Sales grew 12.4% YoY to P$57bn, above our estimates, on the back of solid and better-than-expected growth in U.S. and South America; Mexico, on the other hand, reported flattish results and in line with our estimates. Consolidated volume contracted 3.1% YoY, on the back of negative performance across most categories and all operating regions, and a 2% decline in Colas. Pricing and FX tailwinds, on the other hand, contributed to top-line performance; sales grew 2.2% on a currency-neutral basis. On a profitability level, results were slightly above our cautious estimates. Starting at the gross margin, AC slightly outperformed our estimates, as YoY contraction was softer than previously expected. EBITDA margin closed at 18.7%, a 40bps YoY contraction, and 30bps above our estimates. Higher marketing and maintenance expenses and FX headwinds contributed to the contraction. From a segment perspective, Mexico reported sales growth of 0.1% YoY, amid total volume contraction of 3.6% YoY, and a 5.3% average price per UC increase. Profitability declined, with EBITDA margin contracting 140bps YoY, reaching 20.8%. In the U.S., volume contracted 5.6% YoY, partially offsetting FX tailwinds, while sales grew 21.6%. EBITDA margin expanded 40bps YoY, to reach 15.7%. In South America, volumes contracted 0.7% YoY, while sales grew 25.4% YoY supported by strong performance in Argentina, while EBITDA margin reached 19.9%, a solid expansion YoY. We reiterate our P$245 PT and Outperform rating; we highlight that while results were mostly in line or above our estimates, consensus was higher on some metrics.