Annaly Capital Management Inc. (NLY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the fourth quarter of 2025 earnings call for Annali Capital Management. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, today's event is being recorded. I would now like to turn the conference over to Shawn Ketzel, Director of Investor Relations. Please go ahead. Shawn Ketzel, Director of Investor Relations, Good morning, and welcome to the fourth quarter 2025 earnings call for Annaleigh Capital Management. Any forward-looking statements made during today's call are subject to certain risks and uncertainties, 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 this 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. Content referenced in today's call can be found in our fourth quarter 2025 investor presentation and fourth quarter 2025 financial supplement, both found under the presentation section of our website. Please also note this event...