“It is also important to note that if we do see further improvement in cocoa, we will likely reinvest a portion of that saving back into the business.”

In context

“duction is sourced from the US or is USMCA compliant. However, there is some sourcing of finished goods and ingredients that are subject to tariffs as things stand today. Although not particularly large, these are incremental to our last call and have been factored into our current earnings outlook. Before Q&A, a few words on '26. We remain focused on running a balanced P&L for '25, while continuing to maintain a sound chocolate business and category for the long-term. The early results have been positive as it relates to our chocolate strategy. We continue to invest behind our business, while cost saving initiatives remain on target. It is early to provide specifics on 2026, but we still expect EPS growth for next year. Although cocoa prices have come down recently, they remain elevated. It is also important to note that if we do see further improvement in cocoa, we will likely reinvest a portion of that saving back into the business. With that let's open the line for questions. Operator: Thank you. [Operator Instructions] We'll go first to Andrew Lazar with Barclays. Andrew Lazar: Great. Thanks so much. Appreciate it. Maybe, Dirk, just to start it off, it'd be great to get maybe a bit more detail on sort of trends in some key regions as we think about sort of a year to go from here. Dirk Van De Put: Yes. Thanks, Andrew. Well, I would say that first of all, despite the changes that we see in the external environment that we feel pretty good about the start of the year and our results. I would note a few positives, which will impact the rest of the year, that happened during Q1. First of all, we had some major negotiations to do in Europe to announce the price increases and get approval for the price increases on our ch”