NORTHERN TRUST CORP — Form 8-K

Northern Trust reported Q2 2026 net income of $792.2M (diluted EPS $4.23) vs. $421.3M ($2.13) in Q2 2025—a 88% year-over-year increase. Excluding $451.5M in pre-tax favorable notable items (primarily $525.4M Visa Exchange Offer gain, offset by $73.9M security losses and $145.6M in restructuring charges including $61.5M software dispositions and $51.0M severance), the underlying performance showed strong organic growth: trust fees +10%, net interest income +11%, revenue +13%, and EPS growth +40% on an adjusted basis. Assets under custody/administration reached $20.0T (+11% YoY). The company returned $1B to shareholders in H1 2026, raised its quarterly dividend by 10% to $0.88/share, and maintained strong capital ratios (CET1 12.2%, Tier 1 13.1%).