US Bancorp Posts Record Quarterly Revenue, Beating Estimates

USB posted record Q2 2026 net revenue of $7.7 billion and adjusted EPS of $1.35, beating the $1.28 consensus and rising roughly 22% year over year. Deposits came in below estimates, the lone soft spot in an otherwise strong print.

Fee income rose 13.2% year over year, lifted by the newly completed BTIG acquisition, which management said generated about $98 million in its first month, BTIG's strongest month on record. Loan growth and higher net interest income underpinned the record top line.

The bank raised its 2026 revenue-growth outlook to 7% to 9%, citing momentum in payments and consumer banking. Investors will watch whether deposit softness pressures funding costs and whether BTIG's fee contribution holds through integration.

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