Northern Trust Q2 2023 Earnings Report
Key Takeaways
Northern Trust Corporation reported a net income of $331.8 million for the second quarter of 2023, with earnings per diluted common share at $1.56. The results include pre-tax severance-related charges of $38.7 million and a $25.6 million pre-tax charge related to the write-off of an investment in a client capability.
Second quarter net income was $331.8 million, compared to $334.6 million in the prior quarter and $396.2 million in the prior-year quarter.
Earnings per diluted common share were $1.56, compared to $1.51 in the first quarter of 2023 and $1.86 in the second quarter of 2022.
Trust fees and revenue grew compared to the prior quarter.
Expenses, excluding notable items, were well-controlled.
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Northern Trust Revenue by Segment
Forward Guidance
This release may include statements which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.