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U.S. Bancorp lifts 2026 revenue growth guidance on fee strength
U.S. Bancorp said full-year 2026 revenue growth guidance now runs 7% to 9%, and it expects net interest margin to expand through 2027 toward a 3% range.
U.S. Bancorp reported record Q2 2026 net revenue of $7.7 billion, driven by a shift toward a more diversified, fee-heavy business mix, according to a summary of the company’s earnings call compiled by Yahoo Finance.
The company pointed to the integration of BTIG, saying it bolstered capital markets capabilities, contributing $98 million in its first month and outpacing initial expectations. Management also attributed strength in operating leverage to disciplined expense management alongside accelerating payments and card issuing revenue.
U.S. Bancorp raised its full-year 2026 revenue growth guidance to 7% to 9%, and said it expects net interest margin to expand through 2027, targeting a 3% range, supported by fixed-asset repricing and optimized asset mix. The consumer franchise reached record deposit levels tied to the 'Bank Smartly' product suite, and the company plans to densify its branch network in high-growth markets.
Management said the Amazon Small Business Portfolio acquisition is expected to close in mid-August, contributing about $75 million to $85 million of quarterly revenue, and that guidance assumes a $160 million reserve build in Q3 related to the purchase. Yahoo Finance also noted U.S. Bancorp targeted capital markets revenue to reach 10% of total company revenue over time, while merchant processing growth slowed due to macroeconomic headwinds in Europe and an exit of certain distribution partners, and it increased annual branch investment from $200 million to $300 million.