AGNCM - AGNC Investment Corp. (AGNC) Q1 2024 Earnings Call Transcript
2024-04-23 13:03:08 ET
AGNC Investment Corp. (AGNC)
Q1 2024 Earnings Conference Call
April 23, 2024 08:30 ET
Company Participants
Katie Turlington - Investor Relations
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
Sean Reid - Executive Vice President, Strategy and Corporate Development
Conference Call Participants
Bose George - KBW
Rick Shane - JPMorgan
Terry Ma - Barclays
Crispin Love - Piper Sandler
Doug Harter - UBS
Jason Weaver - Jones Trading
Merrill Ross - Compass Point
Jake Katsikas - BTIG
Presentation
Operator
Good morning and welcome to the AGNC Investment Corp First Quarter 2024 Shareholder Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Katie Turlington in Investor Relations. Please go ahead.
Katie Turlington
Thank you all for joining AGNC Investment Corp.’s first 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 facts, 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 forecast 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 this 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 all for joining our earnings call. AGNC generated a strong economic return of 5.7% in the first quarter, driven by a combination of our compelling dividend and book value appreciation. On our earnings call last quarter, we talked about our growing confidence that the difficult transition period for Agency MBS was nearing its conclusion and that a durable and favorable investment environment for AGNC was slowly emerging....
AGNC Investment Corp. (AGNC) Q1 2024 Earnings Call Transcript