Annaly Capital Management, Inc. (NYSE:NLY) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET

Company Participants

Sean Kensil - Director of Investor Relations

David Finkelstein - Chief Executive Officer and Chief Investment Officer

Serena Wolfe - Chief Financial Officer

Ken Adler - Head of Mortgage Servicing Rights

Mike Fania - Head of Residential Credit

Conference Call Participants

Bose George - Keefe, Bruyette, & Woods, Inc.

Douglas Harter - Credit Suisse AG

Trevor Cranston - JMP Securities LLC

Kenneth Lee - RBC Capital Markets

Vilas Abraham - UBS

Operator

Good day, and welcome to the Annaly Capital Management Fourth Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note today's event is being recorded.

I would now like to turn the conference over to Sean Kensil, Director of Investor Relations. Please go ahead, sir.

Sean Kensil

Good morning, and welcome to the fourth quarter 2022 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 fourth quarter 2022 Investor Presentation and fourth quarter 2022 Financial Supplement, both found under the Presentation 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; and Ken Adler, Head of Mortgage Servicing Rights.

And with that, I will turn the call over to David.

David Finkelstein

Thank you, Sean. Good morning, and thank you all for joining us on our fourth quarter earnings call. Today, I'll provide an update on the market and how it impacted our performance, then discuss the macro landscape, our portfolio activity this past quarter and conclude with our outlook for each business as we begin the new year. Serena will then discuss our financial performance, and we are also joined by our other business leaders to provide additional context during Q&A.