Mainer Chief Operating Officer - Nicolas Catoggio Operator: Welcome to the Post Holdings Third Quarter 2026 Earnings Conference Call and Webcast. [Operator Instructions] I would now like to turn the call over to Matt Mainer, CFO of Post. Matt Mainer: Thank you, and good morning. Thank you all for joining us today for Post's Third Quarter Fiscal 2026 Earnings question-and-answer session.
I'm joined this morning by Nico Catoggio, our COO. Rob is unable to join us today as he is feeling under the weather and Daniel is actually with his wife who is going into labor. Before I turn the call to Nico, though, I want to remind you that this call is being recorded, and an audio replay will be available on our website at postholdings.com.
During today's call, we make forward-looking statements, which are subject to risks and uncertainties that should be carefully considered by investors as actual results could differ materially from these statements. These forward-looking statements are current as of the date of this call, and management undertakes no obligation to update those statements. The press release and written management remarks that support today's call are posted on our website in the Investors section.
This call will discuss certain non-GAAP measures. For a reconciliation of these non-GAAP measures to the nearest GAAP measure, see our press release issued yesterday and posted on our website. With that, I will turn the call over to Nico.
Nicolas Catoggio: Thank you, Matt. Good morning, and thanks, everyone, for joining us today. Our third quarter results were slightly ahead of expectations, driven by stronger-than-anticipated performance in Foodservice, and we are maintaining the midpoint of our fiscal 2026 adjusted EBITDA guidance while narrowing the range.
From a capital allocation standpoint, we repurchased 4% of our outstanding shares, bringing our total fiscal year-to-date reduction to approximately 17%, while maintaining leverage within our target range. Looking ahead, we believe it's important to provide early context for fiscal 2027. After adjusting our fiscal 2026 outlook for approximately $80 million of items affecting comparability, we enter fiscal 2027 with a comparable adjusted EBITDA base of approximately $1.48 billion.
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