AGNC Investment Corp. (NASDAQ:AGNC) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET

Company Participants

Katie Turlington - IR
Peter Federico - Director, President and CEO
Bernie Bell - EVP and CFO
Chris Kuehl - EVP and CIO
Aaron Pas - SVP, Non-Agency Portfolio Management

Conference Call Participants

Bose George - KBW
Crispin Love - Piper Sandler
Rick Shane - JPMorgan
Doug Harter - UBS
Trevor Cranston - JMP Securities
Eric Hagen - BTIG
Jason Stewart - Janney Montgomery
Harsh Hemnani - Green Street

Operator

Good morning, everyone, and welcome to the AGNC Investment Corp Third Quarter 2024 Shareholder Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, today's event is being recorded.

At this time, I'd like to turn the conference call over to Katie Turlington of Investor Relations. Please go ahead.

Katie Turlington

Thank you all for joining AGNC Investment Corp's third quarter 2024 earnings call. Before we begin, I'd like to review the safe harbor statement. This conference call and corresponding slide presentation contains statements that, to the extent they are not recitations of historical fact, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

All such forward-looking statements are intended to be subject to the safe harbor protection provided by the Reform Act. Actual outcomes and results could differ materially from those forecasts due to the impact of many factors beyond the control of AGNC. All forward-looking statements included in this presentation are made only as of the date of this presentation and are subject to change without notice.

Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in AGNC's periodic reports filed with the Securities and Exchange Commission. Copies are available on the SEC's website at sec.gov. We disclaim any obligation to update our forward-looking statements unless required by law.

Participants on the call include Peter Federico, Director, President and Chief Executive Officer; Bernie Bell, Executive Vice President and Chief Financial Officer; Chris Kuehl, Executive Vice President and Chief Investment Officer; Aaron Pas, Senior Vice President, Non-Agency Portfolio Management; and Sean Reid, Executive Vice President, Strategy and Corporate Development.

With that, I will turn the call over to Peter Federico.

Peter Federico

Good morning, and thank you for joining our third quarter earnings call.

For the last several quarters, we have spoken about a promising and durable investment environment that we believe was unfolding for AGNC. An environment characterized by mortgage spreads that were materially wider than historical norms, declining interest-rate volatility, and the emerging accommodative monetary policy stance by the Federal Reserve.