U.S. Bancorp Earnings: USB Stock Heads 3% Lower on Disappointing Q4

U.S. Bancorp (NYSE:USB) earnings for the bank holding company’s fourth quarter of 2019 have USB stock down on Wednesday. This is due to its diluted earnings per share of 90 cents, which is well below Wall Street’s estimate of $1.08. Revenue of $5.67 billion also doesn’t help by missing analysts’ estimates of $5.78 billion.

U.S. Bancorp Earnings: USB Stock Heads 3% Lower on Disappointing Q4

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Here are some additional highlights from the most recent U.S. Bancorp earnings report.

  • Diluted EPS comes in 18.18% lower than the $1.10 from the same period of the year prior.
  • Revenue is down 2.75% when compared to the $5.83 billion in the fourth quarter of 2018.
  • The U.S. Bancorp earnings report also has net income coming in at $1.49 billion.
  • That’s a 19.89% decrease from the company’s net income of $1.86 billion during the same time last year.

Andy Cecere, Chairman, President and CEO of U.S. Bancorp, says this about the USB stock earnings.

“During the quarter, we returned $2.9 billion of earnings to shareholders through dividends and an expanded share buyback program. We remain committed to delivering best-in-class products and services and this coming year we will continue to enhance our digital capabilities aimed at improving the customer experience and making it simpler and more productive to do business with us.”

The U.S. Bancorp earnings report doesn’t include specific financial details for its 2020 outlook. Even so, we know what analysts are looking for. This includes per-share earnings of $4.41 on revenue of $23.24 billion for the year.

USB stock was down 3.04% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/01/u-s-bancorp-earnings-drop-usb-stock-lower/.

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