Annaly Capital Management, Inc. (NYSE:NLY) Q4 2023 Earnings Conference Call February 8, 2024 9:00 AM ET

Company Participants

Sean Kensil - Director and Investor Relations

David L. Finkelstein - Chief Executive Officer and Chief Investment Officer

Serena Wolfe - Chief Financial Officer

Ken Adler - Head of Mortgage Servicing Rights

Mike Fania - Deputy Chief Investment Officer, Head of Residential Credit

V.S. Srinivasan - Head of Agency

Conference Call Participants

Bose George - KBW

Crispin Love - Piper Sandler

Doug Harter - UBS

Jason Weaver - Jones Trading

Rick Shane - JPMorgan

Trevor Cranston - JMP Securities

Eric Hagen - BTIG

Operator

Good day, and welcome to the Fourth Quarter 2023 Annaly Capital Management Earnings Conference. Please note that, today’s event is being recorded.

I would now like to turn the conference over to Mr. Sean Kensil, Director and Investor Relations. Please go ahead, sir.

Sean Kensil

Good morning, and welcome to the Fourth Quarter 2023 Earnings Call for Annaly Capital Management.

Any forward-looking statements made during today's call are subject to certain risks and uncertainties, which are outlined in the Risk Factors section in our most recent annual and quarterly SEC filings. Actual events and results may differ materially from these forward-looking statements. We encourage you to read the disclaimer in our earnings release in addition to our quarterly and annual filings.

Additionally, the content of this conference call may contain time-sensitive information that is accurate only as of the date hereof. We do not undertake and specifically disclaim any obligation to update or revise this information.

During this call, we may present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our earnings release. Content referenced in today's call can be found in our Fourth Quarter 2023 Investor Presentation and Fourth Quarter 2023 Supplemental Information, both found under the Presentations section of our website. Please also note this event is being recorded.

Participants on this morning's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Deputy Chief Investment Officer and Head of Residential Credit; V.S Srinivasan, Head of Agency; and Ken Adler, Head of Mortgage Servicing Rights.

And with that, I'll turn the call over to David.

David L. Finkelstein

Thank you, Sean. Good morning, everyone, and thanks for joining us today.

I'll begin with a brief review of the fourth quarter market environment and our portfolio performance, then discuss the current macro landscape, followed by an update on our businesses and our outlook for 2024. And Serena, will then discuss our financials before opening up the call for Q&A.