US Bancorp Third Quarter Earnings Near

S&P 500 (NYSE:SPY) component US Bancorp (NYSE:USB) will unveil its latest earnings on Wednesday, October 17, 2012. U.S. Bancorp is a financial holding company that provides financial services through its subsidiaries, including lending and depository services, cash management, foreign exchange and trust and investment management services.

US Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 74 cents per share, a rise of 15.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 69 cents. Between one and three months ago, the average estimate moved up. It has risen from 73 cents during the last month. For the year, analysts are projecting net income of $2.84 per share, a rise of 17.8% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 2 cents, reporting profit of 71 cents per share against a mean estimate of net income of 69 cents per share.

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A Look Back: In the second quarter, profit rose 17.6% to $1.42 billion (71 cents a share) from $1.2 billion (60 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 6.6% to $5.62 billion from $5.27 billion.

Wall St. Revenue Expectations: Analysts are projecting a rise of 8.4% in revenue from the year-earlier quarter to $5.14 billion.

Stock Price Performance: Between August 15, 2012 and October 11, 2012, the stock price had risen $1.22 (3.7%), from $33.17 to $34.39. The stock price saw one of its best stretches over the last year between June 25, 2012 and July 3, 2012, when shares rose for seven straight days, increasing 4.6% (+$1.42) over that span. It saw one of its worst periods between October 4, 2012 and October 11, 2012 when shares fell for six straight days, dropping 2.3% (-80 cents) over that span.

Key Stats:

This upcoming earnings announcement will be a chance to build on positive earnings momentum over the last three quarters. Net income rose 38.6% in the fourth quarter of the last fiscal year and 27.9% in the first quarter before increasing again in the second quarter.

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 3.7% in the third quarter of the last fiscal year, 6.5% in the fourth quarter of the last fiscal year and 7.2% in the first quarter before increasing again in the second quarter.

Analyst Ratings: There are mostly holds on the stock with 14 of 27 analysts surveyed giving that rating.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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