Northern Trust Corporation (NTRS) reported a 26% jump in earnings for the third quarter helped by higher net interest income, a rise in foreign exchange trading income, and an increase in trust, investment and other servicing fees. However, the stock fell over 3% in the premarket as the results missed consensus estimates.
Net income jumped 26% to $374.5 million, or $1.58 per share as total revenue improved 9% to $1.48 billion.
Trust, investment and other service fees rose 8% helped by a revenue associated with acquisition and integration of UBS Asset Management’s fund administration unit in Luxembourg and Switzerland. Favorable markets and higher loan volumes too drove the fees higher.
Net interest income grew 14% on higher short-term interest rates and lower premium amortization. Assets under custody/administration increased 12% to $10.83 trillion and asset under management rose 4% to $1.17 trillion.
Provision for credit losses fell by 19% on reductions in outstanding loans and undrawn loan commitments attributable to the commercial and institutional and residential real estate portfolios.
Total stockholders equity rose 2% to $10.3 billion helped by earnings. During the quarter, the company repurchased 2.17 million shares of common stock at a total cost of $235.9 million and 6.48 million shares of common stock at a total cost of $689.7 million.
Shares of Northern Trust ended Tuesday’s regular session up 1.23% at $99.38 on the Nasdaq. The stock has risen over 8% in the past year.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,