Michael O’Grady: We initiated significant changes to enhance and scale our operations. Our client-centric capability operating model provides a unified and consistent way of working across the company, standardizing core processes, increasing spans of control, reducing organizational layers, and empowering the broad adoption of AI-driven automation inclusive of our AI platform NT Byron. For example, the chief operating officer's organization, which encompasses more than half of our workforce, increased mana ...

Northern Trust (NasdaqGS:NTRS) Q4 2025 Earnings call January 22, 2026 09:00 AM ET Company ParticipantsEbrahim Poonawala - Managing DirectorMichael O'Grady - Chairman and CEOGlenn Schorr - Senior Managing DirectorGerard Cassidy - Managing DirectorSteven Chubak - Managing DirectorDavid Smith - VP and Banks Equity ResearchDavid Fox - CFOBetsy Graseck - Global Head of Banks and Diversified Finance ResearchJennifer Childe - Director of Investor RelationsConference Call ParticipantsNone - AnalystMike Mayo - Resea ...

Northern Trust (NasdaqGS:NTRS) Q4 2025 Earnings call January 22, 2026 09:00 AM ET Company ParticipantsEbrahim Poonawala - Managing DirectorMichael O'Grady - Chairman and CEOGlenn Schorr - Senior Managing DirectorGerard Cassidy - Managing DirectorSteven Chubak - Managing DirectorDavid Smith - VP and Banks Equity ResearchDavid Fox - CFOBetsy Graseck - Global Head of Banks and Diversified Finance ResearchJennifer Childe - Director of Investor RelationsConference Call ParticipantsNone - AnalystMike Mayo - Resea ...

Financial Data and Key Metrics Changes - In Q4 2025, net income was $466 million, with earnings per share (EPS) of $2.42 and a return on average common equity of 15.4% [15] - Trust, investment, and other servicing fees totaled $1.3 billion, reflecting a 7% year-over-year increase [15] - Net interest income increased by 14% year-over-year to $654 million, marking a record high [16] - For the full year, revenue rose by 7%, while expenses grew by 5%, resulting in a pre-tax margin of 30% and a 14.4% return on equity [24] Business Line Data and Key Metrics Changes - Wealth Management saw assets under management reach $507 billion, up 13% year-over-year, with trust fees increasing by 6% in Q4 [18] - Asset Servicing reported assets under custody and administration of $17.4 trillion, an 11% year-over-year increase, with asset servicing fees totaling $730 million, up 8% [20] - Asset Management (NTAM) maintained strong liquidity, with liquidity AUM reaching nearly $340 billion, marking the 12th consecutive quarter of positive flows [12] Market Data and Key Metrics Changes - The Global Family Office (GFO) segment achieved record new business in 2025, with international contributions up 15% [8] - Capital markets activities were robust, contributing to strong performance in asset servicing [20] - The company experienced favorable currency movements that positively impacted revenue growth by approximately 90 basis points [15] Company Strategy and Development Direction - The company is focused on its "One Northern Trust" strategy, aiming for optimized growth, productivity improvements, and enhanced resiliency [4][6] - Plans for 2026 include raising productivity targets by 10% and continuing to invest in AI-driven automation [7] - The company aims to maintain a pre-tax margin of 33% and return on equity in the mid-teens as part of its medium-term financial targets [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver consistent high performance and achieve financial targets, citing strong market conditions [4][29] - The effective tax rate is expected to remain stable at approximately 26%-26.5% in 2026 [16] - Management highlighted the importance of maintaining flexibility in expense growth while focusing on positive operating leverage [26] Other Important Information - The company returned $1.9 billion to shareholders in 2025, including a record $1.3 billion in share repurchases [5][25] - The company recorded $69 million in net unfavorable notable items in Q4, impacting overall financial results [17] Q&A Session Summary Question: Can you speak to your conviction in driving change across the organization? - Management expressed high conviction in seeing changes across the company and expects continued high performance as a result of executing the strategy [28] Question: Can you speak to what drove the lower cost on the IB side? - Management noted that the growth in non-interest-bearing deposits was influenced by seasonal factors and cash stockpiling due to the government shutdown [30] Question: What does that imply for fee growth this year? - Management anticipates mid-single-digit revenue growth for 2026, driven by strong performance in the Global Family Office segment and asset servicing [34] Question: How do you think about the split between the two businesses? - Management indicated that while asset servicing margins need improvement, wealth management has attractive margins and is expected to grow faster [55]

