T. Rowe Price Group, Inc. (NASDAQ:TROW) Q3 2023 Earnings Conference Call October 27, 2023 8:00 AM ET

Company Participants

Linsley Carruth - Director, Investor Relations

Robert Sharps - Chief Executive Officer and President

Jen Dardis - Chief Financial Officer and Treasurer

Eric Veiel - Head of Global Equity and Chief Investment Officer

Conference Call Participants

Alexander Blostein - Goldman Sachs

Craig Siegenthaler - Bank of America

Patrick Davitt - Autonomous

Brian Bedell - Deutsche Bank

Ken Worthington - JPMorgan

Brennan Hawken - UBS

Michael Cyprys - Morgan Stanley

Glenn Schorr - Evercore ISI

Daniel Fannon - Jefferies

Finian O'Shea - Wells Fargo

Operator

Good morning. My name is Norma, and I'll be your conference facilitator today. Welcome to T. Rowe Price's Third Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode until the question-and-answer period. I will give you instructions on how to ask questions at that time. As a reminder, this call is being recorded, and will be available for replay on T. Rowe Price's website shortly after the call concludes.

I will now turn the call over to Linsley Carruth, T Rowe Price's Director of Investor Relations. Please go ahead.

Linsley Carruth

Hello, and thank you for joining us today for our third quarter earnings call. The press release and a supplemental materials document can be found on our IR website at investors.troweprice.com.

Today's call will last approximately 45 minutes. Our CEO and President, Rob Sharps; and CFO, Jen Dardis, will discuss the company's results for about 15 minutes, and then we'll open it up to your questions. We ask that you limit it to one question per participant.

We also have Eric Veiel, T. Rowe Price associates head of Global Equity here with Rob and Jen today for the question-and-answers portion of the call. I'd like to remind you that during the course of this call, we may make a number of forward-looking statements and reference certain non-GAAP financial measures. Please refer to the forward-looking statement language and the reconciliations to GAAP in the supplemental materials as well as in our press release and 10-Q. All investment performance references to peer groups on today's call are using Morningstar peer groups.

Now, I'll turn it over to Rob.

Robert Sharps

Thank you, Linsley, and thank you all for joining us today. Third quarter trends were largely similar to what we experienced earlier in the year. Relative investment performance was solid and particularly strong in our largest franchises. We made progress on our strategic initiatives and we executed on planned cost savings efforts.