Annaly Capital Management, Inc. (NYSE:NLY) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET

Company Participants

Sean Kensil - VP, Annaly Capital Management

David Finkelstein - CEO, CIO & Director

Serena Wolfe - CFO

Michael Fania - Deputy CIO & Head, Residential Credit

Conference Call Participants

Bose George - KBW

Trevor Cranston - JMP Securities

Douglas Harter - Crédit Suisse

Richard Shane - JPMorgan Chase & Co.

Vilas Abraham - UBS

Jason Stewart - JonesTrading Institutional Services

Operator

Good morning, and welcome to the Q1 2023 Annaly Capital Management Earnings Conference Call. [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to Sean Kensil, Director of Investor Relations. Please go ahead.

Sean Kensil

Good morning, and welcome to the First Quarter 2023 Earnings Call for Annaly Capital Management. Any forward-looking statements made during today's call are subject to certain risks and uncertainties, which are outlined in the Risk Factors section in our most recent annual and quarterly SEC filings.

Actual events and results may differ materially from these forward-looking statements. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings.

Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. We do not undertake and specifically disclaim any obligation to update or revise this information. During this call, we may present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our earnings release. Content referenced in today's call can be found in our first quarter 2023 Investor Presentation and First Quarter 2023 financial supplement, both found under the Presentations section of our website.

Please also note, this event is being recorded. Participants on this morning's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Deputy Chief Investment Officer and Head of Residential Credit; V S Srinivasan, Head of Agency; and Ken Adler, Head of Mortgage Servicing Rights. And with that, I'll turn the call over to David.

David Finkelstein

Thank you, Sean. Good morning, and thank you all for joining us on our first quarter earnings call. Today, I'll review our performance during the quarter, provide an update on the macro landscape and then discuss our portfolio activity and positioning within each business. Serena will then provide further detail on our financial performance, and we are also joined by our other business leaders who can provide additional perspective during Q&A.