Financial Performance - Net income attributable to U.S. Bancorp for Q4 2024 was $1,663 million, up 96.5% compared to $847 million in Q4 2023[2] - Earnings per common share for Q4 2024 was $1.01, compared to $0.49 in Q4 2023, representing a growth of 106.1%[2] - Net income for Q4 2024 reached $1,273 million, compared to $1,198 million in Q3 2024, reflecting a 6.3% increase[17] - Net income attributable to U.S. Bancorp for Q4 2024 was a loss of $248 million, compared to a loss of $938 million in Q4 2023[33] Revenue and Income - Total interest income for Q4 2024 was $7,831 million, a decrease of 3.2% from Q3 2024[2] - Noninterest income increased to $2,833 million in Q4 2024, compared to $2,620 million in Q4 2023, reflecting a growth of 8.1%[2] - Total net revenue for Q4 2024 was $3,079 million, up from $3,047 million in Q3 2024, indicating a growth of 1.0%[17] - Total net revenue for Q4 2024 was a loss of $139 million, an improvement from a loss of $306 million in Q4 2023[33] Assets and Liabilities - Total assets decreased to $678,318 million in Q4 2024 from $686,469 million in Q3 2024[4] - Total assets increased to $671,907 million as of December 31, 2024, up 1.1% from $664,640 million at September 30, 2024[9] - Total assets increased to $251,871 million in Q4 2024, up from $233,707 million in Q4 2023, representing an increase of 7.8% year-over-year[34] Loans and Deposits - Total loans reached $375.655 billion, a slight increase of 0.2% compared to $372.856 billion in the previous year[5] - Total loans increased to $379,832 million in Q4 2024, up from $374,164 million in Q3 2024, representing a growth of 1.8%[15] - Total deposits were $518,309 million, a slight decrease from $521,131 million in Q3 2024[4] - Total deposits rose to $14,449 million in Q4 2024, compared to $11,735 million in Q4 2023, reflecting a growth of 23.2% year-over-year[34] Credit Quality - Provision for credit losses was $560 million in Q4 2024, up from $512 million in Q4 2023[2] - Nonperforming loans increased to $1,384 million in Q4 2024, compared to $1,359 million in Q3 2024, reflecting a rise in credit quality concerns[18] - The provision for credit losses was a benefit of $33 million in Q4 2024, compared to a provision of $66 million in Q4 2023, indicating improved credit conditions[33] Efficiency and Cost Management - The efficiency ratio improved to 61.5% in Q4 2024 from 75.9% in Q4 2023[2] - The efficiency ratio improved to 43.3% in Q4 2024 from 44.5% in Q3 2024, indicating better cost management[17] - The efficiency ratio improved to 58.2% in Q4 2024 from 60.9% in Q4 2023, indicating better cost management[29] Investment and Securities - Investment securities rose to $171.325 billion, reflecting a 5.8% increase from $161.885 billion year-over-year[6] - Investment securities averaged $171,325 million with yields of 3.14%, a decrease from 3.20% in the prior quarter[9] Other Key Metrics - The return on average assets improved to 2.50% in Q4 2024, up from 2.38% in Q3 2024, indicating enhanced profitability[17] - Noninterest income reached $1,161 million, an increase from $1,021 million in the same quarter last year, reflecting a growth of 13.7%[20] - Total average deposit balances increased to $274,569 million, up from $268,801 million year-over-year, representing a growth of 2.8%[20]

