U.S. Bancorp Posts Record Q2 Revenue and $1.35 EPS, Closes BTIG Deal
USB sits 45% above its 52-week low of $43.46.
Summary
Record Q2 2026 revenue of $7.7 billion and EPS of $1.35, up 22% year-over-year, were fueled by broad-based loan growth, fee income momentum, and the BTIG acquisition. Credit quality improved and capital ratios stayed strong.
Key Events · Earnings and Guidance · USB
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Record Revenue and EPS Beat
Net revenue hit a record $7,712 million, with diluted EPS of $1.35—up 22% year-over-year—driven by 7.5% growth in net interest income and a 13.2% jump in fee revenue.
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BTIG Acquisition Completed
Closing on June 1, the BTIG acquisition contributed $98 million in fee revenue and $84 million in noninterest expense in its first month, enhancing capital markets capabilities.
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Strong Balance Sheet Growth
Average total loans rose 7.1% year-over-year to $405.5 billion, while average total deposits grew 2.4% to $515.1 billion, reflecting broad-based momentum.
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Improving Credit Quality
The net charge-off ratio improved to 0.53% from 0.59% a year ago, and nonperforming assets fell 19.9% to $1,346 million, signaling stabilizing credit conditions.
Analysis · USB · Finance
A standout second quarter saw U.S. Bancorp deliver record net revenue of $7.7 billion, propelling diluted EPS to $1.35—a 22% surge from the prior year. The period also captured the first month of contribution from the BTIG acquisition, which added $98 million in fee revenue and broadens the bank's capital markets reach. Credit quality strengthened, with net charge-offs declining to 0.53% of loans, while the CET1 ratio remained solid at 10.8% even as over $1 billion was returned to shareholders through dividends and buybacks. Underscoring management's confidence, the quarterly dividend was raised by 3.8% and upbeat guidance was issued for the quarters ahead.
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At the time of this filing, USB was trading at $63.01 on NYSE in the Finance sector, with a market capitalization of approximately $98.2B. The 52-week trading range was $43.46 to $63.39. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.