General Mills, Inc.

Thank you, Audra, and good morning to everyone. Thank you for joining us this morning for our Q&A session on our third quarter fiscal 2024 results. Hope everyone had time to review the press release, listen to our prepared remarks, and view our presentation materials, which we made available this morning on our investor relations website. It's important to note that in our Q&A session, we may make forward-looking statements that are based on management's current views and assumptions. Please refer to this morning's press release for factors that could impact forward-looking statements, and for reconciliations of non-GAAP information, which may be discussed on today's call. I'm here this morning with Jeff Harmoning, our chairman and CEO, and Kofi Bruce, our CFO. Let's go ahead and get right to the first question. So Audra, if you can get us started, please.

Yes, and as a reminder, please press star one if you have a question. We'll go next, or I'm sorry, we'll go first to Andrew Lazar at Barclays.

Great, thanks very much. Good morning, everybody. Morning, Andrew. Hi there. Jeff, in the prepared remarks, you mentioned the expected impact in the fourth quarter in terms of reported results from the lapping of the trade expense benefit last year. If we put that aside, which sort of seems like more mechanical, how do we think about momentum for the company in the fourth quarter in terms of what you'd expect in terms of in-market performance and consumption, right, as the company looks to really build momentum going into fiscal 25? Would you expect sort of an acceleration from what we saw in fiscal 3Q or something similar to 4Q?