Northern Trust Q1 net income $214.7M, EPS $0.96, down 36% YoY on $189M AFS loss

NORTHERN TRUST CORP

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

Net income $214.7M ($0.96 diluted EPS) vs $334.6M ($1.51) a year ago; revenue (FTE) $1,654.1M, down 6% YoY.
Trust fees $1,142.9M, up 7% YoY, driven by favorable markets and asset inflows; AUM $1.50T, up 13% YoY.
Noninterest expense $1,364.7M, up 6% YoY; includes $12.5M FDIC special assessment.
Net interest income (FTE) $535.4M, down 2% YoY; net interest margin 1.61% vs 1.62%.
Pre-tax loss of $189.4M on AFS debt securities sold in portfolio repositioning; provision benefit of $8.5M.

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 the three months ended March 31, 2024 results: revenue $1,654.1 million, net income $214.7 million, EPS $0.96.

Period: the three months ended March 31, 2024
Revenue: $1,654.1 million
Net income: $214.7 million
EPS: $0.96
Result: reported results

Exact text from the filing

Northern Trust Corporation today reported first quarter net income per diluted common share of $0.96, compared to $0.52 in the fourth quarter of 2023 and $1.51 in the first quarter of 2023. Net income was $214.7 million, compared to $113.1 million in the prior quarter and $334.6 million in the prior-year quarter.

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Source: SEC EDGAR

accession 0000073124-24-000132

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