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分组1 - Northern Trust Corporation (NTRS) reported quarterly earnings of $2.69 per share, exceeding the Zacks Consensus Estimate of $2.37 per share, and up from $2.26 per share a year ago, representing an earnings surprise of +13.44% [1] - The company posted revenues of $2.12 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.41%, and compared to year-ago revenues of $1.96 billion [2] - Northern Trust has outperformed the S&P 500, with shares increasing about 5.7% since the beginning of the year, while the S&P 500 gained 0.4% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $2.17 on revenues of $2.07 billion, and for the current fiscal year, it is $9.58 on revenues of $8.45 billion [7] - The Zacks Industry Rank for Banks - Major Regional is currently in the top 40% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Northern Trust's Q4 2025 revenue reached $21358 million, showing an 8% increase compared to Q4 2024[25] - The company's Q4 2025 net income was $466 million, a 2% increase from Q4 2024[25] - Full-year 2025 revenue was $81149 million, a decrease of 2% compared to 2024[48] - Full-year 2025 net income was $17369 million, a decrease of 14% compared to 2024[48] - Northern Trust's Return on Equity for the full year 2025 was 144%[50] Assets and Custody - Assets under Custody/Administration (AUC/A) reached $187 trillion in both Q4 2025 and for the full year 2025, an 11% increase year-over-year[25, 48] - Assets under Management (AUM) reached $18 trillion in both Q4 2025 and for the full year 2025, a 12% increase year-over-year[25, 48] Wealth Management - Wealth Management's Assets under Management (AUM) reached $507 billion in Q4 2025, a 13% increase compared to Q4 2024[31] Asset Servicing - Asset Servicing's Assets under Custody / Administration (AUC/A) reached $17418 trillion in Q4 2025, an 11% increase compared to Q4 2024[38] Capital and Expenses - The company's CET1 Ratio stood at 126% in Q4 2025[25, 48] - Common stock repurchased amounted to $3698 million in Q4 2025 and $12735 million for the full year[25, 56]

Exhibit 99.3 https://files.reportify.cc/media/production/NTRS1d9b9ef5582f9582213f Financial Trends Fourth Quarter 2025 January 22, 2026 Please direct inquiries to: Jennifer Childe Senior Vice President, Director of Investor Relations (312) 444-3290 or jennifer.childe@ntrs.com Trace Stegeman Senior Financial Analyst, Investor Relations (312) 630-1428 or trace.stegeman@ntrs.com The historical financial results and trends reflected in this report are not indicative of future financial results and trends for No ...

Northern Trust Corporation (NASDAQ:NTRS) is expected to report increased earnings and revenues in the fourth quarter of 2025, driven by higher net interest income and increased loan demand.The company faces challenges such as elevated expenses and asset quality risks but has a history of exceeding earnings estimates.Despite concerns over financial leverage and cash flow generation, Northern Trust's stock is recognized as a top-ranked momentum stock, indicating potential market outperformance.Northern Trust ...

Key Takeaways NTRS to report Q4 results on Jan. 22, with estimates for higher earnings and revenues from a year ago.NTRS is expected to see higher NII and loan demand, supported by stabilizing funding costs.Northern Trust may see higher asset servicing fees, though expenses and non-performing assets are elevated.Northern Trust Corporation (NTRS) is scheduled to release fourth-quarter and 2025 results on Jan. 22, 2026, before market open. The company’s quarterly earnings and revenues are expected to have inc ...