State Street Corporation (NYSE:STT) Q3 2024 Earnings Conference Call October 15, 2024 12:00 PM ET
Company Participants
Elizabeth Lynn - Global Head, Investor Relations
Ron O'Hanley - Chief Executive Officer
Eric Aboaf - Chief Financial Officer
Conference Call Participants
Glenn Schorr - Evercore
Brennan Hawken - UBS Financial
Alex Blostein - Goldman Sachs
Betsy Graseck - Morgan Stanley
Brian Bedell - Deutsche Bank
Jim Mitchell - Seaport Global Securities
Gerard Cassidy - RBC
Operator
Good morning, and welcome to State Street Corporation's Third Quarter 2024 Earnings Conference Call and Webcast. Today's discussion is being broadcasted live on State Street's website at investors.statestreet.com. This conference call is also being recorded for replay.
State Street's conference call is copyrighted and all rights are reserved. This call may not be recorded for rebroadcast or distribution, in whole or in part, without the expressed written authorization from State Street Corporation. The only authorized broadcast of this call will be housed on the State Street website.
Now, I would like to introduce Elizabeth Lynn, Global Head of Investor Relations at State Street.
Elizabeth Lynn
Good morning, and thank you all for joining us.
On our call today, our CEO, Ron O'Hanley, will speak first, then, Eric Aboaf, our CFO, will take you through our third quarter 2024 earnings presentation, which is available for download on the Investor Relations section of our website, investors.statestreet.com. Afterward, we'll be happy to take questions.
Before we get started, I'd like to remind you that today's presentation will include results presented on a basis that excludes or adjusts one or more items from GAAP. Reconciliations of these non-GAAP measures to the most directly comparable GAAP or regulatory measure are available in the appendix to our presentation.
In addition, today's call will include forward-looking statements. Actual results may differ materially from those statements due to a variety of important factors, such as those referenced in our discussion today and in the SEC filings, including the Risk Factors section of our Form 10-K. Our forward-looking statements speak only as of today, and we disclaim any obligation to update them even if our views change.
Now, let me turn it over to Ron.
Ron O'Hanley
Thank you, Liz, and good afternoon, everyone.
Our third quarter results, which we released earlier this morning, demonstrate the accelerating financial performance and strong business momentum we are achieving this year, which in turn positions State Street well for future growth. We achieved robust fee and total revenue growth and generated positive fee and total operating leverage in 3Q, which, when combined with increased capital return quarter-on-quarter, drove strong earnings growth for our shareholders on both the year-over-year and sequential basis, with quarterly EPS reaching the highest on record.