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Northern Trust (NTRS) Reports Q2 Earnings: What Key Metrics Have to Say
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Northern Trust Corporation (NTRS - Free Report) reported $2.72 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 54.5%. EPS of $1.78 for the same period compares to $1.79 a year ago.
The reported revenue represents a surprise of +47.05% over the Zacks Consensus Estimate of $1.85 billion. With the consensus EPS estimate being $1.75, the EPS surprise was +1.71%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 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: $135.40 billion versus $132.96 billion estimated by four analysts on average.
Net interest margin (FTE): 1.6% compared to the 1.6% average estimate based on four analysts.
Tier 1 Leverage Ratio: 8% versus the three-analyst average estimate of 8%.
Tier 1 Capital Ratio: 13.6% versus the two-analyst average estimate of 13%.
Nonaccrual Loans and Leases: $38.50 million versus $91 million estimated by two analysts on average.
Asset Servicing Trust, Investment and Other Servicing Fees- Total: $650.60 million versus the three-analyst average estimate of $657.87 million. The reported number represents a year-over-year change of +4.7%.
Wealth Management Trust, Investment and Other Servicing Fees- Total: $515.50 million versus $515.86 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.5% change.
Asset Servicing Trust, Investment and Other Servicing Fees- Securities Lending: $16.50 million compared to the $23.78 million average estimate based on two analysts. The reported number represents a change of -23.3% year over year.
Asset Servicing Trust, Investment and Other Servicing Fees- Other: $42.50 million versus $39.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.3% change.
Asset Servicing Trust, Investment and Other Servicing Fees- Custody and Fund Administration: $445.90 million compared to the $451.04 million average estimate based on two analysts. The reported number represents a change of +4.3% year over year.
Wealth Management Trust, Investment and Other Servicing Fees- Global Family Office: $98.80 million versus $97.33 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Asset Servicing Trust, Investment and Other Servicing Fees- Investment Management: $145.70 million versus $144.64 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
Shares of Northern Trust have returned +9.5% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Northern Trust (NTRS) Reports Q2 Earnings: What Key Metrics Have to Say
Northern Trust Corporation (NTRS - Free Report) reported $2.72 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 54.5%. EPS of $1.78 for the same period compares to $1.79 a year ago.
The reported revenue represents a surprise of +47.05% over the Zacks Consensus Estimate of $1.85 billion. With the consensus EPS estimate being $1.75, the EPS surprise was +1.71%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 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: $135.40 billion versus $132.96 billion estimated by four analysts on average.
- Net interest margin (FTE): 1.6% compared to the 1.6% average estimate based on four analysts.
- Tier 1 Leverage Ratio: 8% versus the three-analyst average estimate of 8%.
- Tier 1 Capital Ratio: 13.6% versus the two-analyst average estimate of 13%.
- Nonaccrual Loans and Leases: $38.50 million versus $91 million estimated by two analysts on average.
- Asset Servicing Trust, Investment and Other Servicing Fees- Total: $650.60 million versus the three-analyst average estimate of $657.87 million. The reported number represents a year-over-year change of +4.7%.
- Wealth Management Trust, Investment and Other Servicing Fees- Total: $515.50 million versus $515.86 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.5% change.
- Asset Servicing Trust, Investment and Other Servicing Fees- Securities Lending: $16.50 million compared to the $23.78 million average estimate based on two analysts. The reported number represents a change of -23.3% year over year.
- Asset Servicing Trust, Investment and Other Servicing Fees- Other: $42.50 million versus $39.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +11.3% change.
- Asset Servicing Trust, Investment and Other Servicing Fees- Custody and Fund Administration: $445.90 million compared to the $451.04 million average estimate based on two analysts. The reported number represents a change of +4.3% year over year.
- Wealth Management Trust, Investment and Other Servicing Fees- Global Family Office: $98.80 million versus $97.33 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Asset Servicing Trust, Investment and Other Servicing Fees- Investment Management: $145.70 million versus $144.64 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
View all Key Company Metrics for Northern Trust here>>>Shares of Northern Trust have returned +9.5% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.