Northern Trust Corp. (NTRS) reported first-quarter earnings allocated to common and potential common shares of $161.5 million, compared to $160.0 million prior year. Profit per share was $0.67, up from $0.66 in the first quarter of 2012. The current quarter results includes a $12.4 million write-off of certain fee receivables resulting from the correction of an accrual methodology followed in prior years, as well as restructuring and integration related charges of $1.8 million.
Consolidated revenue was $976.4 million, compared to $965.4 million prior year. Noninterest income, which represented 77% of revenue, increased 6%, to $750.3 million from $709.0 million prior year, primarily reflecting higher trust, investment and other servicing fees. Net interest income for the quarter on a fully taxable equivalent basis decreased 12%, to $233.7 million from $266.3 million prior year, primarily due to a continued decline in the net interest margin and lower average earning assets.
The company said its financial performance in the first quarter benefited from strong new business from both personal and institutional clients, as well as higher equity markets. Trust, investment and other servicing fees, which represent 65% of the company's revenue, grew 10% compared to last year and assets under custody and under management grew 9% and 13%, respectively, compared to last year.
On average, 21 analysts polled by Thomson Reuters expected the company to report profit of $0.72 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $999.81 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.