Two Harbors Investment Corp. (NYSE:TWO) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET
Company Participants
Maggie Karr - Head of Investor Relations
William Greenberg - President and Chief Executive Officer
Mary Riskey - Vice President and Chief Financial Officer
Nicholas Letica - Vice President and Chief Investment Officer
Conference Call Participants
Douglas Harter - Credit Suisse AG
Bose George - Keefe, Bruyette, & Woods, Inc.
Trevor Cranston - JMP Securities LLC
Kenneth Lee - RBC Capital Markets
Richard Shane - JPMorgan Chase & Co.
Eric Hagen - BTIG
Operator
Good morning. My name is Klement, and I will be your conference facilitator. At this time, I would like to welcome everyone to Two Harbors' Second Quarter 2023 Financial Results Conference Call. All participants will be in a listen-only mode. After the speakers' remarks, there will be a question-and-answer period.
I would now like to turn over the call to Maggie Karr.
Maggie Karr
Good morning, everyone, and welcome to our call to discuss Two Harbors' second quarter 2023 financial results. With me on the call this morning are Bill Greenberg, our President and Chief Executive Officer; Nick Letica, our Chief Investment Officer; and Mary Riskey, our Chief Financial Officer.
The press release and presentation associated with today's call have been filed with the SEC and are available on the SEC's website, as well as the Investor Relations page of our website at twoharborsinvestment.com. In our earnings release and presentation, we have provided reconciliations of GAAP to non-GAAP financial measures, and we urge you to review this information in conjunction with today's call.
As a reminder, our comments today will include forward-looking statements, which are subject to risks and uncertainties that may cause our results to differ materially from expectations. These are described on Page 2 of the presentation and in our Form 10-K and subsequent reports filed with the SEC. Except as may be required by law, Two Harbors does not update forward-looking statements and disclaims any obligation to do so.
I will now turn the call over to Bill.
William Greenberg
Thank you, Maggie. Good morning, everyone, and welcome to our second quarter earnings call. Today, I'll provide an overview of our quarterly performance and I'll review our decision to reduce our second quarter dividend. Then, after summarizing the current market environment, I'll take a few moments to illustrate our thoughts on the effects of hedging in an inverted yield curve environment. Mary will cover our financial results in detail and Nick will discuss our portfolio activity, positioning, and return outlook.