U.s. Bancorp Stock Earnings Reports

U.S. Bancorp reported a strong Q3 2025: EPS $1.22 (up 18.4% YoY) and record net revenue of $7.3B driven by broad-based fee growth and improved net interest income. The bank delivered 530 bps of positive operating leverage, a 2.75% NIM, ROA 1.17% and ROTCE 18.6%. Key strategic themes emphasized were (1) organic growth via interconnected solutions (consumer deposits, cards, payments, institutional), (2) sustained expense discipline and productivity programs that continue to free up investment dollars, and (3) payments transformation (card issuing and merchant processing) with a planned deep dive this fall. Fee revenue grew ~9.5% YoY with notable strength in impact/ environmental/affordable housing finance (augmented by the Union Bank acquisition). Credit metrics improved: NPAs 0.43% and net charge-off ratio 0.56%; card loss rates and consumer credit trends were favorable. Balance sheet highlights: ending assets $695B, average deposits $512B (consumer deposits >52% of total), average loans $379B, investment portfolio $171B (avg yield 3.26%). Guidance/forward commentary: Q4 NII expected roughly flat to Q3 (~$4.25B) with an upside bias; Q4 fee revenue ~ $3B; noninterest expense up modestly (sequentially) and positive operating leverage >200 bps for the year; management reiterated medium-term targets are being met and signaled continued focus on building capital and returning capital to shareholders over time. Management emphasized the bank’s focus on organic growth rather than M&A at this time.