Gildan Activewear Inc. (NYSE:GIL) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET

Company Participants

Glenn Chamandy – President and Chief Executive Officer

Rhodri Harries – Executive Vice President and Chief Financial and Administrative Officer

Sophie Argiriou – Vice President of Investor Communications

Conference Call Participants

Mark Petrie – CIBC

Luke Hannan – Canaccord Genuity

Stephen MacLeod – BMO Capital Markets

Jay Sole – UBS

Brandon Cheatham – Citi

Brian Morrison – TD Securities

James Duffy – Stifel

Operator

Good day and thank you for standing by. Welcome to Q1 2022 Gildan Activewear Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a Q&A session. To ask a question during the session [Operator instructions] I would now like to hand the conference over to the first speaker today, Ms. Sophie Argiriou, Vice President, Investor Relations. Please go ahead.

Sophie Argiriou

Thank you for Christine standing. Good afternoon, everyone and thank you for joining us. Earlier, we issued our press release announcing our earnings results for the first quarter of 2022. We also issued our earned interim shareholder reports containing management's discussion and analysis and consolidated financial statements. These documents will be filed with the Canadian Securities and Regulatory Authorities and the U.S. Securities Commission and are available on the company's corporate website. I'm joined here today by Glenn Chamandy, our President and Chief Executive Officer and Rod Harries, our Executive Vice President and Chief Financial and Administrative Officer.

In a moment, Rod will take you through the results for the quarter and a Q&A session will follow. Before we begin, please take note that certain statements included in this conference call may constitute forward-looking statements. Such forward-looking statements involve unknown and known risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.

We refer you to the company's filings with the U.S. Securities and Exchange Commission and the Canadian Securities and Regulatory Authorities. During this call we will also discuss certain non-GAAP financial measures. Reconciliations to the most directly comparable IFRS financial measures are provided in today's earnings release and in our MD&A. And with that, I will turn the call over to Rod.

Rhodri Harries

Thank you, Sophie. Good afternoon all and thank you for joining us today. What may begin by saying we're off to a strong start to 2022 as we delivered record net sales up 31% and record adjusted EPS up 58% over last year for the first quarter. Great results as we shift to our Gildan sustainable growth strategy, which is focused on driving growth and margin performance as we invest in and fully leverage our world-class large-scale, vertically integrated manufacturing platform. This platform, together with an efficient product portfolio and go-to-market approach, is providing us with strong capability to service our customers in an environment where many apparel companies are facing supply challenges.