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Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Filed after the FY2026 Q1 call day (Apr 16, 2026) through the next call day (Jul 16, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Quarter in detail
· FY2026 Q1
Macro signals
↑Enterprise Spending→Credit→Consumer Spending
U.S. Bancorp delivered Q1 EPS of $1.18 with total net revenue of $7.3B, up 4.7% year-over-year, as the positive operating leverage streak extended to seven consecutive quarters and FY2026 guidance of 4-6% revenue growth and 200bp-plus leverage was reaffirmed. Robust loan growth was led by commercial and card, and the Amazon small business partnership added a new growth vector while capital markets accelerated. The consumer deposit franchise continued strengthening and credit quality remained stable despite macro uncertainty, with CET1 at 10.8%.
Key themes
7
positive📊 company
Strong Revenue Growth With Broad-Based Momentum
Total net revenue of $7.3 billion increased 4.7% YOY; fee income grew 6.9% YOY with capital markets up nearly 30%; NII increased 4.1% YOY driven by loan growth and funding optimization.
Revenue Growth
Margin
positive📊 company
Positive Operating Leverage Streak Extends To Seven Quarters
Delivered 440 basis points of positive operating leverage; efficiency ratio improved 260 basis points YOY; seventh consecutive quarter of positive operating leverage; expense discipline becoming foundational.
MarginCost Pressure
positive📊 company
Robust Loan Growth Led By Commercial And Card
Average loans up 3.8% YOY (5.3% adjusted for prior loan sales); growth centered in credit card, commercial and CRE; full-year loan growth now expected mid-single digits, above prior 3-4% guidance.
Revenue GrowthDemand
positive📊 company
Amazon Small Business Partnership Adds Growth Vector
Amazon co-brand small business card launching Q3; approximately $1.6 billion in loans and 70,000 clients at conversion; expected to contribute $75-85 million per quarter; expands payments platform to small business.
Revenue GrowthCompetitive Dynamics
positive📊 company
Capital Markets Business Accelerating
Capital markets revenue grew nearly 30% YOY driven by new product penetration and favorable market volatility; BTIG acquisition expected to close back half of Q2, adding equities and investment banking.
Revenue GrowthM&A
positive📊 company
Consumer Deposit Franchise Strengthening
Record consumer deposits for second consecutive quarter; $7 billion YOY increase, nearly 3% growth; CD and high-cost institutional deposit reduction continuing; deposit pricing stable.
Competitive DynamicsRevenue Growth
positive📊 company
Credit Quality Stable Despite Macro Uncertainty
NPA ratio improved to 0.38%, down 3bp sequentially and 7bp YOY; NCO ratio 0.56% with 2bp seasonal increase from cards; NDFI portfolio well-structured with meaningful over-collateralization.
Can you frame to what extent any of your fee income businesses could be at risk from AI, particularly payments, and the moats you have to defend your position?
If you do elect to the ERBA or enhanced risk-based approach, is your understanding that is the 5-year phase-in going to be the overarching sort of guide?
is there any plans for U.S. Bancorp maybe to follow some of the strategies your peers are pursuing now of building out nationwide or regional-wide branches to grow these core deposits?
you do expect the margin to continue expanding, maybe expand in the second quarter and move steadily upward. And are you still on a path to that 3% sometime next year?
how much on the flex side, do you also kind of have the opportunity to just get some spending done and then set yourself up for even better results in the future?
