Northern Trust (NTRS) Tops Q3 EPS by 14c

Northern Trust (NASDAQ: NTRS) reported Q3 EPS of $1.80, $0.14 better than the analyst estimate of $1.66.

CEO comments, "Northern Trust’s performance in the third quarter reflected the continued strength of our company and growth across each of our businesses. The results produced strong growth in earnings and a return on average common equity of 13.7%. Revenue grew by 10% compared to last year, as new business continued to contribute to growth in our trust, investment and other servicing fees. Net interest income also increased on a year-over-year basis for the first time since the end of 2019, driven by growth in our balance sheet in support of our clients’ liquidity needs. The quarter’s results compared to the prior year produced positive fee and total operating leverage, and solid improvements in profitability and returns, despite the persistent low interest rate environment. We achieved these results while continuing to focus on delivering exceptional services and solutions to our clients, driving efficiency, and investing for future profitable growth."

For earnings history and earnings-related data on Northern Trust (NTRS) click here.

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