Good morning, this is Crystal Beiting, Vice President, Investor Relations and Financial Planning and Analysis for The J.M. Smucker Company. Thank you for listening to our prepared remarks on our fiscal 2025 fourth quarter earnings. After this brief introduction, Mark Smucker, Chief Executive Officer and Chair of the Board, will provide a business and strategy update. Tucker Marshall, Chief Financial Officer, will then provide a detailed analysis of the financial results and our fiscal 2026 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, 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 am Eastern Time today for a live question-and-answer session with management to further discuss our fourth quarter results and next year's outlook for fiscal year 2026. I will now turn the discussion over to Mark Smucker.

Thank you, Crystal, and good morning, everyone. I will begin today's call with a summary of our full year performance and then provide highlights on our fourth quarter results. I will also share the strategic priorities that will enable us to achieve our fiscal 2026 guidance in what continues to be a dynamic operating environment while positioning the Company for future growth through investments to support our key platforms and strengthen our brands. Tucker will then provide additional details on our fourth quarter results and outlook for next fiscal year. Fiscal year 2025 was a year of significant progress as we delivered positive results in a challenging environment. Our performance reflects top-line growth supported by strong consumer demand for our portfolio of leading brands, and bottom-line growth driven by disciplined cost management and execution. We demonstrated agility throughout the organization by successfully managing what we could control, and we navigated with excellence those factors beyond our control. As a result, the business remained resilient amidst macroeconomic pressures. Our results in fiscal year 2025 reflect the success of our focused strategy and portfolio optimization, which has fundamentally transformed the company. Of note, we reignited innovation that is resonating with our consumers, with over $100 million in net sales coming from new products in their first year of launch, resulting in one of our most successful years of innovation in recent history. We launched Jif peanut butter and Chocolate Flavored Spread, new varieties of Uncrustables sandwiches, Café Bustelo multi-serve coffee and Milk-Bone peanut buttery bites, just to name a few, all of which are exceeding expectations. Our investments in brand building continued to be effective and drove consumer demand, with brands growing or maintaining dollar share accounting for 74% of our measured retail dollar sales in the fourth quarter as we ended…

Thank you, Mark. Good morning, everyone. I will begin by providing detail on the noncash impairment charges reflected in our fourth quarter GAAP results. We recognized a $867 million impairment charge related to the goodwill of the Sweet Baked Snacks reporting unit and a $113 million impairment charge related to the Hostess brand indefinite-lived trademark. These impairment charges are driven by the continued underperformance of the Sweet Baked Snacks segment and updated assumptions following the re-evaluation of the strategic priorities of this business to 3 drivers: strengthening the portfolio, elevating our execution, and reigniting sustainable growth. Due to the continued underperformance of the sweet baked goods category relative to when Hostess Brands was acquired, we now anticipate 3% net sales growth over the long-term. Through our revised strategy, we will stabilize the Hostess brand’s performance and deliver net sales and segment profit growth for the business. Now, I'll provide an overview of our fourth quarter results and then give additional details on our financial outlook for fiscal year 2026. In the quarter, net sales declined 3%. Comparable net sales decreased 1%, excluding the impact of divestitures and foreign currency exchange. Net sales was flat versus the prior year when also excluding contract manufacturing sales related to the divested pet food brands. The decrease in comparable net sales reflects a 3 percentage point decrease in volume/mix, driven by decreases for dog snacks, sweet baked goods, lower contract manufacturing sales related to the divested pet food brands, and fruit spreads, partially offset by an increase for Uncrustables sandwiches. Higher net price realization increased net sales by 3%, driven by higher net pricing for coffee, partially offset by lower net pricing for sweet baked goods and dog snacks. Net sales in the quarter were impacted by retailer inventory headwinds in U.S. Retail Pet…