Northern Trust Q2 net income $331.8M ($1.56 EPS) down 16% YoY; revenue flat

NORTHERN TRUST CORP

2023-Q2 EPS reported $3.07 revenue$2,159,900,000

Diluted EPS of $1.56 vs $1.86 YoY; net income fell 16% to $331.8M from $396.2M.
Trust fees of $1,096M (-4% YoY); net interest income $525M (+12% YoY).
Noninterest expense $1,332M (+9% YoY) includes $38.7M severance and $25.6M write-off.
AUC/A $14.48T (+5% YoY); AUM $1.37T (+5% YoY); return on common equity 12.4%.
Repurchased 1.36M shares at $72.91 avg; capital ratios strong (CET1 11.3%).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NORTHERN TRUST CORP reported second quarter 2023 results: revenue $1,770.2, net income $331.8 million, EPS $1.56.

Period: second quarter 2023
Revenue: $1,770.2
Net income: $331.8 million
EPS: $1.56
Result: reported results

Exact text from the filing

Fees $ 1,096.3 $ 1,063.6 $ 1,143.4 3 % (4) % Other Noninterest Income (Loss) 149.3 149.8 166.6 — (10) Net Interest Income (FTE*) 524.6 544.4 469.8 (4) 12 Total Revenue (FTE*) $ 1,770.2 $ 1,757.8 $ 1,779.8 1 % (1) % Noninterest Expense $ 1,331.9 $ 1,285.6 $ 1,223.6 4 % 9 % (Release of) Provision for Credit Losses (15.5) 15.0 4.5 N/M N/M Provision for Income Taxes

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NORTHERN TRUST CORP filing history →

Source: SEC EDGAR

accession 0000073124-23-000155

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