Ameriprise Financial, Inc. (AMP) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

April 26, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Welcome to Q1 2022 Earnings Call. My name is Sylvia and I will be your operator for today's call. At this, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session.

I will now turn the call over to Alicia Charity. Alicia, you may begin.

Alicia Charity - Senior Vice President-IR

Thank you, Sylvia and good morning. Welcome to Ameriprise Financial's first quarter earnings call. On the call with me today are Jim Cracchiolo, Chairman and CEO; and Walter Berman, Chief Financial Officer. Following their remarks, we'd be happy to take your questions.

Turning to our earnings presentation materials that are available on our website, on slide two, you will see a discussion of forward-looking statements. Specifically, during the call, you will hear references to various non-GAAP financial measures, which we believe provide insight into the company's operations. Reconciliation of non-GAAP numbers to their respective GAAP numbers can be found in today's materials and on our website.

Some statements that we make on this call may be forward looking, reflecting management's expectations about future events and overall operating plans and performance. These forward-looking statements speak only as of todays date and involve a number of risks and uncertainties.

A sample list of factors and risks that could cause actual results to be materially different from forward-looking statements can be found in our first quarter 2022 earnings release, our 2021 Annual Report to shareholders and our 2021 10-K report. We make no obligation to publicly update or revise these forward-looking statements.

On slide three, you see our GAAP financial results at the top of the page for the first quarter. Below that, you'll see our adjusted operating results, which management believes enhances the understanding of our business by reflecting the underlying performance of our core operations and facilitates a more meaningful trend analysis. Many of the comments that management makes on the call today will focus on adjusted operating results.

And with that, I'll turn it over to Jim.

Jim Cracchiolo - Chairman and CEO

Good morning, and thanks for joining our first quarter call. I'll begin by sharing that Ameriprise delivered another good quarter and a solid start to the year. As you've seen, the economic environment remains strong, but the global equity markets are more volatile, both given the impacts of the Russian invasion Ukraine and the higher inflation that we're experiencing here in the United States, as well as globally.