Filing Flows › US Bancorp (USB) › Q1 2026
US Bancorp (USB) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
US Bancorp (USB) reported revenue of $7.3B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -1% from the quarter before. Operating margin was 33.2%, net earnings $1.9B (26.7% of revenue).
US Bancorp, Q1 2026: revenue $7.3B (+5% year over year), operating margin 33.2%, net earnings $1.9B, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3B | -1% | +5% |
| Operating profit | $2.4B | -5% | +12% |
| Net earnings | $1.9B | -5% | +14% |
| Operating cash flow | $1.3B | -55% | — |
What changed
Revenue was $7.3B in Q1 2026, up 5% year over year and down 1% from the previous quarter.
Operating profit was $2.4B, a 33.2% margin (up 2.2 points year over year). Of the extra revenue versus Q1 2025, 79% reached operating profit, above the 31% margin then. Total costs grew 1% against revenue growth of 5%. The fastest-growing cost line was Sales & marketing (+19%). Net earnings were $1.9B, up 14% year over year. The effective tax rate was 19.4%.
Operating cash flow was $1.3B, 69% of net earnings. Working capital and other items used $0.61B.
Questions
What was US Bancorp's revenue in the first quarter 2026?
US Bancorp (USB) reported revenue of $7.3B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -1% from the quarter before.
Was US Bancorp profitable in the first quarter 2026?
Operating profit was $2.4B (33.2% of revenue) and net earnings $1.9B.
Source: US Bancorp 10-Q on SEC EDGAR.