has surpassed consensus EPS estimates three times over the last four quarters, while it has only topped revenue estimates once in the same period [1] Stock Performance - U.S. Bancorp shares have increased by approximately 8.6% since the beginning of the year, in contrast to the S&P 500's gain of 21.9% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.02 on revenues of $6.94 billion, and for the current fiscal year, it is $3.86 on revenues of $27.34 billion [4] - The estimate revisions trend for U.S. Bancorp is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [4] Industry Context - The Banks - Major Regional industry, to which U.S. Bancorp belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - Truist Financial Corporation, another company in the same industry, is expected to report quarterly earnings of $0.89 per share, reflecting a year-over-year increase of 6% [5]