Brunswick Corporation (NYSE:BC) Q2 2022 Earnings Conference Call July 28, 2022 11:00 AM ET

Company Participants

Neha Clark - Senior Vice President, Enterprise Finance

Dave Foulkes - Chief Executive Officer

Ryan Gwillim - Chief Financial Officer

Conference Call Participants

Xian Siew - BNP Paribas

James Hardiman - Citi

Kevin Heenan - JPMorgan

Anna Glaessgen - Jefferies

Fred Wightman - Wolfe Research

Scott Stember - MKM Partners

Mike Swartz - Truist Securities

Joe Nolan - Longbow Research

Joe Altobello - Raymond James

Craig Kennison - Baird

Operator

Good morning, and welcome to Brunswick Corporation's Second Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode until the question-and-answer session period. Today's meeting will be recorded. If you have any objections, you may disconnect at this time.

I would now like to introduce Neha Clark, Senior Vice President, Enterprise Finance, Brunswick Corporation.

Neha Clark

Good morning, and thank you for joining us. With me on the call this morning are Dave Foulkes, Brunswick's CEO; and Ryan Gwillim, CFO. Before we begin with our prepared remarks, I would like to remind everyone that during the call our comments will include certain forward-looking statements about future results. Please keep in mind that our actual results could differ materially from these expectations. For details on the factors to consider, please refer to our recent SEC filings and today's press release. All of these documents are available on our website at brunswick.com.

During our presentation, we will be referring to certain non-GAAP financial information. Reconciliations of GAAP to non-GAAP financial measures are provided in the appendix to this presentation and the reconciliation section of the unaudited consolidated financial statements accompanying today's results.

I will now turn the call over to Dave.

Dave Foulkes

Thanks, Neha, and good morning, everyone. In the second quarter, we delivered our first ever quarter with more than $300 million of adjusted operating earnings and together with record revenue and EPS continued our trend of exceptional performance in the challenging macroeconomic landscape.

We maintained our strong focus on cost control and operational efficiencies while continuing to invest in new capacity, new product programs and ACES initiatives necessary to fuel future growth and market share gains. All our divisions contributed to the strong performance while continuing to actively manage our supply chain and negotiate macro volatility.

Consumer demand for our products remain strong as we work through a period of tougher year-over-year retail comparisons versus a particularly strong first half of 2021 while being impacted by continued low field inventory and some enduring supply chain disruptions.