From Financial Modeling Prep: 2025-01-16 12:08:00

U.S. Bancorp (NYSE:USB) beat fourth-quarter expectations with adjusted earnings per share of $1.07 and revenue of $7.01 billion. Despite positive results, shares dropped over 5% due to cautious investor sentiment. Net interest income rose to $4.18 billion, with an improved efficiency ratio of 59.9%. CEO Andy Cecere highlighted balance sheet management and strong results.

For the full year 2024, U.S. Bancorp achieved adjusted net income of $6.60 billion and adjusted earnings per share of $3.98. Noninterest income, excluding securities gains, grew 3.9% year-over-year. The bank’s disciplined expense control and revenue growth contributed to 190 basis points of positive operating leverage on an adjusted basis.



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