Northern Trust First Quarter 2024 Earnings: Misses Expectations

Northern Trust (NASDAQ:NTRS) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.66b (down 4.3% from 1Q 2023).
• Net income: US$196.1m (down 38% from 1Q 2023).
• Profit margin: 12% (down from 18% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.96 (down from US$1.51 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Northern Trust Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) also missed analyst estimates by 9.8%.

Looking ahead, revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are down 2.7% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Northern Trust's balance sheet and an in-depth analysis of the company's financial position.

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