Target
Q1 2022 Earnings Call
May 18, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Target Corporation first quarter earnings release conference call. [Operator instructions] I would now like to turn the conference over to Mr. John Hulbert, vice president, investor relations.
Please go ahead, sir.
John Hulbert -- Vice President, Investor Relations
Good morning, everyone, and thank you for joining us on our first quarter 2022 earnings conference call. On the line with me today are Brian Cornell, chairman and chief executive officer; Christina Hennington, chief growth officer; John Mulligan, chief operating officer; and Michael Fiddelke, chief financial officer. In a few moments, Brian, Christina, John, and Michael will provide their perspective on our first quarter performance and our outlook and priorities for the second quarter and beyond. Following the remarks, we'll open the phone lines for a question-and-answer session.
This morning, we're joined on this conference call by investors and others who are listening to our comments via webcast. Following the call, Michael and I will be available to answer your follow-up questions. And finally, as a reminder, any forward-looking statements that we make this morning are subject to risks and uncertainties, the most important of which are described in our most recently filed 10-K. Also, in these remarks, we refer to non-GAAP financial measures, including adjusted earnings per share.
Reconciliations of all non-GAAP numbers to the most directly comparable GAAP number are included in this morning's press release, which is posted on our investor relations website. With that, I'll turn it over to Brian for his thoughts on the quarter and his perspective on our outlook. Brian?
Brian Cornell -- Chairman and Chief Executive Officer
Thanks, John, and good morning, everyone. Our first quarter results demonstrate the underlying strength of the relationship we built with our guests at a time when our team is working through multiple cost pressures affecting our business. As expected, our business continued to grow in the first quarter on top of huge gains a year ago, underlining the resilience of both the consumer and the ability of our team to serve them. However, through a host of factors, this growth was challenged by unusually high costs, resulting in profitability well below what we expected to be and where we expect to operate over time.