Company and Industry Overview * **Company**: SoFi Technologies, Inc. (NASDAQ: SOFI) * **Industry**: Fintech, Payments, Lending, and Financial Services Key Points Financial Guidance * **2024 Growth**: * Tech platform and financial services to grow 50% YoY, reaching 50% of total revenue. * Lending to grow slightly slower, with a conservative approach due to macro uncertainty. * 3-year CAGR expected to be 20-25% across the entire business. * **2023-2026 Outlook**: * Financial services to grow 50% CAGR, driven by deposit growth and net interest income. * Tech platform to grow 25% CAGR, driven by existing and new customers. * Lending to grow 20-25% CAGR, with a conservative approach in 2024 and acceleration in 2025-2026. Lending Segment * **2024 Lending**: * Revenue to be 92-95% of 2023 revenue. * Personal loans originations flat to down. * Student loan refinancing to grow modestly. * Home loans to grow correlated with rates. * **2025-2026 Lending**: * Expected to see acceleration in growth once macro visibility improves and rates stabilize. Financial Services * **2024 Financial Services**: * Expected to grow 75% YoY. * Deposit growth to continue, with 65% of loans funded by deposits. * Net interest income (NIM) margins to remain healthy, north of 5%. * **Tech Platform**: * Expected to grow 20% YoY in 2024. * Shifted focus to larger financial institutions and brands with large installed bases. * Expansion in 17 different countries across North America, Canada, and South/Central America. Other Key Points * **Brand Awareness**: * Unaided brand awareness has grown from 1-2% to upper single digits over the past few years. * Investments in brand and marketing have driven efficiency and cross-buy. * **Credit Quality**: * Expect losses to return to pre-pandemic levels of 7-8% life of loan losses in early/mid 2024. * Proactive credit cuts have been made to maintain healthy loss rates. * **Capital Ratios**: * Risk-based capital ratio to remain north of 14% in 2024 and 2025. * Well above regulatory minimum and operational requirements. * **Bank Charter**: * Bank charter has provided a sticky source of low-cost funding for loans. * Deposits have a cost of funding 200 basis points less than alternative sources. * Bank charter has opened doors for additional products and services.

Summary of Wells Fargo & Company Conference Call Company Overview - **Company**: Wells Fargo & Company (NYSE: WFC) - **Event**: UBS Financial Services Conference 2024 - **Date**: February 26, 2024 Key Points Regulatory Remediation - The termination of the 2016 sales practices consent order by the OCC is a significant milestone, with eight consent orders remaining [1][2][3] - Progress in remediation is ongoing, with a focus on addressing regulatory issues as a top priority [2][3] Consumer Banking and Lending - U.S. consumer health remains resilient, with average deposit balances still higher than pre-COVID levels despite a decline from peaks [5][6] - Spending remains strong, evidenced by packed restaurants and flights, although some consumer cohorts are experiencing stress [5][6] - A gradual spend down of consumer deposits is expected, with potential deterioration in credit quality over time [6][8] - The consumer deposit mix is shifting, with continued interest in CDs as a rate-seeking behavior [8][10] Commercial Banking - Corporate and SME clients are cautious about borrowing, reflecting a prudent approach in a potentially challenging economic environment [18][20] - Investment in the commercial bank includes hiring more bankers and enhancing technology to better serve clients [22][23] Private Credit - Private credit is increasingly relevant, particularly in the LBO space, but Wells Fargo is not pursuing high-leverage deals that do not align with its underwriting standards [25][26] - A partnership with Centerbridge has been established to offer financing solutions for mid-market clients [27][28] Corporate and Investment Banking (CIB) - Trading revenues have improved, with market share gains attributed to investments in technology and talent [29][30] - The integration of various business lines within CIB is expected to enhance fee generation without significantly increasing risk [32][33] - Future growth in CIB is anticipated as the asset cap is lifted, allowing for increased activity [38][40] Net Interest Income (NII) - A 7% to 9% decline in NII is projected for 2024, influenced by rate cut expectations and a modestly asset-sensitive profile [41][42] - The impact of deposit levels and loan growth on NII will be closely monitored throughout the year [43] Wealth Management - Efforts to stabilize and grow the wealth management business are underway, with a focus on attracting advisers and enhancing product offerings [46][48] - Opportunities exist to better serve affluent customers from the consumer bank in their wealth management needs [49] Expenses and Efficiency - Significant investments have been made in risk and regulatory compliance, with potential for future optimization once remediation is complete [52][53] - Ongoing modernization of technology and infrastructure is expected to improve efficiency and customer experience [54] Commercial Real Estate (CRE) - The commercial real estate sector is under scrutiny, particularly the office space segment, but overall portfolio performance remains strong [56][57] - Charge-offs in CRE are anticipated, with reserves expected to be utilized as the situation evolves [57] Capital Management - Plans for stock buybacks in 2024 exceed the $12 billion repurchased in 2023, with decisions based on client support opportunities and risk assessments [58][59] - The impact of regulatory frameworks like DFAST and Basel III on capital management strategies is being closely monitored [60][61] Additional Insights - The conference highlighted the importance of adapting to changing market conditions and regulatory environments while focusing on customer needs and operational efficiency [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][56][57][58][59][60][61][62][63]