Core Viewpoint - Analysts expect U.S. Bancorp (USB) to report quarterly earnings of $1.06 per share, reflecting a year-over-year increase of 7.1% and revenues of $7.02 billion, up 4.3% from the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised 0.2% higher over the last 30 days, indicating a collective reevaluation by analysts [1][2] Key Financial Metrics - Total earning assets are projected to reach $608.85 billion, up from $594.24 billion in the same quarter last year [4] - Total nonperforming assets are expected to be $1.93 billion, compared to $1.49 billion a year ago [4] - The Efficiency Ratio is estimated at 59.7%, a significant improvement from 75.9% in the same quarter last year [5] - Total nonperforming loans are forecasted at $1.88 billion, up from $1.45 billion year-over-year [5] - The Tier 1 Capital Ratio is expected to be 12.5%, compared to 11.5% in the same quarter last year [5] - The Leverage Ratio is projected to reach 8.4%, up from 8.1% a year ago [6] Revenue Projections - Mortgage banking revenue is estimated at $155.05 million, compared to $137 million last year [6] - Other noninterest income is projected at $167.98 million, down from $228 million year-over-year [6] - Total Noninterest Income is expected to reach $2.86 billion, up from $2.62 billion last year [7] - Net interest income (FTE) is forecasted at $4.19 billion, slightly up from $4.14 billion a year ago [7] - Commercial products revenue is expected to be $383.00 million, compared to $326 million in the same quarter last year [8] - Service charges are projected at $301.95 million, down from $324 million year-over-year [8] Stock Performance - Over the past month, shares of U.S. Bancorp have returned -7.2%, while the Zacks S&P 500 composite has returned -2.2% [8] - U.S. Bancorp currently holds a Zacks Rank 2 (Buy), indicating potential outperformance in the near future [9]

Core Viewpoint - The market anticipates U.S. Bancorp (USB) will report a year-over-year increase in earnings and revenues for the quarter ended December 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - U.S. Bancorp is expected to post quarterly earnings of $1.06 per share, reflecting a year-over-year increase of +7.1% [3]. - Revenues are projected to be $7.03 billion, which is a 4.4% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 0.18% higher in the last 30 days, indicating a slight positive reassessment by analysts [4]. - The Most Accurate Estimate for U.S. Bancorp is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.43%, suggesting a bearish outlook from analysts [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with a strong predictor being a positive Earnings ESP combined with a favorable Zacks Rank [6][8]. - U.S. Bancorp currently holds a Zacks Rank of 2 (Buy), but the negative Earnings ESP complicates predictions of an earnings beat [11]. Historical Performance - In the last reported quarter, U.S. Bancorp exceeded the expected earnings of $1 per share, achieving $1.03, resulting in a surprise of +3% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Industry Comparison - The Bank of New York Mellon Corporation (BK), a peer in the banking industry, is expected to report earnings of $1.54 per share, representing a year-over-year increase of +20.3% [17]. - BK's revenues are anticipated to be $4.64 billion, up 7.7% from the previous year [17].

Core Insights - The VD70S is a versatile automotive diagnostic tool that combines Wi-Fi and USB connectivity, designed to meet the practical needs of technicians in various environments [12][17] - VDIAGTOOL emphasizes innovation and quality through in-house R&D, ensuring that their products are tailored to real-world challenges faced by automotive professionals [13][14] Product Features - The VD70S features dual connectivity options, allowing for both wireless and wired diagnostics, enhancing flexibility and reliability [2][17] - It offers over 36 high-demand maintenance functions, including DPF regeneration and ABS bleeding, which streamline routine maintenance tasks [17] - The tool supports more than 10,000 vehicle models and is regularly updated to include newer systems, ensuring comprehensive vehicle coverage [17] Company Vision and Commitment - VDIAGTOOL is dedicated to empowering technicians with advanced diagnostic tools that reflect a commitment to precision and performance [5][6] - The company aims to simplify automotive diagnostics while expanding capabilities, positioning itself as a leader in the automotive repair industry [7][12] - Established in 2018, VDIAGTOOL has quickly become a pioneer in automotive diagnostics, driven by a team with extensive industry experience [8]

U.S. Bancorp (NYSE:USB) Goldman Sachs 2024 U.S. Financial Services Conference Call December 11, 2024 9:20 AM ET Company Participants Andrew Cecere - Chairman & CEO John Stern - Senior Executive VP & CFO Conference Call Participants Richard Ramsden - Goldman Sachs Group Richard Ramsden Okay. I'm delighted to welcome our next panelists. So we have Chairman and CEO, Andy Cecere of USB; and John Stern, who's the CFO. Andy has been in the CEO position since, I think, 2017. And I think you've been at this confere ...

