Annaly Capital Management, Inc. (NYSE:NLY) Q2 2020 Earnings Conference Call - Final Transcript
Jul 30, 2020 • 09:00 am ET
Good morning, and welcome to the Annaly Capital Management Second Quarter 2020 Earnings Conference Call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to Purvi Kamdar. Please go ahead.
Thank you. Good morning, and welcome to the second quarter 2020 earnings call for Annaly Capital Management. Any forward-looking statements made during today's call are subject to certain risks and uncertainties, including with respect to COVID-19 impacts, 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 the 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. As a reminder, Annaly routinely posts important information for investors on the company's website at www.annaly.com. Content referenced in today's call can be found in our second quarter 2020 investor presentation and second quarter 2020 financial supplement, both found under the Presentations section of our website.
Annaly intends to use their web page as a means of disclosing material, nonpublic information but complying with the company's disclosure obligations under Regulation FD and to post and update investor presentations and similar materials on a regular basis. Annaly encourages investors, analysts, the media, and other interested parties to monitor the company's website in addition to following Annaly's press releases, SEC filings, public conference calls, presentations, webcasts and other information posted from time to time on its website. [Operator Instructions]
Participants on today's call include David Finkelstein, Chief Executive Officer and Chief Investment Officer; Serena Wolfe, Chief Financial Officer; Mike Fania, Head of Residential Credit; Tim Gallagher, Head of Commercial Real Estate; Tim Coffey, Chief Credit Officer; and Ilker Ertas, Head of Securitized Products.
And with that, I'll turn the call over to David.
David L. Finkelstein
Thank you, Purvi and good morning, everyone, and thanks for joining us on our second quarter earnings call. Today, I'd like to highlight a number of current corporate initiatives, provide an update on the market and discuss portfolio activity across our core businesses during the quarter, and finally, provide our outlook for the balance of the year, and then I'll hand it off to Serena to discuss the financials. Of note, while last quarter, each of our credit leaders providing an in-depth look at their respective markets and portfolios to be efficient. I'll provide those updates today. But as Purvi noted, each of our business heads are here as well to join in Q&A.
Now to begin with, I wanted to touch on a few strategic and corporate actions we've taken