The Bank of New York Mellon Corporation (BK) Q4 2022 Earnings Call Transcript

The Bank of New York Mellon Corporation (NYSE:BK) Q4 2022 Results Conference Call January 13, 2023 10:00 AM ET

Company Participants

Marius Merz - Head of Investor Relations

Robin Vince - President and Chief Executive Officer

Emily Portney - Chief Financial Officer

Conference Call Participants

Brennan Hawken - UBS

Alex Blostein - Goldman Sachs

Brian Bedell - Deutsche Bank

Rob Wildhack - Bernstein

Steven Chubak - Wolfe Research

Mike Mayo - Wells Fargo

Gerard Cassidy - RBC Capital Markets

Ken Usdin - Jefferies

Michael Brown - KBW

Operator

Good morning, and welcome to the 2022 Fourth Quarter Earnings Conference Call, hosted by BNY Mellon. [Operator Instructions]

I will now turn the conference over to Marius Merz, BNY Mellon, Head of Investor Relations. Please go ahead.

Marius Merz

Thank you, operator, and good morning, everyone. Welcome to our fourth quarter 2022 earnings call.

As always, we will reference our financial highlights presentation, which can be found on the Investor Relations page of our website at bnymellon.com.

I'm joined by Robin Vince, President and Chief Executive Officer; and Emily Portney, our Chief Financial Officer. Robin will start with introductory remarks, and Emily will then take you through the earnings presentation. Following their remarks, there will be a Q&A session.

Before we begin, please note that our remarks include forward-looking statements and non-GAAP measures. Information about these statements and non-GAAP measures are available in the earnings press release, financial supplement and financial highlights presentation, all available on the Investor Relations page of our website. Forward-looking statements made on this call speak only as of today, January 13, 2023, and will not be updated.

With that, I will turn it over to Robin.

Robin Vince

Thank you, Marius. Good morning, everyone, and thank you for joining us. Before Emily takes you through our quarterly results, I'd like to make a few broader comments on our performance in 2022 and on some areas of focus for 2023.

As you can see on Page 2 of our financial highlights presentation, we reported earnings per share for the full year of $2.90, down 30% compared to the prior year, and a return on tangible common equity of 13%. Excluding the impact of notable items, we reported earnings per share of $4.59, which was up 8% year-over-year, and a return on tangible common equity of 21%, reflecting our solid underlying performance against the backdrop of a complex operating environment in 2022.