U.S. Bancorp USB is scheduled to report second-quarter results on Jul 19, before the opening bell. The company’s quarterly earnings and revenues are likely to have improved year over year.
Before we analyze the factors that are expected to have impacted the second-quarter earnings, let’s look at U.S. Bancorp’s performance over the last few quarters.
In the last reported quarter, USB’s earnings surpassed the Zacks Consensus Estimate on increased net interest income (NII), supported by higher interest rates. However, a decline in non-interest income (largely on lower mortgage banking income) and higher expenses were headwinds. Also, the company’s credit quality deteriorated in the reported quarter.
