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Northern Trust (NTRS) investor relations material
Northern Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Achieved fifth consecutive quarter of positive organic growth and operating leverage, with Q3 2025 revenue up 6% and EPS up 14% year-over-year, driven by strategic initiatives, AI-driven productivity, and robust segment performance.
Net income for Q3 2025 was $457.6 million, with diluted EPS of $2.29 and ROE at 14.8%.
Expanded Family Office Solutions, launched new fixed income ETFs, and appointed a new president.
AI and digital transformation initiatives are driving measurable productivity gains and efficiency across all business lines.
Returned 110% of earnings to shareholders year-to-date, reducing shares outstanding by 5%.
Financial highlights
Q3 2025 revenue was $2,030.9 million, up 3% year-over-year; trust, investment, and other servicing fees totaled $1.27 billion, up 6% year-over-year.
Net income reached $457.6 million; diluted EPS was $2.29; return on average common equity was 14.8%.
Net interest income (FTE) was $596.3 million, up 5% year-over-year; net interest margin at 1.70%.
Assets under custody/administration totaled $18.25 trillion, up 5% year-over-year; assets under management up 9% year-over-year.
Credit quality remains strong; $17 million credit reserve release in Q3.
Outlook and guidance
Operating expense growth expected to remain below 5% for the full year, excluding notable items and currency effects.
Full-year NII expected to grow by mid to high single digits over the prior year; NII in 2026 projected to be flat to up 1-2%, assuming up to two Fed rate cuts.
Management expects continued growth in trust and investment fees, supported by favorable markets and new business.
Committed to maintaining pre-tax margin above 30% medium-term, even with potential rate cuts.
Capital ratios are expected to remain strong, with regulatory requirements met or exceeded.
Explain Q3's negative provision for credit losses
Reconcile GFO fee decline with WM profit margin rise
Analyze segment loan/deposit trend divergence
When will AI's financial benefits be fully captured?
How does shedding non-core business impact growth?
Detail Wealth Management investment product issues.
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Next Northern Trust earnings date
Goldman Sachs U.S. Financial Services Conference10 Dec, 2025
Next Northern Trust earnings date
Goldman Sachs U.S. Financial Services Conference10 Dec, 2025
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Frequently asked questions
Northern Trust Corporation is a financial holding company that provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals. Northern Trust Corporation offers private clients a range of solutions to meet their wealth-management and financial planning needs. The Northern Trust approach to wealth management is based on helping clients develop, implement, and manage a personalized plan while using our financial expertise to provide insight and solutions.
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