Filing Flows › Northern Trust (NTRS) › Q1 2026
Northern Trust (NTRS) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Northern Trust (NTRS) reported revenue of $2.2B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +4% from the quarter before. Operating margin was 31.8%, net earnings $526M (23.8% of revenue).
Northern Trust, Q1 2026: revenue $2.2B (+14% year over year), operating margin 31.8%, net earnings $526M, operating cash flow −$320M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +4% | +14% |
| Operating profit | $701M | +11% | +34% |
| Net earnings | $526M | +13% | +34% |
| Operating cash flow | −$320M | -182% | -112% |
What changed
Revenue was $2.2B in Q1 2026, up 14% year over year and up 4% from the previous quarter. Investment Management and Advisory was the largest line at 33% of revenue. Investment Management and Advisory added $0.07B year over year (up 11%), 26% of the total change.
Operating profit was $0.70B, a 31.8% margin (up 4.9 points year over year). Of the extra revenue versus Q1 2025, 67% reached operating profit, above the 27% margin then. Total costs grew 6% against revenue growth of 14%. Net earnings were $0.53B, up 34% year over year. The effective tax rate was 25.0%.
Operating cash flow was −$0.32B. Non-cash charges added back $0.20B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items used $1.1B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.33B.
Questions
What was Northern Trust's revenue in the first quarter 2026?
Northern Trust (NTRS) reported revenue of $2.2B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +4% from the quarter before.
Was Northern Trust profitable in the first quarter 2026?
Operating profit was $701M (31.8% of revenue) and net earnings $526M.
Source: Northern Trust 10-Q on SEC EDGAR.