10-Q · May 4, 2026
U.S. Bancorp reported diluted EPS of $1.18 for Q1 2026, surpassing estimates of $1.14, but total revenue of $7.26 billion slightly missed expectations. Compared to the prior quarter, revenue decreased from $10.98…
Earnings analysis · 10-Q
USB earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
U.S. Bancorp reported $1.34 of EPS, 9.8% above 2025 Q3 and 1.52% above consensus, although EPS declined 0.7% sequentially. Revenue of $7.948 billion missed consensus by 0.74% and was materially below the supplied…
Read full summary
U.S. Bancorp reported $1.34 of EPS, 9.8% above 2025 Q3 and 1.52% above consensus, although EPS declined 0.7% sequentially. Revenue of $7.948 billion missed consensus by 0.74% and was materially below the supplied prior-quarter and prior-year figures of $10.92 billion and $11.01 billion, respectively. The provided filing extract contains no segment, margin, balance-sheet, cash-flow, or quantitative guidance detail, while Item 1A points back to the 2025 Form 10-K for risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.34
What stood out
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EPS up year over year
Reported EPS was $1.34, up 9.8% from $1.22 in 2025 Q3, but down 0.7% from $1.35 in 2026 Q2. EPS exceeded the $1.32 consensus estimate by 1.52%.
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Revenue missed estimates
Reported revenue was $7.948 billion, below the $8.007 billion consensus estimate by 0.74%. Based on the supplied history, revenue declined 27.2% from $10.92 billion in 2026 Q2 and 27.8% from $11.01 billion in 2025 Q3.
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Share repurchase activity disclosed
The filing incorporates information on third-quarter share repurchases from the Capital Management section, indicating capital return activity during the quarter ended September 30, 2026; the provided extract does not disclose the repurchased share count or dollar amount.
What to watch
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No updated risk-factor disclosure
No new or revised risk factors were identified in the provided filing. Item 1A directs investors to the Company's 2025 Form 10-K for the risk discussion, limiting visibility into any changes since that report.
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Incomplete operating disclosure
The filing does not provide balance-sheet, cash-flow, segment, gross-margin, or operating-margin data in the supplied extract, preventing assessment of liquidity, leverage, credit quality, and cash-generation trends. Free cash flow for the quarter is therefore not available.
Management's outlook
No quantitative revenue or EPS outlook was disclosed in the provided 10-Q text. The filing refers readers to the 2025 Form 10-K for risk factors and does not provide a forward financial outlook.
Earlier filings 4
10-K · February 23, 2026
U.S. Bancorp’s 2025 10-K emphasizes strengthened risk governance and continued capital return while documenting corporate leadership changes and technology/cybersecurity oversight. The filing shows an active $5.0…
10-Q · November 5, 2025
U.S. Bancorp reported continued top-line and margin expansion in the quarter ended September 30, 2025: revenue rose to $11.01B and diluted EPS to $1.22. Gross margin held at 66.3% and operating margin expanded to 23.0%,…
10-K · February 21, 2025
The 10-K highlights active capital return (board authorized a share repurchase program of up to $5.0 billion effective September 13, 2024) and formalizes governance, cyber and third-party risk programs. The filing…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.