Follow-Up: Two US Financial Firms Report Third-Quarter Results on the Same Day: U.S. Bancorp Posts Record Revenue; PNC Net Income Rises From a Year Earlier
NEW YORK — U.S. Bancorp and PNC Financial Services Group both reported third-quarter 2026 results on October 15.
U.S. Bancorp reported record net revenue of $7.97 billion, up 8.7% year over year. GAAP diluted EPS was $1.34, compared with $1.22 a year earlier, and adjusted EPS was $1.41, above the $1.32 consensus estimate. Net income attributable to the company was $2.21 billion, compared with $2.0 billion a year earlier, an increase of about 10%. Book value per common share was $38.27, up 5.3% year over year. Capital markets revenue rose 69.3% year over year. Chairman and CEO Gunjan Kedia said the results reflect strong execution against the company's strategic priorities and better interconnectivity across the organization. The bank raised its full-year outlook and now expects fiscal 2026 net revenue growth of 8% to 9%.
PNC Financial Services Group posted third-quarter profit of $2.1 billion, or $4.97 a share, compared with $1.82 billion, or $4.35 a share, a year earlier, Dow Jones reported via Morningstar. Adjusted EPS was $5.09, above the $4.98 analyst estimate compiled by FactSet. Revenue rose 11% year over year to $6.56 billion, short of the $6.61 billion analyst estimate; net interest income climbed 15% to $4.21 billion and noninterest income rose 4% to $2.36 billion. Total loans at quarter-end were up 16% at $378.8 billion. The provision for credit losses rose to $189 million from $167 million, and profit included $36 million of integration costs tied to PNC's acquisition of FirstBank. CEO Bill Demchak said the company's push into key markets and its national expansion are driving growth, and that the company is well positioned and confident in its long-term outlook.
(Sources: AlphaStreet, October 15, 2026; Dow Jones Newswires via Morningstar, October 15, 2026)
Published by GSM · USA (original Chinese edition)
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