Thursday 14th of April 2022 03:47:19 AM

U.S. Bancorp Non-GAAP EPS of $1.09 beats by $0.15, revenue of $5.6B beats by $50M

U.S. Bancorp press release (NYSE:USB): Q1 Non-GAAP EPS of $1.09 beats by $0.15.
Revenue of $5.6B (+2.4% Y/Y) beats by $50M.
The Company’s provision for credit losses for the first quarter of 2022 was $112 million, compared with a benefit of $13 million in the fourth quarter of 2021 and a benefit of $827 million in the first quarter of 2021.
Return on average assets of 1.09% and return on average common equity of 12.7%
Common Equity Tier 1 capital ratio of 9.8% and strong levels of liquidity
Net revenue of $5,596 million including $3,200 million of net interest income and $2,396 million of noninterest income
Net charge-off ratio of 0.21% in 1Q22 compared with 0.17% in 4Q21 and 0.31% in 1Q21

USB