Northern Trust Corporation · NTRS · Next earnings

Northern Trust Corporation reports Wednesday, Oct 21, 2026

NTRS reports before market open with consensus EPS at $2.82 and revenue at $2.25B. Last quarter: Northern Trust Q2 Beat on EPS and Revenue, Guidance Raised on Visa Gain

Reports Before market open31 days awayDate estimated Financial Services

What the street expects

Consensus for the coming report
Consensus EPS $2.82 Calendar consensus
Consensus revenue $2.25B Calendar consensus
Report date Oct 21, 2026 Wednesday, date estimated
Session Before market open 31 days away

Where NTRS left off: FY2026 Q2

Full report

Northern Trust Q2 Beat on EPS and Revenue, Guidance Raised on Visa Gain

EPS surprise +9.6% Reported $2.97 vs $2.71
Revenue surprise +0.5% Reported $2.71B vs $2.69B
Stock move -3.5% Event window
Subsequent drift -0.6% Up to 20 sessions

Management raised full-year guidance to 9-10% revenue and net interest income growth with a 400 bps operating leverage target. This is an upward revision from the prior quarter's mid-to-high single-digit NII growth outlook. The increase incorporates the Visa exchange gain and stronger-than-expected fee income, but management explicitly flagged that the large institutional deposits supporting NII are viewed as non-recurring and could reverse in Q3.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Large institutional deposits that boosted NII are viewed as non-recurring and may reverse in Q3.
  • Potential margin compression from price pressure on liquidity products and lower-margin asset servicing lines.
  • Reliance on market-driven capital markets and FX trading flows, which could normalize after a strong quarter.

Questions analysts left open

  • Sustainability of 400 bps operating leverage in the second half of the year.
  • Impact of one-time software write-down and related expense items.
  • Future stickiness of large institutional deposits and deposit beta with potential rate hikes.
  • Margin outlook for asset servicing and effect of price compression on index mandates.
  • Potential inorganic acquisition opportunities and strategic fit.

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Recent NTRS quarters

All NTRS earnings
-3.5%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.