>>> U.S. Bancorp beats by $0.02, reports revs in-line; guides FY25 revs in-line

U.S. Bancorp beats by $0.02, reports revs in-line; guides FY25 revs in-line (50.90)
  • Reports Q4 (Dec) earnings of $1.07 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $1.05; revenues rose 3.7% year/year to $7.01 bln vs the $7 bln FactSet Consensus.
    • Return on tangible common equity of 18.3%, return on average assets of 1.03%, and efficiency ratio of 59.9%, as adjusted for notable items
    • Positive operating leverage of 190 basis points, as adjusted for notable items
  • outlook
    • Q1
      • NII stable vs Q4
      • Positive Op leverage: 200+ bps
    • FY25
      • Co issues in-line guidance for FY25, sees FY25 revs of +3-5% yr/yr to ~$28.4-29.0 bln vs. $28.75 bln FactSet Consensus.
      • Positive Op leverage: 200+ bps