The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Help contextualize the earnings power of the business. And I was hoping to put a finer point around that, specifically when you talk about 4Q being
trough earnings capacity, does that comment still hold if the macro backdrop weakens and the implications that, that would have for the consumer
segment beyond just the current headwinds in mortgage and insurance? And I guess, taking a bigger step back, realizing the company has operated
through numerous cycles. But the business in its current form with the added diversification is a bit more untested. So it would be helpful to get
your thoughts around the puts and takes of a recession performance for the business in its current form.
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: I appreciate all that detail. And then on home equity, is there a way to frame how much upside there could be there relative to 2Q levels based on
the existing partners that you're mentioning that you're working with to onboard? And I guess for purchase, with mortgage rates trickling down
from their near 6% highs in late June, has there been any incremental signs of strength there as home buyers settle into the new environment?
Question: Melissa Marie Wedel - JPMorgan Chase & Co, Research Division - Analyst
: A lot of them have already been asked, but I was hoping to circle back on insurance. And given some of the optimistic comments that you've made
about sort of a rebound in that cycle. I'm curious, I guess the question would be for Scott. It would seem that the cycle is a bit different, particularly
impacted by persistent inflation and some of supply chain issues that could take a couple of years to shake out. I guess I'm curious how you think
the cycle compares to previous cycles? And does this impact sort of the level of confidence that you could have in the time line of a significant
rebound in this division?
Question: Melissa Marie Wedel - JPMorgan Chase & Co, Research Division - Analyst
: It does. It does. .
|
