SLM Corporation (NASDAQ:SLM) Q3 2023 Results Conference Call October 26, 2023 8:00 AM ET

Company Participants

Melissa Bronaugh - VP & Head of Investor Relations

Jonathan Witter - CEO & Director

Steven McGarry - Executive VP & CFO

Peter Graham - Executive Vice President

Conference Call Participants

Michael Kaye - Wells Fargo

Sanjay Sakhrani - KBW

Rick Shane - JPMorgan

Jeff Adelson - Morgan Stanley

Arren Cyganovich - Citi

Jordan Hymowitz - Philadelphia Financial

Operator

Good day, and thank you for standing by. Welcome to the Third Quarter 2023 Sallie Mae Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker, Melissa Bronaugh. Please go ahead.

Melissa Bronaugh

Thank you, Carmen. Good morning, and welcome to Sallie Mae's Third Quarter 2023 Earnings Call. It is my pleasure to be here today with Jon Witter, our CEO; Steve McGarry, our CFO; and Pete Graham, who will succeed Steve as our next CFO beginning October 27. After the prepared remarks, we will open the call for questions. Before we begin, keep in mind our discussion will contain predictions, expectations and forward-looking statements. 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-Q and other filings with the SEC. For Sallie Mae, these factors include, among others, results of operations and financial conditions and/or cash flows. During this conference call, we will refer to non-GAAP measures we call our core earnings. A description of core earnings, a full reconciliation to GAAP measures and our GAAP results can be found in the Form 10-Q for the quarter ended September 30, 2023. This is posted along with the earnings press release on the Investors page at salliemae.com. Thank you. And now I'll turn the call over to Jon.

Jonathan Witter

Thank you, Melissa and Carmen. Good morning, everyone. Thank you for joining us to discuss Sallie Mae's third quarter results. I hope you'll take away 3 key messages today. First, we had a successful peak season highlighted by increased under class demand. Second, we remain on track to deliver around the midpoint of our full year 2023 EPS guidance. And third, we are excited about the ongoing prospects of the company, in particular, as we start to look past the end of our CECL phase-in period.