Wednesday, July 25, 2012

US Bancorp Earnings Review: Record Performance!

US Bancorp reported QE June 2012 financial results on Wednesday, July 18

CEO Richard Davis was able to push earnings per share, operating income, net income, operating margin, net margin, capital ratio, and return on assets to record levels. This stellar performance solidifies US Bancorp as one of the very best large USA banks.

Metric, QoQ Change, YoY Change
Total Assets: $353.14 billion, +4%, +10%
Net Revenues: $5.01 billion, +3%, +8%
Net Income: $1.42 billion, +6%, +18%
Earnings per Share: $0.71, +6%, +18%

At QE 6-30-12 I have rated US Bancorp an "A" on a scale of A+ to G-. This is no change in the rating from the prior QE 3-31-12. The median rating is "D" and the average rating at QE 3-31-12 was "C". Financial position strength is weighted more than financial performance. The QE 3-31-12 bank ratings review is here.

U.S. Bancorp Chairman, President and Chief Executive Officer Richard K. Davis said, “I am exceptionally proud of our Company’s second quarter 2012 results, as we reported record diluted earnings per common share of $.71, an 18.3 percent increase over the prior year’s quarter and a 6.0 percent increase over the first quarter of 2012. Further, our performance metrics remained industry-leading and within the range of our long-term objectives, with a return on average assets of 1.67 percent, a return on average common equity of 16.5 percent and an efficiency ratio of 51.1 percent.


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