Colgate-Palmolive Company (NYSE:CL) Presents at Consumer Analyst Group of New York Conference February 23, 2024 8:00 AM ET Company Participants Noel Wallace - Chairman, President and CEO Diana Schildhouse - Chief Analytics & Insights Officer Conference Call Participants Bryan Spillane - Bank of America Dara Mohsenian - Morgan Stanley Chris Carey - Wells Fargo Andrea Teixeira - JPMorgan Peter Grom - UBS Unidentified Company Representative So, with that, joining us today from Colgate, our Chairman and CEO, No ...

Ford Motor Company (NYSE:F) Barclays Industrials Conference Transcript February 22, 2024 8:35 AM ET Executives Navin Kumar - Chief Financial Officer, Ford Pro Analysts Dan Levy - Barclays Andrew Keches - Barclays Dan Levy Thank you everyone for joining us on day two of the Barclays Industrial Select Conference, the autos track here. I’m Dan Levy. I lead U.S. autos research coverage and I’m joined here by my colleague, Andrew Keches, who leads coverage of autos on the IG credit side, and very pleased to have ...

Church & Dwight Co Inc (NYSE:CHD) Presents at CAGNY 2024 Conference (Transcript) February 22, 2024 3:00 PM ET Company Participants Matthew Farrell - President, CEO & Chairman Richard Dierker - CFO, Executive VP & Head of Business Operations Conference Call Participants Dara Mohsenian - Morgan Stanley Andrea Teixeira - JPMorgan Unidentified Company Representative Good afternoon, everybody, and welcome back. Our next presenters, Church & Dwight, have been longtime supporters of CAGNY in our conference. And to ...

