General Mills, Inc.

Hi, thank you, Julianne, and good morning to everyone. We appreciate you joining us today for our Q&A session on our first quarter fiscal 25 results. I hope you had time to review our press release, listen to our prepared remarks, and view the presentation materials, which we made available this morning on our investor relations website. Please do note that in our Q&A session, we may make forward-looking statements that are based on our 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. So, Julianne, we can go ahead and get to the first question. Will you please open it up?

Certainly. As a reminder, to ask a question, please press star followed by the number one on your telephone keypad. Our first question comes from Matt Smith from Stiefel. Please go ahead. Your line is open.

Good morning. I believe when you initially provided fiscal 25 guidance, you weren't assuming much improvement in your categories with more emphasis on your competitiveness. Does the shift in more at-home food consumption give you more confidence in the organic sales outlook, or are you seeing that benefit muted by continued value-seeking behavior?