Northern Trust Q2 2026: net income $792.2 million, EPS $4.23
Northern Trust's second quarter looks spectacular — $792.2 million of net income and $4.23 per diluted share — but a $525.4 million Visa gain did much of the lifting. Strip out the notable items and earnings per share still rose 40%, which is why the quarter reads as a genuine beat rather than a one-off trick. The catch: servicing fee revenue grew only 0.6% sequentially.
1 · Expected vs. Actual
Free preview belowDiluted earnings per share of $4.23 compares with $2.71 in the prior quarter and $2.13 a year ago, up 98.6%. Consensus was $2.7622, so the raw beat is enormous — but roughly $232.1 million after-tax of net notable items, about $1.26 a share, explains most of the gap. On management's own math of 40% growth excluding notable items, the clean number is nearer $2.98, which still clears consensus.
Total revenue of $2.70 billion rose 35.0% from $2.00 billion a year earlier and 22.3% above the prior quarter, though the release itself notes that excluding notable items the increase was 13%. Careful reading the data feed: it carries $1.35 billion as revenue, which is actually trust, investment and other servicing fees, a line that grew 9.6% year over year. The $2.70 billion figure is the real top line.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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