Northern Trust Corporation (NTRS) Earnings
Northern Trust Corporation is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $2.63. NTRS has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +8.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 21, 2026 | $2.37 | $2.71 | +14.3% | $2.2B | +4.4% |
| Jan 22, 2026 | $2.37 | $2.69 | +13.5% | $3.6B | +75.3% |
| Oct 22, 2025 | $2.26 | $2.29 | +1.3% | $3.6B | +76.5% |
| Jul 23, 2025 | $2.06 | $2.13 | +3.4% | $3.6B | +83.2% |
| Apr 22, 2025 | $1.85 | $1.90 | +2.7% | $3.5B | +79.9% |
| Jan 23, 2025 | $1.96 | $2.26 | +15.3% | $2.0B | +1.9% |
| Oct 23, 2024 | $1.74 | $2.01 | +15.5% | $1.4B | -27.0% |
| Jul 17, 2024 | $1.75 | $1.78 | +1.7% | $4.6B | +150.1% |
| Apr 16, 2024 | $1.45 | $1.70 | +17.2% | $3.6B | +99.9% |
| Jan 18, 2024 | $1.33 | $1.46 | +9.8% | $3.3B | +88.6% |
| Oct 18, 2023 | $1.50 | $1.49 | -0.7% | $1.7B | -2.0% |
| Jul 19, 2023 | $1.62 | $1.56 | -3.7% | $1.8B | +0.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 21, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
AI increasingly embedded, driving efficiency, scaling knowledge, and maintaining resilience. Anchored in hyper-personalization, AI-generated alpha, and infinite scalability. Wealth management had momentum with low double-digit trust fee growth, regions delivered solid results, progress in client acquisition initiatives. Asset servicing had solid organic growth and strengthened profitability, secured new mandates, strong in alternatives and capital markets activity. Asset management made good progress with strength across liquidity, alternatives and equities, launched new ETFs and strategies, expanded third-party distribution.
Guidance
Now expect NII to grow by mid to high single digits over prior year, up from previous guide of up low to mid-single digits. Still expect to generate more than 100 basis points of positive operating leverage. Expect to return at least 100% of earnings to shareholders.
Segment performance
Wealth management: Trust fee growth of low double-digit, with GFO organic growth above average. Assets under management for wealth management clients were $498 billion at quarter end, trust, investment, and other servicing fees were $601 million, up 11% year-over-year. Pre-tax profit rose 9%, pre-tax margin flat at 37.1%. Asset servicing: Assets under custody and administration were $17.3 trillion, up 9% year-over-year. Asset servicing fees totaled $741 million, up 10% year-over-year. Pre-tax profit grew 59%, pre-tax margin expanded 740 basis points to 28.3%. Asset management: NTAM had strength across liquidity, alternatives and equities. Liquidity AUM increased to $350 billion with 13 consecutive quarters of positive flows. Launched tokenized share class for NIF Treasury Instruments portfolio. ETF momentum strong with fourth consecutive quarter of positive flows. Alternatives capabilities broadened through active fundraising.
Risks & headwinds
Potential impact from Fed balance sheet shrinkage on liquidity levels and deposit levels.
Analyst Q&A
Q: On pre-tax margin, ROE and cyclical tailwinds vs structural actions.
A: Mike Grady said strong environment lifted performance, will keep driving towards medium-term targets.
Q: Global Family Office win rate, competitive landscape, growth runway.
A: GFO is strong, international growth opportunity, relationship can expand to more offerings.
Q: Operating leverage, expense growth.
A: Expense growth driven by incentives and currency, productivity funding and flexibility in expense planning.
Q: Basel endgame proposal impact on capital deployment.
A: Too soon to tell, preliminary view net positive for RWA.
Q: Wealth producers growth, competitive market.
A: Focus on hiring revenue-generating roles, different value proposition with excellent brand and family office solutions.
Q: Deposit growth, GFO deposit ties, GSO efforts.
A: Large deposits client-driven, GFO liquidity active, GSO leverages capabilities for virtual family office.
Q: Organic growth acceleration, areas of opportunity.
A: Growth across businesses, focus on talent, scalable growth in asset servicing, distribution in asset management.
Q: Visa shares proceeds, capital management.
A: Roughly $350 post-tax, will weigh against priorities.
Q: Balance sheet, duration, higher for longer.
A: Considered deposit pricing, investment strategies, stable positioning.
Q: Margins in segments, path to medium-term targets.
A: Asset servicing aims for sustainable higher margin, wealth management emphasizes growth.
Q: Organic growth, current vs past, medium-term targets.
A: Each business has positive organic growth, target all above 3%.
Q: Wealth management central region growth driver.
A: Strong team, family office solutions rollout.
Q: Credit quality trends.
A: High credit quality, tilted toward investment grade, not exposed to high yield/private credit pressures.