U.S. Bancorp (USB) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.116 Statements made during today's call are subject to risk and uncertainty. 00:00:04.116 -- 00:00:07.980 Factors that can materially change our current forward-looking assumptions are described 00:00:07.980 -- 00:00:13.187 on page two of today's earnings presentation, our press release, and in reports on file 00:00:13.187 -- 00:00:17.912 with the SEC. Following our prepared remarks, Gunjan and John will take any questions 00:00:17.912 -- 00:00:21.396 that you have. I will now turn the call over to Gunjan. 00:00:21.396 -- 00:00:24.140 Thank you, George, and good morning, everyone. 00:00:24.140 -- 00:00:27.655 If I could please turn your attention to slide three. 00:00:27.655 -- 00:00:33.241 In the second quarter, we reported earnings per share of $1.11 00:00:33.241 -- 00:00:36.662 on net income of $1.8 billion. 00:00:36.664 -- 00:00:42.290 Core growth across our diversified fee income businesses and continued expense 00:00:42.290 -- 00:00:47.655 discipline more than offset a lighter spread of income. 00:00:47.655 -- 00:00:53.261 We delivered strong year-over-year EPS growth as adjusted of approximately 00:00:53.261 -- 00:00:55.261 13%. 00:00:55.465 -- 00:00:58.789 Total fee revenue growth of 4.6% 00:00:58.789 -- 00:01:03.796 year-over-year reflected broad-based strength across our businesses 00:01:03.796 -- 00:01:09.002 and ongoing focus on execution and organic growth. 00:01:09.002 -- 00:01:14.890 John will discuss how we are navigating the current higher for longer interest rate environment 00:01:14.890 -- 00:01:20.057 and taking action to strategically position our balance sheet for near-term 00:01:20.057 -- 00:01:22.457 margin expansion. 00:01:22.820 -- 00:01:27.925 Notably, on an adjusted basis, we delivered 250 basis 00:01:27.925...