Amgen Inc. Rare Disease Investor Analyst Call Summary Company Overview - **Company**: Amgen Inc. (NASDAQ: AMGN) - **Date of Call**: February 22, 2024 - **Focus**: Rare Disease as a new growth pillar alongside general medicine, oncology, and inflammation [3][4] Key Points and Arguments Strategic Focus on Rare Disease - Rare disease is identified as Amgen's fourth and newest growth pillar, enhancing existing opportunities in other therapeutic areas [3][4] - The acquisition of TAVNEOS and Horizon has strengthened Amgen's portfolio in rare diseases, establishing a robust growth avenue [4] Growth Projections - Anticipated sustained growth across all pillars through the end of the decade, driven by marketed products and innovative pipeline projects [5][7] - Rare disease products generated nearly $4 billion in sales in 2023, primarily in the U.S., indicating significant room for international expansion [13] Innovative Product Portfolio - Key medicines include: - **TEPEZZA**: First treatment for thyroid eye disease, addressing a critical unmet need [8] - **KRYSTEXXA**: Treatment for uncontrolled gout, showing a 70% reduction in uric acid levels in clinical trials [36][38] - **UPLIZNA**: Targets neuromyelitis optica spectrum disorder (NMOSD), with over 75% reduction in relapse risk [47] - **TAVNEOS**: First-in-class treatment for ANCA-associated vasculitis, showing superior results in sustaining remission compared to standard therapy [60][61] Market Opportunities - Rare diseases often lack treatment options, with only 5% of the estimated 10,000 rare diseases having available therapies [10] - The U.S. market for TEPEZZA has a penetration rate in the high single digits, indicating substantial growth potential [27] - International expansion is a priority, with regulatory reviews and filings underway in Japan and Europe for TEPEZZA [30][31] Patient Challenges and Support - Patients with rare diseases face significant barriers, including misdiagnosis, limited treatment options, and geographic access issues [11][12] - Amgen is committed to enhancing disease awareness and providing comprehensive support to improve patient outcomes [12] Financial Stability and Shareholder Value - Amgen's combined cash flow supports ongoing investments in innovation while delivering shareholder value through a growing dividend [7] - The strategic focus on rare diseases is expected to accelerate revenue growth and contribute to non-GAAP earnings starting in 2024 [7] Research and Development Capabilities - Amgen leverages its robust R&D capabilities and biologics manufacturing expertise to advance its rare disease portfolio [6] - The company is utilizing advanced research platforms to fill data gaps and expedite the development of rare disease medicines [67][68] Pipeline and Future Indications - Ongoing Phase 3 trials for UPLIZNA in IgG4-related disease and myasthenia gravis, with expected data readouts in the second half of 2024 [53][55] - Continued focus on expanding the rare disease portfolio and enhancing treatment options for patients [66] Additional Important Insights - The call highlighted the importance of patient advocacy and community support in addressing the unique needs of rare disease patients [16] - Amgen's commitment to innovation and patient-centric approaches positions it favorably in the rare disease market, with a strong reputation among patient advocacy groups [17] This summary encapsulates the key points discussed during the Amgen Rare Disease Investor Analyst Call, emphasizing the company's strategic focus, growth opportunities, and commitment to addressing the needs of patients with rare diseases.

Clorox Co (NYSE:CLX) Consumer Analyst Group of New York Virtual Conference Call February 22, 2024 2:00 PM ET Company Participants Kevin Jacobsen - EVP & CFO Linda Rendle - CEO & Chairman Conference Call Participants Olivia Cheang - Raymond James & Associates Dara Mohsenian - Morgan Stanley Peter Grom - UBS Christopher Carey - Wells Fargo Securities Andrea Teixeira - JPMorgan Chase & Co. Unidentified Analyst Next up, I'm happy to welcome Clorox back to the CAGNY stage. It's certainly been an eventful few yea ...

Air Products and Chemicals, Inc. (NYSE:APD) Citi Global Industrial Tech and Mobility Conference Call February 22, 2024 8:50 AM ET Company Participants Samir Serhan - EVP & COO Siddharth Manjeshwar - VP, Treasury & IR Conference Call Participants Patrick Cunningham - Citigroup Patrick Cunningham Good morning, everyone. My name is Patrick Cunningham. I'm the North America chemicals analyst here at Citi. Today, I'm joined -- excited to be joined by Air Products, one of the world's leading industrial gas compan ...

Carrier Global Corporation (NYSE:CARR) Barclays 41st Annual Industrial Select Conference February 22, 2024 10:20 AM ET Company Participants David Gitlin - Chairman and Chief Executive Officer Patrick Goris - Senior Vice President and Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Julian Mitchell Well, thanks, everyone, for being here. It's my pleasure to have up next Carrier Global, David Gitlin, Chairman and CEO; and Patrick Goris, CFO. So thanks very much to both of you fo ...

3M Company (NYSE:MMM) Barclays 41st Annual Industrial Select Conference February 22, 2024 8:00 AM ET Company Participants Mike Roman - Chairman & Chief Executive Officer Monish Patolawala - President & Chief Financial Officer Conference Call Participants Julian Mitchell - Barclays Julian Mitchell Welcome, everyone, to this morning's Industrial Select Conference. It's my pleasure to start today with 3M. We have Mike Roman, Chairman and CEO; and also Monish Patolawala, Chief Financial Officer. So welcome, Mik ...