Northern Trust Q1 net income $214.7M ($0.96 EPS), down 36% YoY; trust fees up 7%

NORTHERN TRUST CORP

2024-Q1 EPS reported $0.96 revenue$1,142,900,000

Net income $214.7M vs. $334.6M in Q1 2023; diluted EPS $0.96 vs. $1.51 YoY.
Trust, investment and other servicing fees $1,142.9M, up 7% YoY on market gains and new business.
Net interest income (FTE) $535.4M, down 2% YoY; net interest margin 1.61% vs. 1.62%.
Pre-tax loss of $189.4M on sale of AFS debt securities; $12.5M pre-tax FDIC special assessment.
Total AUC/A $16.5T, up 16% YoY; AUM $1.5T, up 13% YoY.

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 Q1 2024 results: revenue $ 1,654.1, net income $ 214.7, EPS $ 0.96.

Period: Q1 2024
Revenue: $ 1,654.1
Net income: $ 214.7
EPS: $ 0.96
Result: reported results

Exact text from the filing

FINANCIAL SUMMARY & KEY METRICS % Change Q1 2024 vs. ($ In Millions except per share data) Q1 2024 Q4 2023 Q1 2023 Q4 2023 Q1 2023 Trust, Investment and Other Servicing Fees $ 1,142.9 $ 1,090.0 $ 1,063.6 5 % 7 % Other Noninterest Income (Loss) (24.2) (27.8) 149.8 (13) N/M Net Interest Income (FTE*) 535.4 501.1 544.4 7 (2) Total Revenue (FTE*) $ 1,654.1 $ 1,563.3 $ 1,757.8 6 % (6) % Noninterest Expense $ 1,364.7 $ 1,388.5 $ 1,285.6 (2) % 6 % Provision for Credit Losses (8.5) 11.0 15.0 N/M N/M Provision for Income Taxes 75.9 32.7 109.4 133 (31) FTE Adjustment* 7.3 18.0 13.2 (59) (45) Net Income $ 214.7 $ 113.1 $ 334.6 90 % (36) % Earnings Allocated to Common and Potential Common Shares $ 196.1 $ 106.5 $ 315.2 84 % (38) % Diluted Earnings per Common Share $ 0.96 $ 0.52 $ 1.51 85 % (37) %

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1344 earnings releases filed in the last 30 days. Browse all earnings releases →

NORTHERN TRUST CORP filing history →

Source: SEC EDGAR

accession 0000073124-24-000122

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