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Northern Trust Corporation (NTRS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Northern Trust Corporation (NTRS - Free Report) reported revenue of $1.76 billion, down 0.7% over the same period last year. EPS came in at $1.79, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.75 billion, representing a surprise of +0.14%. The company delivered an EPS surprise of +9.82%, with the consensus EPS estimate being $1.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Northern Trust Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Balance-Total earning assets: $134.12 billion versus the three-analyst average estimate of $132.01 billion.
Net interest margin (FTE): 1.57% versus 1.58% estimated by three analysts on average.
Tier 1 Leverage Ratio: 7.4% compared to the 7.53% average estimate based on two analysts.
Asset Servicing Trust, Investment and Other Servicing Fees- Total: $621.20 million versus the two-analyst average estimate of $616.06 million. The reported number represents a year-over-year change of -3.4%.
Wealth Management Trust, Investment and Other Servicing Fees- Total: $475.10 million versus the two-analyst average estimate of $487.51 million.
Total Noninterest Income: $1.25 billion compared to the $1.25 billion average estimate based on three analysts.
Net Interest Income - FTE Adjusted: $524.60 million versus $518.88 million estimated by three analysts on average.
Foreign Exchange Trading Profits: $50.10 million versus the two-analyst average estimate of $57.28 million.
Treasury Management Fees: $7.90 million compared to the $8.49 million average estimate based on two analysts.
Trust, Investment and Other Servicing Fees: $1.10 billion versus $1.10 billion estimated by two analysts on average.
Other Operating Income: $55.20 million versus the two-analyst average estimate of $46.55 million.
Net Interest Income: $511.50 million versus $503.60 million estimated by two analysts on average.
Shares of Northern Trust Corporation have returned -2.3% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Northern Trust Corporation (NTRS) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Northern Trust Corporation (NTRS - Free Report) reported revenue of $1.76 billion, down 0.7% over the same period last year. EPS came in at $1.79, compared to $1.86 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.75 billion, representing a surprise of +0.14%. The company delivered an EPS surprise of +9.82%, with the consensus EPS estimate being $1.63.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Northern Trust Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Balance-Total earning assets: $134.12 billion versus the three-analyst average estimate of $132.01 billion.
- Net interest margin (FTE): 1.57% versus 1.58% estimated by three analysts on average.
- Tier 1 Leverage Ratio: 7.4% compared to the 7.53% average estimate based on two analysts.
- Asset Servicing Trust, Investment and Other Servicing Fees- Total: $621.20 million versus the two-analyst average estimate of $616.06 million. The reported number represents a year-over-year change of -3.4%.
- Wealth Management Trust, Investment and Other Servicing Fees- Total: $475.10 million versus the two-analyst average estimate of $487.51 million.
- Total Noninterest Income: $1.25 billion compared to the $1.25 billion average estimate based on three analysts.
- Net Interest Income - FTE Adjusted: $524.60 million versus $518.88 million estimated by three analysts on average.
- Foreign Exchange Trading Profits: $50.10 million versus the two-analyst average estimate of $57.28 million.
- Treasury Management Fees: $7.90 million compared to the $8.49 million average estimate based on two analysts.
- Trust, Investment and Other Servicing Fees: $1.10 billion versus $1.10 billion estimated by two analysts on average.
- Other Operating Income: $55.20 million versus the two-analyst average estimate of $46.55 million.
- Net Interest Income: $511.50 million versus $503.60 million estimated by two analysts on average.
View all Key Company Metrics for Northern Trust Corporation here>>>Shares of Northern Trust Corporation have returned -2.3% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.