Navient Corporation (NASDAQ:NAVI) Q3 2022 Earnings Conference Call October 26, 2022 8:00 AM ET

Company Participants

Jennifer Earyes - Head of Investor Relations

Jack Remondi - President & Chief Executive Officer

Joe Fisher - Executive Vice President & Chief Financial Officer

Conference Call Participants

Mark DeVries - Barclays

Bill Ryan - Seaport

Steven Kwok - KBW

Moshe Orenbuch - Credit Suisse

Rick Shane - JPMorgan

Jeff Adelson - Morgan Stanley

Courtney Bahlman - Barclays

Operator

Good day, ladies and gentlemen, thank you for standing by. And welcome to Navient Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only-mode. After the peak's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference may be recorded.

I would now like to hand the conference over to your speaker host today, Jennifer Earyes, Head of Investor Relations. Please go ahead.

Jennifer Earyes

Thank you, Olivia. Good morning, and welcome to Navient's third quarter 2022 earnings call. With me today are Jack Remondi, Navient's CEO; and Joe Fisher, Navient's CFO. After the prepared remarks, we're going to open the call up for questions.

But before we begin, keep in mind that our discussion today will contain predictions, expectations, forward-looking statements and other information about our business that is based on management's current expectations as of the date of this presentation. Actual results in the future may be materially different from those discussed here. This could be due to a variety of factors. Listeners should refer to the discussion of those factors on the company's Form 10-K and other filings with the SEC.

During this conference call, we will refer to non-GAAP financial measures, including core earnings, adjustable tangible equity ratio and various other non-GAAP financial measures that are derived from core earnings. Our GAAP results and description of our non-GAAP financial measures can be found in the third quarter 2022 supplemental earnings disclosure, which is posted on the Investors page at navient.com. There is also a full reconciliation of core earnings to GAAP results included in the disclosure. Thank you.

And now I will turn the call over to Jack.

Jack Remondi

Thanks, Jen. Good morning, everyone, and thank you for joining us today and for your interest in Navient. Our long-term goals are to create value by growing our loan origination and business processing solution franchises. To effectively and efficiently manage our cash flows from our legacy student loan portfolios and to reduce our risk. We are continuing to deliver solid results in each of these areas this quarter.