Northern Trust Corp
F:NT4
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Northern Trust Corp
F:NT4
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Earnings Calls
Last Earnings Call
Results: Northern Trust reported strong second quarter results, helped by a $525 million pretax gain from the Visa exchange offer and solid underlying growth across fees, NII and capital markets.
Growth: Excluding notable items, EPS rose 40% year over year, revenue rose 13%, and the company delivered over 700 basis points of operating leverage.
Outlook: Management raised full-year guidance for net interest income and total revenue, and now expects about 400 basis points of operating leverage for the year.
Wealth: Wealth management posted another solid quarter with trust fees up 10% and AUM up 14% year over year, though management said quarterly fee swings can be distorted by lags, taxes and alternative valuations.
Capital: The company returned $499 million to shareholders, raised the quarterly dividend by 10%, and said the Visa gain gives it flexibility to invest, buy back stock, or pursue inorganic opportunities.