Truist Financial Corporation (NYSE:TFC) Q3 2024 Earnings Call Transcript October 17, 2024 8:00 AM ET

Company Participants

Brad Milsaps - IR
Bill Rogers - Chairman and CEO
Mike Maguire - CFO

Conference Call Participants

Scott Siefers - Piper Sandler
Betsy Graseck - Morgan Stanley
Erika Najarian - UBS
Ebrahim Poonawala - Bank of America
Mike Mayo - Wells Fargo
Matt O'Connor - Deutsche Bank
Gerard Cassidy - RBC

Operator

Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation Third Quarter 2024 Earnings Conference Call. Currently, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this event is being recorded. It is now my pleasure to introduce your host, Mr. Brad Milsaps.

Brad Milsaps

Thank you, Betsy, and good morning, everyone. Welcome to Truist's third quarter 2024 earnings call. With us today are our Chairman and CEO, Bill Rogers; our CFO, Mike Maguire; our Vice Chair and Chief Risk Officer, Clarke Starnes; as well as other members of Truist's senior management team. During this morning's call, they will discuss Truist's third quarter results, share their perspectives on current business conditions and provide an updated outlook for 2024. The accompanying presentation as well as our earnings release and supplemental financial information are available on the Truist investor relations website at ir.truist.com.

Our presentation today will include forward-looking statements and certain non-GAAP financial measures. Please review the disclosures on Slides 2 and 3 of the presentation regarding these statements and measures as well as the appendix for appropriate reconciliations to GAAP.

With that, I will turn it over to Bill.

Bill Rogers

Thanks, Brad, and good morning, everyone, and thanks for joining our call today. Before we discuss the third quarter's results, I'd like to begin with purpose on Slide 4. As you all know, Truist is a purpose-driven company. We're dedicated to inspiring and building better lives and communities. It's the foundation for everything we do and the belief in this mission has never been more important given the extraordinary start to the fourth quarter with two devastating hurricanes. In the days since these storms cut a path through the Southeast, Truist's humanitarian aid team and hundreds of teammate volunteers have been out and forced to help our communities. I spent time in recent days with teammates in some of the hardest hit areas. These teammates are doing just incredible heroic work, helping their neighbors, distributing critical supplies and making sure Truist facilities were open to serve our clients even as their own lives have been upended. In addition to contributions from the foundation, we've set up several sites where we've distributed supplies. We've also deployed mobile services for basic needs like showers and laundering facilities as well as mobile branches, ATMs and generators to serve clients in areas without power. This recovery is going to take time, and we're going to play a significant role in helping these communities recover and rebuild in the days, weeks, months and even years to come. They can count on Truist.