Earnings Call Excerpt
American Express Company (AXP)
Q3 2009 Earnings Call
October 22, 2009 5:00 pm ET
Executives
Ron Stovall – Senior Vice President of Investor Relations
Daniel T. Henry – Executive Vice President and Chief Financial Officer
Analysts
Meredith Whitney - Meredith Whitney Advisory LLC
John McDonald - Sanford C. Bernstein
Robert Napoli - Piper Jaffray
Craig Maurer - Calyon Securities (USA) Inc.
Christopher Brendler - Stifel Nicolaus & Company, Inc.
Sanjay Sakhrani - Keefe, Bruyette & Woods
Donald Fandetti - Citigroup
Dan Furtado for Richard Shane - Jefferies & Co.
Bradley Ball - Ladenburg Thalmann & Co.
[Yanni Colaris] - Buckingham
Scott Valentin - FBR Capital Markets & Co.
John Stilmar - Suntrust Robinson Humphrey
Presentation
Operator
Ladies and gentlemen, thank you for standing by and welcome to the American Express Investor Relations third quarter earnings conference call. (Operator Instructions) And as a reminder today’s conference is being recorded.
I would now like to turn the conference to Senior Vice President of Investor Relations, Ron Stovall. Please go ahead.
Ron Stovall
Thank you Gwen, and thanks to all of you for joining us for today’s discussion.
As usual it’s my responsibility to remind you that the discussion today contains certain forward-looking statements about the company’s future financial performance and business prospects which are subject to risks and uncertainties and speak only as of today. The words believe, expect, anticipate, optimistic, intent, plan, aim, will, should, could, likely and similar expression are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements including the company’s financial and other goals are set forth within today’s earnings press release which was filed in an 8-K report and in the company’s 2008 10-K report, already on file with the Securities and Exchange Commission, in the third quarter 2009 earnings release and earnings supplement on file with the SEC in an 8-K report, as well as the presentation slides, all of which are now posted on our website at ir.americanexpress.com.
We have provided information that describes the company’s managed basis and other non-GAAP financial measures and the comparable GAAP financial information. We encourage you to review that information in conjunction with today’s discussion.
Dan Henry, Executive Vice President and Chief Financial Officer, will review some key points related to the quarter’s earnings through the series of slides included with the earnings document and provide some brief summary comments. Once Dan completes his remarks we will turn to the moderator who will announce your opportunity to get into the queue for the Q&A period where Dan will be available to respond to your questions. Up until then, no one has actually registered to ask questions. While we will attempt to respond to as many of your questions as possible before we end the call, we do have a limited amount of time. Based on this we ask that you limit yourself to one question at a time during the Q&A.
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