EarningsQ2 2026 Earnings Report
MX:NTRS Q2 2026 EPS Results
Actual EPS$54.03
Consensus EPS$49.14
Beat/MissBeat by +$4.89
One Year Ago EPS$38.68
MX:NTRS Q2 2026 Revenue Results
Actual Revenue$76.62B
Expected Revenue$48.92B
Beat/MissBeat by +$27.70B
YoY Revenue Growth+17.18%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
MX:NTRS Upcoming Earnings
Northern's next earnings date is estimated for October 21, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NTRS Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong diversified revenue growth, solid profitability metrics (EPS up 40% excluding notables), meaningful operating leverage, raised guidance for NII and total revenue, robust asset and AUM growth, and an improved capital position enabling substantial shareholder returns. Offsetting these positives are several one-time notable items (including a large Visa gain that materially boosted results), restructuring and software charges, sequential deposit normalization risks, and billing/valuation-driven variability in wealth fees. Management expressed confidence in strategy execution but noted tougher second-half comparisons and some temporary revenue normalization risks.Company Guidance
Strong Quarterly Earnings and Profitability
Net income of $792.2 million, EPS of $4.23, return on average common equity of 25.9%, pre-tax income of $1.1 billion and pre-tax margin of 39.6%.
Material YoY Revenue and Fee Growth
Total revenue increased 13% year-over-year; trust, investment and servicing fees up 10% YoY; net interest income up 11% YoY; capital markets revenues up 69% YoY (including FX trading and securities commissions/trading income).
Positive Organic Fee Momentum
Eighth consecutive quarter of positive organic fee growth; eight-quarter streak demonstrates sustained client engagement and fee diversification.
Operating Leverage and Expense Discipline
Delivered over 700 basis points of operating leverage excluding notable items; total expenses up 5% YoY but non-interest expense excluding notables was down 1% sequentially, supporting margin expansion.
Raised Full-Year Financial Guidance
Updated guidance: net interest income expected to be up 9%-10% YoY (raised from mid-high single digits) and total revenue expected to grow 9%-10% YoY (raised from mid single digits); full-year operating leverage excluding notables now expected to be ~400 basis points.
Strong Capital Position and Shareholder Returns
Common equity Tier 1 ratio (standardized) 12.2% (up 20 bps), Tier 1 leverage 7.6% (up 30 bps); returned $499 million to common shareholders in the quarter and over $1 billion year-to-date; reported payout ratio 63% and excluding notable items roughly 90%-95% through H1.
Asset Base Growth and Market Share Gains
Assets under custody and administration $20 trillion (up 8% sequential, 11% YoY); assets under management $2 trillion (up 10% sequential, 16% YoY); asset servicing AUC/A for servicing clients $18.6 trillion (up 10% YoY).
Wealth Management Momentum
Wealth trust, investment and servicing fees $592 million (up 10% YoY); wealth AUM $534 billion (up 7% sequential, 14% YoY); progress expanding global family office and ultra-high-net-worth capabilities; marketing qualified leads up over 50% year-over-year in H1.
Asset Management and Liquidity Strength
NTAM saw diversified asset gathering and fifth consecutive quarter of positive ETF flows; record liquidity flows and 14th consecutive quarter of positive organic liquidity flows; investment management fees $172 million (up 10% YoY); securities lending income $29 million (up 46% YoY).
Net Interest Income and Margin Improvement
Net interest income (FTE) $683 million, up 3% sequential and 11% YoY; net interest margin (FTE) 1.81%, up 6 basis points sequentially; securities repositioning expected to add roughly $30+ million to NII annually.
Strategic Execution on AI and Employee Ownership
Company positioning AI as augmented intelligence integrated into client service, research and controls (examples: client action plan agents, horizon scanning); launched 'Invested as One' employee ownership initiative to strengthen employee alignment.
MX:NTRS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed