Ellington Financial Inc. (NYSE:EFC) Q3 2022 Earnings Conference Call November 8, 2022 11:00 AM ET

Company Participants

Jason Frank - Deputy General Counsel and Secretary

Larry Penn - Chief Executive Officer

Mark Tecotzky - Co-Chief Investment Officer

J.R. Herlihy - Chief Financial Officer

Conference Call Participants

Bose George - KBW

Doug Harter - Credit Suisse

Trevor Cranston - JMP Securities

Eric Hagen - BTIG

Crispin Love - Piper Sandler

Operator

Please standby. Your program is about to begin. Good morning, ladies and gentleman. Thank you for standing by. Welcome to the Ellington Financial Third Quarter 2022 Earnings Conference Call. Today’s call is being recorded. [Operator Instructions]

It is now my pleasure to turn the call over to Jason Frank, Deputy General Counsel and Secretary. Sir, you may begin.

Jason Frank

Thank you. Before we start, I would like to remind everyone that certain statements made during this conference call may constitute forward looking statements within the meaning of the Safe Harbor provisions of The Private Securities Litigation Reform Act of 1995.

Forward looking statements are not historical in nature. As described under Item 1A of our annual report on Form 10-K, forward looking statements are subject to a variety of risks and uncertainties that could cause the company’s actual results to differ from its beliefs, expectations, estimates and projections.

Consequently, you should not rely on these forward looking statements as predictions of future events. Statements made during this conference call are made as of the date of this call and the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

I am joined on the call today by Larry Penn, Chief Executive Officer of Ellington Financial, Mark Tecotzky, Co-Chief Investment Officer of EFC; and J.R. Herlihy, Chief Financial Officer of EFC.

As described in our earnings press release, our third quarter earnings conference call presentation is available on our website, ellingtonfinancial.com. Management’s prepared remarks will track the presentation. Please note that any references to figures in this presentation are qualified in their entirety by the end notes at the back of the presentation.

With that, I will now turn the call over to Larry.

Larry Penn

Thanks, Jay, and good morning, everyone. As always, thank you for your time and interest in Ellington Financial. After a challenging first half of the year, July started the third quarter on a constructive note, with volatility, interest rates and most yield spreads reversing much of their second quarter increases.