She gave a wonderful speech at her friend's wedding reception.

Literal

She [topic-は] friend [possessive-の] wedding reception [at-で] wonderful greeting [object-を] stated.

結婚披露宴 (けっこんひろうえん, 'wedding reception') is the formal compound for the event. 挨拶を述べる (あいさつをのべる, 'to deliver a speech/greeting') is the formal expression for giving a speech. すばらしい means 'wonderful.'