Kontoor Brands, Inc. (NYSE:KTB) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET

Company Participants

Michael Karapetian – Vice President, Corporate Development, Strategy, and Investor Relations
Scott Baxter – President, Chief Executive Officer and Chair
Joe Alkire – Chief Financial Officer

Conference Call Participants

Ike Boruchow – Wells Fargo
Brooke Roach – Goldman Sachs
Bob Drbul – Guggenheim
Peter McGoldrick – Stifel
Mauricio Serna – UBS
Paul Kearney – Barclays
Laurent Vasilescu – BNP Paribas

Operator

Greetings, and welcome to the Kontoor Brands Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Michael Karapetian, Vice President, Corporate Development, Enterprise Strategy, and Investor Relations Thank you. You may begin.

Michael Karapetian

Thank you, operator, and welcome to Kontoor Brands second quarter 2024 earnings conference call. Participants on today's call will make forward-looking statements. These statements are based on current expectations and are subject to uncertainties that could cause actual results to materially differ. These uncertainties are detailed in documents filed with the SEC. We urge you to read our risk factors, cautionary language and other disclosures contained in those reports.

Amounts referred to on today's call will be in constant currency unless otherwise noted, and often on an adjusted dollar basis, which we clearly define in the news release that was issued earlier this morning. Our outlook is presented on an adjusted dollar basis.

Reconciliations of GAAP measures to adjusted amounts can be found in the supplemental financial tables included in today's news release, which is available on our website at kontoorbrands.com. These tables identify and quantify excluded items and provide management's view of why this information is useful to investors.

Joining me on today's call are Kontoor Brands President, Chief Executive Officer and Chair, Scott Baxter, and Chief Financial Officer, Joe Alkire. Following our prepared remarks, we will open the call for questions. We anticipate this call will last about one hour. Scott?

Scott Baxter

Thanks, Mike, and thank you to everybody, joining us on today's call. I'm pleased to share that we delivered second quarter results above our expectations. Our results were driven by continued market share gains, gross margin expansion and strong earnings growth in cash generation.

In what remains an uncertain environment, the consistency of our execution and power of our model is driving competitive separation and improving fundamentals. We are entering the second half of the year with great momentum. Our brands are winning with the consumer and we expect revenue growth to accelerate for both brands through the balance of the year.