Max Gumport

is there any way to size the magnitude of the absorption headwind that you'll see in March?

is there anything that you're seeing that would prevent you from getting back to a high 20% gross margin level?

I'm hoping to get a bit more color on how you expect to see the business progress from the 11% operating margin you expect for this year over the next few years

I was hoping to get a bit more color on the operating deleverage that you've seen the business face over the last several and whether at this point you see any need to rationalize your manufacturin...

Your snack volumes were up 4% in 3Q. Which stands in contrast to what we're seeing for the industry

With regard to the expectation for volumes to improve through the year, is that really a category dynamic? Or is it a market share expectation

do you think there's any help you're getting on volume market share because you perhaps invested in price first

if you have an update on your thinking on the ability for volumes to stay positive after you lap these price cuts

Is there's any way you could quantify just how much investment is going behind that national expansion into Fresh Pet Food?

Can you provide a bit more color on what drove it? Is this an industry-wide phenomenon?

Can you just talk through a bit how much of this is maybe some cushion and conservatism in the initial outlook you provided

given these discrete factors, I'm trying to get a better sense for what might be holding you back and sort of keeping the low end of the range at 4%

I was hoping for an update on tariffs, particularly if there are any expenses particularly such as those associated with cashews

did you say coming out of the first quarter that you now view the high end of your guidance range as less likely given what you're seeing

can you just help us tie those three targets together? Maybe give us a sense for when you end FY 2025, how much of that $200 million plus

I just wanted to turn back to the question on '26 because you did reaffirm that the $250 million of growth from '23

how this informs your view of your performance from here? And also how it factors into the 2% to 4% organic sales growth target

Can you just provide an updated view on what you're seeing there and also how you're looking to navigate your portfolio

I'm curious what your learnings are that you've taken, and if there's any factors you're seeing that make me consumer in Europe how they approach chocolate, different from the US consumer

if you can just focus on the everyday business and give us a bit more color on what you're seeing in these first few weeks

I'm hoping you could provide a bit of a finer point on how to read the impact of this pricing for next year and what it might mean for your P&L

how should we think about any need for incremental reinvestment next year to support that price increase

your guidance seems to apply that pre-considering tariffs. Your expectation for EBITDA has gone up modestly

I'm wondering if you're also seeing any impact from changing consumer preferences and healthier eating

could you just give a bit more color on what's informing the minus one and if that applies to your smaller international segment too

I wanted to get a better sense for the retailer destocking that you saw. I'm hoping to get more color on what drove it

there is a shift away from snacking that's going on due to a consumer that's more focused on health and wellness

you have one of the highest supply chain productivity programs in your history coming up in '25

I'm wondering if there's been any considerations for dis-synergies that could arise from the separation

can you just talk a bit more about the the conversations that went into determining what was the right multiple to pay

I was hoping you could just give us a bit of clarity. Tell us what was the final gross and net tariff number that you booked in FY '25

I'm assuming I misheard you that 1Q EPS is at the mid to high end of guidance

I'm trying to understand why those two are no longer as tightly correlated. What's propping up Consumer Americas

you're still a bit below where you were a year ago in terms of operating cash flow

I just wanted to confirm that even with the inclusion of tariffs now in your outlook, the long-term targets you gave at the Investor Day last year

could you talk more broadly about the level to which you're seeing this uptick take hold? Is it one of the higher levels you've seen in the past several years

packaged food players, particularly those with exposure to snacking, some of whom are your key customers in Flavor Solutions have been observing prolonged softness

there is the comment about cash flow in '24 being impacted by decisions to increase inventory. I think there are strategic buying decisions

I'm just curious if you have any color you can provide on what you view now as a reasonable normalized segment profit margin for Sweet Baked Snacks

just curious for an update on how you view these trends for Uncrustables and how you're thinking about that business as you are getting close to the $1 billion target

is the volume decline we saw in the quarter really just due to any lapping items that you saw with the strong 2Q a year ago

the $75 million in tariff expense that you're referring to, is that the total amount you expect to see in FY 2026, and it is essentially entirely due to coffee tariffs

your monthly research showing no real impact so far. Can you provide a bit more color on what the what your studies are showing

I think earlier on this call, you mentioned an expectation for flat net sales growth in the second half. You just did a three percent sales growth for coffee

can you just talk about what you're seeing in the competitive environment that's informing those types of decisions