is that how we kind of think about it as we just move forward on a regular basis, that the investment that you're making kind of and revenue-related leads you to a decently higher expense growth rate
You're saying you have credit card customer growth of 10%, but you've only had fee growth of 5%. So does that imply you expect much better fee growth ahead
FY2026 Q1 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Net margin
FY2024 Q4
$6.98B
+3.7%
$1.01
+106.1%
23.8%
FY2025 Q1
$6.93B
+3.6%
$1.03
+32.1%
24.7%
FY2025 Q2
$6.97B
+2.0%
$1.11
+14.4%
26.0%
FY2025 Q3
$7.30B
+6.8%
$1.22
+18.4%
27.4%
FY2025 Q4
$7.34B
+5.1%
$1.26
+24.8%
27.9%
FY2026 Q1Selected
$7.26B
+4.8%
$1.18
+14.6%
26.8%
FY2026 Q2
$7.69B
+10.2%
$1.35
+21.6%
28.3%
FY2026 Q3
$7.97B
+8.7%
$1.34
+9.8%
27.6%
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“We reported earnings per common share of $1.18”
Revenue
“Total net revenue of $7.3 billion increased 4.7% year-over-year”
Guidance
“We expect total net revenue growth to be in the range of 4% to 6% compared to the prior year”
Key metric
“our common equity Tier 1 capital ratio was 10.8%, or 9.3% including AOCI”
U.S. Bancorp delivered Q1 EPS of $1.18 with total net revenue of $7.3B, up 4.7% year-over-year, as the positive operating leverage streak extended to seven consecutive quarters and FY2026 guidance of 4-6% revenue growth and 200bp-plus leverage was reaffirmed.
PositiveStrong Revenue Growth With Broad-Based Momentum
PositivePositive Operating Leverage Streak Extends To Seven Quarters
PositiveRobust Loan Growth Led By Commercial And Card
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
21%company-level, not the selected quarter
GAAP revenue YoY +4.67% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base6Base 6GAAP revenue YoY +4.67% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0Bank Tier 2: GAAP total revenue +4.67%; management states 'Total net revenue of $7.3 billion increased 4.7% year-over-year.' GAAP and managed revenue growth aligned at ~4.7%, both in 3-5.99% band (base 6). No band gap.
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
USB $59.051Y +24.8%YTD +10.7%● earnings calls (score)
65.4245.47879
Oct 25Oct 26
Sources.Tellvest earnings-call sentiment score for U.S. Bancorp (USB), FY2026 Q1: 7/10. Scores: U.S. Bancorp’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: USB daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Mentions
Calendar Q1 2026
What USB said about other companies on its FY2026 Q1 call, and what other companies said about USB on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Our recently announced partnership with Amazon is significant in size and will meaningfully expand our small business reach. This partnership is unique from traditional co-brand card arrangements in anticipating a clear pathway to broader banking relationships over time.”
U.S. Bancorp's co-brand card partnership with Amazon targets Amazon's small-business base, expected to add ~$1.6B loans and $75-85M/quarter revenue.
+
EPS+1EPS +1No-OI bank (files no us-gaap OperatingIncomeLoss). Per runbook OI trust gate 3d the GAAP EPS/NI-vs-revenue spread and the vendor-reconstructed OI are both inadmissible operating anchors, they sit below the credit provision, which ROSE YoY ($537M→$576M, +7.3%), so net income was not provision-flattered but the anchor must still be PPNR. Admissible anchor: pre-provision net revenue. Management stated +440bp adjusted positive operating leverage YoY and a 260bp efficiency-ratio improvement (60.8%. 2%). Derived directly from the 1Q26 8-K income statement (taxable-equivalent, $M): PPNR = total net revenue − noninterest expense = 7,288 − 4,265 = 3,023 vs 1Q25 (6,958 − 4,232 = 2,726) → PPNR YoY +10.89%; revenue YoY +4.74% → operating leverage (ppnr_yoy − revenue YoY) = +6.15 percentage points (≥ +5 percentage points). Independent cross-check via the efficiency-ratio identity k/(1−k)×OL = 0.608/0.392 × 3.96 percentage points GAAP OL = +6.14 percentage points, agrees.
+
Guidance0Guidance 0FY2026 guidance maintained at 4-6% total net revenue growth and 200bp+ operating leverage, 'consistent with our previous guidance.' No change to formal range.
