Peter Grom

is that similar to what you're seeing? Are you seeing the category get a lot worse quarter-to-date and kind of what you're expecting from a holiday period?

I just want to understand and clarify kind of how you see that evolving as we move through the balance of the year

you kind of touched on weaker gross margin expectations versus exiting the first quarter. So would it be fair to assume operating profit growth at the lower end of the range?

You mentioned 3%, but some peers have touched on growth showing signs of improvement as you move through the quarter. Can you comment on what you have seen from a category standpoint exiting the qu...

the 3% to 4% organic sales growth. Can you maybe outline what you're expecting in terms of U.S. international SPD?

do you need category growth to accelerate from 2% in order to hit your evergreen target?

just on the implied step down in 4Q, and I appreciate the commentary around the port strikes and weaker VMS

I just wanted to clarify that's a total company organic comment

I think you said it's odd what you're seeing in terms of category growth. I'm just curious, why do you think this is ultimately happening?

I think you mentioned that 2Q U.S. or domestic sales will be similar to 1Q. Could you just unpack that that a bit

the phasing of the growth, right? So 1Q, 2% organic sales growth, pretty decent step down from what you just delivered in the fourth quarter

I was hoping to get some perspective on Latin America. Another strong volume quarter

can you maybe just speak to the performance in the quarter relative to your expectations? Where were things stronger than expected?

there was a comment regarding a decline in oral care due to the replacement of trade inventories in connection with the formula change

is that a broad-based comment? Or are there certain markets where you have greater confidence in that improvement

what you have seen from a consumption perspective across your categories as you move through the quarter and into April

I was just hoping to get some color on the gross margin performance in the quarter and kind of the cadence from here

there's just a lot of moving pieces here with the $0.90 and now this inflationary pressure.

So you you alluded to some shipment favorability in the quarter that I that I think is expected to come out of the third quarter. So can you maybe help frame the magnitude of the upside

just was hoping to get some perspective on the second quarter as well as the balance of the year. So just first, can you just help us understand what you're including or embedding from a category g...

Can you maybe just be more specific on what you've seen through October and how you see kind of consumption trending from here?

you just mentioned kind of the sequential improvement, it was mentioned in the prepared remarks that consumption trends would remain sluggish but improve in the second half. Can you just unpack that

I wanted to ask a little bit on gross margin guidance, just in the context of the fourth quarter, just the year-to-date performance applies a really kind of tough exit rate.

you touched on some retail destocking that happened at the end of the quarter. Is there any way you can put some guardrails around how much of an impact that had

when you back out the benefit from the ERP, it seems like that the guidance raise is entirely that, but you also lowered your tax rate outlook. So has anything changed from an underlying basis

Can you maybe just speak to what you're embedding in the outlook for 4Q after backing out this benefit and how should we be thinking about that exit rate as it pertains to fiscal 2026?

are there still some of these disruptions or repositioning changes that will be impacting growth?

I think back in August, you mentioned greater operating margin expansion in the back half and that it would build sequentially through the year

can you just talk about the level of visibility or confidence you have in the outlook at this point in time?

is that a full year comment or is that just that you would anticipate returning to organic sales growth at some point in the year

do you expect to see a return to growth at some point in time?

how we should be thinking about growth for this segment moving forward

what's the degree of visibility or level of confidence on that momentum or that momentum can be sustained

there was a competitor this week that talked about, you know, affordability, price reductions, that they're seeing expanded shelf space

I kind of wanted to bridge from the expectation last quarter of being on algorithms maybe being a little bit above that post tariffs to now kind of expecting 30% to 35% earnings growth

curious how you see organic sales growth in the first quarter in the context of the full year guidance and relatively strong 4Q exit rate

do you want to take that, Jane, Olivier?

when you look at the second quarter, how did it compare to your expectations?

The performance for the brand was very strong, but I think the expectation was that the contribution would be the smallest in the first quarter

I was hoping to get some perspective on coffee just as you look back to 2024. It's been a category that's been more difficult to call

Can you maybe just unpack that a bit more what regions or categories are you seeing a stronger performance

the performance in the quarter relative to what we can see in the track trends, it was a bit stronger

Can you just unpack that a bit? I mean, is that like a broad-based comment? Is that something you're seeing across all CPG categories?

with a much stronger year expected on cash flow front in '26

I wanted to go back to Steve's question just on the volume progression

you talked about the growth has kinda moderated sequentially, and you expect it to moderate further in the back half

have your expectations for the second quarter shifted? James, you mentioned the word choppy a couple of times

I wasn't sure if you were implying that you were expecting volume growth to kind of fall short of the 2% to 3% growth

when you stepped into the role what were kind of some of the biggest surprises from your standpoint

is there any way to frame an expectation for second quarter organic growth versus what we just saw in the first quarter

should we interpret that as 2Q organic sales growth is going to be muted as well

Can you maybe share how you see that playing out in the US versus what you might expect internationally

as we look out to '26 and just given the various cross currents and tougher comps, how do you see category growth evolving

expect organic sales to continue to show improvement relative to the 1% growth that you delivered this past quarter

can you just talk about what you are learning or seeing from the innovation and how that informs your view

you mentioned an expectation for PF and A to get back to kind of flat organic sales performance in the fourth quarter

Can you maybe just give us a sense in terms of your level of confidence, or visibility, into getting to that today

can you maybe just give us an update on energy drinks

is there something that you're seeing that's different that gives you greater confidence that the category is on much better footing today

despite these headwinds and a commitment to invest in the business but you still see a path to earnings growth next year

I was trying to just pin down what you're expecting in terms of category growth for the back half of the year

how do you see underlying category demand evolving from here? I know it might be a little bit harder

when you think about the guidance of flat to 3% growth, your commentary to Bonnie's question was really helpful

I was hoping to get some more perspective on international market growth. You touched on the Europe-focused markets

can you maybe just give us or unpack what you're seeing or expecting across your key cost buckets

There was some commentary earlier this week from one of your peers on some retail inventory dynamics happening in pods

I'd be curious how we should be thinking about fiscal '27 in the context of this exit rate. Would you anticipate some of the changes you're making to drive stronger growth

are you expecting those benefits to largely drop to the bottom line? Or would you look to maybe reinvest some of that upside

can you maybe walk us through what you're now expecting in terms of elasticity

I think the presentation shows an expectation for 10% price for the year and volume mix down 4%. So just curious how you see that evolving here

can you just talk about the level of confidence or visibility you have to that at this stage

a challenging exit rate and the guidance does seem to imply some improvement from that exit rate

shipments versus depletions, Garth, I think you mentioned that you still expect them to be closely aligned on a full year basis

I'm just curious if you've seen any shift in demand or channel dynamics as you exited the quarter or through April?

I would love to get your perspective on what you see as the biggest opportunities and challenges ahead?

Can you maybe just unpack the moving pieces a bit more clearly the top line is a bit pressure here, which we can see in the data

how do you dissect, what's typical given the macro versus what may be happening structurally

how are you actually thinking about underlying category growth across your key geographies?