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AI brief of an SEC Form 8-K · Northern Trust (NTRS)

Northern Trust Q2 net income rises to $896.1 million on $878.4 million Visa gain

Positive Impact 4 of 5 earnings Written later

Northern Trust reported second-quarter 2024 net income of $896.1 million, or $4.34 per diluted share, up from $214.7 million in the first quarter and $331.8 million a year earlier. The results were driven mainly by a $878.4 million net gain from the Visa transaction, while $196.3 million of restructuring charges and other notable items partly offset it. Shareholders should note that the gain is one-time in nature and that trust fees, which rose 6% from the prior-year quarter, are the company's largest recurring revenue source.

Key points

  • Net income was $896.1 million, versus $214.7 million in Q1 2024 and $331.8 million in Q2 2023.
  • Diluted EPS was $4.34, compared with $0.96 in Q1 2024 and $1.56 in Q2 2023.
  • Visa-related net gain of $878.4 million; restructuring and other notable items totaled $196.3 million, including $85.2 million of severance-related charges and a $70.0 million charitable commitment to the Northern Trust Foundation.
  • Trust, investment and other servicing fees were $1,166.1 million, up 6% from Q2 2023. The company returned $405.1 million to common shareholders through dividends and buybacks.

The filing

CompanyNorthern Trust (NTRS)
Form8-K, current report
Filed with the SECJul 17, 2024, 7:14 AM ET
Accession number0000073124-24-000203

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 17, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.