Dublin, Nov. 14, 2024 (GLOBE NEWSWIRE) -- The "USB Camera Controller Market: Analysis By Type, By Device Type, By Connectivity, By Application, By Region Size and Trends and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.The global USB camera controller market in 2023 stood at US$2.01 billion and is likely to reach US$4.30 billion by 2029. The global USB camera controller market is projected to grow at a CAGR of 13.53% during the forecast period of 2024-2029. These controll ...

U.S. Bancorp (NYSE:USB) BancAnalysts Association of Boston's Annual Bank Conference November 7, 2024 10:30 AM ET Company Participants John Stern - Senior Executive Vice President and Chief Financial Officer Stephen Philipson - Senior Executive Vice President and Head of Wealth, Corporate, Commercial and Institutional Banking Conference Call Participants Gerard Benson - Fidelity Gerard Benson Good morning, everyone. There we go. I'm Gerry Benson with Fidelity. And presenting today, we have U.S. Bancorp, a fi ...

Company and Industry Overview * **Company**: U.S. Bancorp (NYSE: USB), a financial services holding company with international operations and the parent company of U.S. Bank. * **Headquarters**: Minneapolis, Minnesota. * **Market Position**: Fifth largest bank in the United States with $686 billion in assets as of September 30, 2024. * **Business Model**: Diversified business model with a focus on retail banking, commercial and corporate banking, and wealth and capital markets. * **Key Segments**: * Retail banking: Serving over 13 million consumer clients. * Commercial and corporate banking: Serving nearly 1.5 million businesses. * Wealth and capital markets: Providing wealth management, investment services, and capital markets solutions. Core Business Lines and Growth Strategies * **Retail Banking**: * Strong retail presence in over half of the states in the United States. * National product set including payments ecosystem, cards, corporate cards, and commercial and corporate businesses. * Focus on capital-efficient distribution through branch network, digital capabilities, and strategic partnerships. * **Commercial and Corporate Banking**: * Strong focus on transaction-related businesses, particularly in payments ecosystem and institutional businesses. * Over 60% fee growth in transaction-related businesses. * Over 60% of revenue in wealth and capital markets comes from fees. * Differentiated product set and global reach. * **Wealth and Capital Markets**: * Strong growth in institutional and wealth management businesses. * Number one in market share for wealth management and investment services. * Differentiated product set and global reach. * Focus on capital markets, investment services, and wealth management. * Expansion into new product areas such as commodities and structured credit. * Leveraging interconnected approach across the bank to drive growth. Key Growth Initiatives * **Capital Markets**: * 15% CAGR growth over the past few years. * Focus on client depth, product expansion, and expanding reach. * Uptiering client relationships from participant to lead bank. * Offering comprehensive solutions to fast-growing segments such as private capital. * Expansion into new product areas such as commodities and structured credit. * **Investment Services**: * Strong scale and growth in corporate trust, fund services, institutional trust, and custody. * Focus on leveraging scale to grow market share and differentiate through high-touch service model and interconnected approach. * Expansion into private capital and global asset management. * **Wealth Management**: * Strong growth in wealth management business. * Leveraging interconnected approach across the bank to drive growth. * Expansion into new markets and leveraging existing customer base. Financial Outlook * **Net Interest Income (NII)**: Expected to remain relatively stable in the fourth quarter due to flat loan growth and offsetting effects of asset repricing and liability repricing. * **Fee Income**: Expected to grow at a mid-single-digit rate in the fourth quarter, driven by strong performance in capital markets, investment services, and wealth management. * **Overall**: U.S. Bancorp remains confident in its growth prospects and execution momentum across its diversified business lines.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each classTrading symbolsName of each exchange on which registered Common Stock, $.01 par value per share USB New York Stock Exchange Depositary Shares (each representing 1/100th interest in a share of Series A Non-Cumulative Perpetual Preferred Stock, par value $1.00) USB PrA New York Stock Exchange Depositary Shares (each repre ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...