Filing Flows › Northern Trust (NTRS) › Q2 2026
Northern Trust (NTRS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Northern Trust (NTRS) reported revenue of $2.7B for the second quarter 2026 (Q2 2026), +35% from a year earlier and +22% from the quarter before. Operating margin was 39.5%, net earnings $792M (29.4% of revenue).
Northern Trust, Q2 2026: revenue $2.7B (+35% year over year), operating margin 39.5%, net earnings $792M, operating cash flow −$64.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | +22% | +35% |
| Operating profit | $1.1B | +52% | +89% |
| Net earnings | $792M | +51% | +88% |
| Operating cash flow | −$64.9M | — | -103% |
What changed
Revenue was $2.7B in Q2 2026, up 35% year over year and up 22% from the previous quarter. Investment Management and Advisory was the largest line at 26% of revenue. Investment Management and Advisory added $0.06B year over year (up 10%), 9% of the total change.
Operating profit was $1.1B, a 39.5% margin (up 11.2 points year over year). Of the extra revenue versus Q2 2025, 71% reached operating profit, above the 28% margin then. Total costs grew 14% against revenue growth of 35%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $0.79B, up 88% year over year. The effective tax rate was 25.6%.
Operating cash flow was −$0.06B. Non-cash charges added back $0.20B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $1.1B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.09B.
Questions
What was Northern Trust's revenue in the second quarter 2026?
Northern Trust (NTRS) reported revenue of $2.7B for the second quarter 2026 (Q2 2026), +35% from a year earlier and +22% from the quarter before.
Was Northern Trust profitable in the second quarter 2026?
Operating profit was $1.1B (39.5% of revenue) and net earnings $792M.
Source: Northern Trust 10-Q on SEC EDGAR.