Discover Financial Services (DFS) CEO Roger Hochschild on Q1 2022 Results - Earnings Call Transcript

Discover Financial Services (NYSE:DFS) Q1 2022 Earnings Conference Call April 28, 2022 8:00 AM ET

Company Participants

Eric Wasserstrom - Head of IR

Roger Hochschild - CEO

John Greene - CFO

Conference Call Participants

Bill Carcache - Wolfe Research

Sanjay Sakhrani - KBW

Moshe Orenbuch - Credit Suisse

Betsy Graseck - Morgan Stanley

John Pancari - Evercore ISI

Ryan Nash - Goldman Sachs

Mark DeVries - Barclays

Kevin Barker - Piper Sandler

Don Fandetti - Wells Fargo

Rick Shane - JPMorgan

Robert Napoli - William Blair

Mihir Bhatia - Bank of America Merrill Lynch

John Hecht - Jefferies

Meng Jiao - Deutsche Bank

Operator

Good morning. My name is Ashley, and I'll be your conference operator today. At this time, I would like to welcome everyone to the First Quarter 2022 Discover Financial Services Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you.

And I will now turn the call over to Mr. Eric Wasserstrom, Head of Investor Relations. Please go ahead.

Eric Wasserstrom

Thank you, Ashley. And good morning, everyone. Welcome to today’s call. I'll begin on Slide 2 of our earnings presentation, which you can find in the Financials section of our Investor Relations website, investorrelations.discover.com.

Our discussion today contains certain forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially. Please refer to our notices regarding forward-looking statements that appear in our fourth quarter earnings press release and presentation.

Our call today will include remarks from our CEO, Roger Hochschild; and John Green, our Chief Financial Officer. After we conclude our formal comments, there will be time for a question-and-answer session. During the Q&A session, you will be permitted to ask one question, followed by one follow-up question. After your follow-up question, please return to the queue.

Now, it's my pleasure to turn the call over to Roger.

Roger Hochschild

Thanks, Eric, and thanks to our listeners for joining today's call. In my comments this morning, I'm going to address three topics, our strategic and financial highlights for the first quarter, the expected impact of the current environment on our 2022 results, and some of the exciting advancements we've made around our DE&I and ESG reporting.