Categories Earnings, Finance

Northern Trust stock falls on weak Q3 results

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.

Northern Trust third quarter 2018 Earnings Infographic
Northern Trust Corporation Q3 2018 Earnings Infographic

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

Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results

Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or

NVDA Earnings: Nvidia Q3 profit jumps, beats estimates

NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues

Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance

Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top