Filing Flows › Northern Trust (NTRS) › Q3 2026
Northern Trust (NTRS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 29, 2026
Northern Trust (NTRS) reported revenue of $2.3B for the third quarter 2026 (Q3 2026), +13% from a year earlier and -15% from the quarter before. Operating margin was 34.7%, net earnings $643M (28.0% of revenue).
Northern Trust, Q3 2026: revenue $2.3B (+13% year over year), operating margin 34.7%, net earnings $643M, operating cash flow $1.8B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | -15% | +13% |
| Operating profit | $796M | -25% | +29% |
| Net earnings | $643M | -19% | +40% |
| Operating cash flow | $1.8B | — | +247% |
| Free cash flow | $1.8B | — | +254% |
What changed
Revenue was $2.3B in Q3 2026, up 13% year over year and down 15% from the previous quarter. Investment Management and Advisory was the largest line at 32% of revenue. Investment Management and Advisory added $0.07B year over year (up 10%), 25% of the total change.
Operating profit was $0.80B, a 34.7% margin (up 4.1 points year over year). Of the extra revenue versus Q3 2025, 66% reached operating profit, above the 31% margin then. Total costs grew 7% against revenue growth of 13%. The fastest-growing cost line was Sales & marketing (+54%). Net earnings were $0.64B, up 40% year over year. The effective tax rate was 19.3%.
Operating cash flow was $1.8B (up 247% year over year), 284% of net earnings. Non-cash charges added back $0.20B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $1.0B. Capital expenditures of $0.02B left free cash flow of $1.8B.
Questions
What was Northern Trust's revenue in the third quarter 2026?
Northern Trust (NTRS) reported revenue of $2.3B for the third quarter 2026 (Q3 2026), +13% from a year earlier and -15% from the quarter before.
Was Northern Trust profitable in the third quarter 2026?
Operating profit was $796M (34.7% of revenue) and net earnings $643M.
Source: Northern Trust 10-Q on SEC EDGAR.