Northern Trust Q3 net income $464.9M, EPS $2.22; trust fees +8% YoY

NORTHERN TRUST CORP

2024-Q3 EPS reported $7.51 revenue$3,505,600,000

Net income $464.9M ($2.22 diluted EPS) vs $327.8M ($1.49) in Q3 2023, up 42%.
Trust, investment and servicing fees rose 8% YoY to $1,196.6M on favorable markets and new business.
Net interest income (FTE) grew 21% YoY to $569.4M; net interest margin expanded 23 bps to 1.68%.
Assets under custody/administration hit $17.4T (+23% YoY); AUM $1.62T (+22% YoY).
Recorded $68.1M pre-tax gain on sale of equity investment, partially offset by Visa Class B swap expenses.

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