=
Final7
How this score was built
Base6Base 6GAAP revenue YoY +4.67% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0Bank Tier 2: GAAP total revenue +4.67%; management states 'Total net revenue of $7.3 billion increased 4.7% year-over-year.' GAAP and managed revenue growth aligned at ~4.7%, both in 3-5.99% band (base 6). No band gap.+EPS+1EPS +1No-OI bank (files no us-gaap OperatingIncomeLoss). Per runbook OI trust gate 3d the GAAP EPS/NI-vs-revenue spread and the vendor-reconstructed OI are both inadmissible operating anchors, they sit below the credit provision, which ROSE YoY ($537M→$576M, +7.3%), so net income was not provision-flattered but the anchor must still be PPNR. Admissible anchor: pre-provision net revenue. Management stated +440bp adjusted positive operating leverage YoY and a 260bp efficiency-ratio improvement (60.8%. 2%). Derived directly from the 1Q26 8-K income statement (taxable-equivalent, $M): PPNR = total net revenue − noninterest expense = 7,288 − 4,265 = 3,023 vs 1Q25 (6,958 − 4,232 = 2,726) → PPNR YoY +10.89%; revenue YoY +4.74% → operating leverage (ppnr_yoy − revenue YoY) = +6.15 percentage points (≥ +5 percentage points). Independent cross-check via the efficiency-ratio identity k/(1−k)×OL = 0.608/0.392 × 3.96 percentage points GAAP OL = +6.14 percentage points, agrees.+Guidance0Guidance 0FY2026 guidance maintained at 4-6% total net revenue growth and 200bp+ operating leverage, 'consistent with our previous guidance.' No change to formal range.=Final7
Fifth Third closed the largest acquisition in its history on February 1, and the Comerica addition drove revenue to $2.9 billion, up 33% year-over-year, with adjusted net income of $734 million, up 38%
Huntington delivered an outstanding first quarter, with GAAP EPS of $0.25 and adjusted EPS of $0.37, up 9% year-over-year excluding acquisition-related expenses and other notable items
KeyCorp delivered Q1 2026 EPS of $0.44, up 33% year-over-year, with revenue growing 10% and ROTCE exceeding 13% as NIM expanded to 2.87% on track for the 3%+ year-end target
M&T Bank delivered GAAP EPS of $4.13 with NIM expanding 2 basis points to 3.71% as fixed-rate asset repricing continued, while fee income grew 13% year-over-year with broad-based strength and C&I growth reached $1.5 billion driven by middle market utilization pickup
Nu Holdings delivered record quarterly revenue of $5 billion and its highest-ever first-quarter net income of $871 million, up 41% year-over-year on an FX-neutral basis, as the customer base surpassed 135 million
Truist delivered 25% EPS growth to $1.09 with 250 basis points of operating leverage, as investment banking produced its highest quarterly revenue since 2021
Fifth Third closed the largest acquisition in its history on February 1, and the Comerica addition drove revenue to $2.9 billion, up 33% year-over-year, with adjusted net income of $734 million, up 38%
Huntington delivered an outstanding first quarter, with GAAP EPS of $0.25 and adjusted EPS of $0.37, up 9% year-over-year excluding acquisition-related expenses and other notable items
KeyCorp delivered Q1 2026 EPS of $0.44, up 33% year-over-year, with revenue growing 10% and ROTCE exceeding 13% as NIM expanded to 2.87% on track for the 3%+ year-end target
M&T Bank delivered GAAP EPS of $4.13 with NIM expanding 2 basis points to 3.71% as fixed-rate asset repricing continued, while fee income grew 13% year-over-year with broad-based strength and C&I growth reached $1.5 billion driven by middle market utilization pickup
Nu Holdings delivered record quarterly revenue of $5 billion and its highest-ever first-quarter net income of $871 million, up 41% year-over-year on an FX-neutral basis, as the customer base surpassed 135 million
Truist delivered 25% EPS growth to $1.09 with 250 basis points of operating leverage, as investment banking produced its highest quarterly revenue since 2021