Good morning. This is Aaron Broholm, Vice President, Investor Relations for The J.M. Smucker Company. Thank you for listening to our prepared remarks on our fiscal 2023 fourth quarter earnings. After this brief introduction, Mark Smucker, Chair of the Board, President and Chief Executive Officer, will give an overview of the quarter’s results and an update on strategic initiatives. Tucker Marshall, Chief Financial Officer, will then provide a detailed analysis of the financial results and our fiscal 2024 outlook. Later this morning, we will hold a separate, live question-and-answer webcast. During today’s discussion, we will make forward-looking statements that reflect our current expectations about future plans and performance. These statements rely on assumptions and estimates, and actual results may differ materially due to risks and uncertainties. Additionally, please note we will refer to non-GAAP financial measures management uses to evaluate performance internally. I encourage you to read the full disclosure concerning forward-looking statements and details on our non-GAAP measures in this morning’s press release. Today’s press release, a supplementary slide deck summarizing the quarterly results, management’s prepared remarks, and the Q&A webcast can all be accessed on our Investor Relations website at jmsmucker.com. We invite all interested parties to join us at 9:00 a.m. Eastern Time today for a live question-and-answer session with management to further discuss our fourth quarter results and outlook for the full 2024 fiscal year. Please contact me if you have additional questions after today’s question-and-answer session. I will now turn the discussion over to Mark Smucker.

Thank you, Aaron, and good morning, everyone. Fiscal 2023 was a strong year for our Company amid a dynamic macro environment. Our performance exceeded our expectations and reflects progress against our strategy, improved execution capabilities, the resilience of our categories, and our consumers’ sustained demand for our portfolio of leading brands. We successfully navigated industry-wide challenges including inflation, labor shortages, supply chain disruptions, and increased competitive activity. Our dedicated employees continued to manage through these circumstances with agility and relentless focus on delivering results. I’ll first summarize our fourth quarter results, and then provide some highlights on our full-year performance. I'll also share why we are confident in delivering strong sales and earnings growth in fiscal year 2024, while investing to strengthen our brands and expand key platforms that position us for long-term growth. Tucker will then provide additional detail on our fourth quarter results and fiscal year 2024 outlook. For the fourth quarter, we delivered results well ahead of our expectations as comparable net sales increased 11% with growth across all of our U.S. Retail segments and our International and Away From Home business. Fourth quarter adjusted earnings per share increased 18%, primarily driven by the net sales growth and improved profit margins, partially offset by increased SD&A expenses. In Pet Foods, our momentum continued with comparable net sales up 11% versus the prior year, driven by strong growth across all categories. Dog snacks growth was led by the Milk-Bone brand, which grew net sales 20%. This growth reflects the benefits of higher net pricing, to recover increased costs, and volume growth. The Milk-Bone brand continues to drive growth for our market-leading dog snacks business, and the category overall, through core offerings and premium positioned innovation. Milk-Bone continued to significantly outpace the category, growing over 1.5x the category rate,…

Thank you, Mark. Good morning, everyone. I’ll begin by giving an overview of fourth quarter results, which finished above our expectations. Then I’ll provide additional details on our financial outlook for fiscal year 2024. Net sales increased 10%, including a 1% favorable impact of lapping customer returns related to the Jif peanut butter product recall. Excluding the impact of divestitures and foreign exchange, net sales increased 11%. The increase in comparable net sales was driven by an 11 percentage point increase in net price realization, primarily reflecting list price increases across the portfolio. Volume/mix was neutral compared to the prior year. Adjusted gross profit increased $117 million, or 18% compared to the prior year. The increase reflects a favorable net impact of higher net price realization and increased commodity and ingredient, packaging, and manufacturing costs. Favorable volume/mix also contributed to the gross profit increase and improved margins. Adjusted operating income increased $57 million, or 16%, reflecting the increased gross profit, partially offset by higher SD&A expenses. The increase in SD&A expenses was primarily driven by increased incentive compensation. Adjusted operating income also reflects the net benefit of one-time, unplanned, items in the quarter of approximately $20 million related to certain legal, tax, and insurance matters. Below operating income, net interest expense decreased $3 million, and the adjusted effective income tax rate was 23.8% , compared to 22.3% in the prior year. Factoring in all these considerations, along with share repurchases that resulted in weighted average shares outstanding of 105.9 million, fourth quarter adjusted earnings per share was $2.64, an increase of 18% from the prior year. Turning to our segment results, U.S. Retail Pet Foods net sales increased 9% versus the prior year. Net sales increased 11% excluding noncomparable sales in the prior year related to the divestiture of certain…