3Q:F26 consolidated sales of $861.3 million declined 8.1% year over year and were below our $927.2 million estimate, while adjusted EPS of $1.35 compared to our $1.92 estimate and $2.37 in the prior year period, reflecting a more normalized Tobacco operating environment and continued margin pressure in Ingredients. Tobacco performance remained resilient despite an elevated prior-year comparison. Segment operating income declined to $84.0 million from $102.6 million in 3Q:F25 as shipment volumes normalized and pricing reflected a more balanced global supply environment, though results held up well relative to last year's stronger supply-demand backdrop. Ingredients profitability remained pressured. Revenue declined modestly to $81.3 million, and the segment reported an operating loss of $0.1 million versus operating income of $3.7 million last year, reflecting higher fixed costs, product mix dynamics, and broader market headwinds. Liquidity remains solid following the refinancing and upsizing of the senior unsecured credit facility. The facility was increased by $250 million during the quarter. As of December 31, 2025, net debt was $995 million compared to $945 million in the prior year period, and total liquidity totaled $917 million. We revise our forward estimates to reflect 3Q:F26 performance. For F2026, we lower our sales estimate to $2.937 billion from $3.012 billion and reduce our adjusted EPS estimate to $4.17 from $4.74, reflecting lower gross profit in Ingredients and a higher effective tax rate. For F2027, we reduce our sales estimate to $2.941 billion from $3.042 billion and lower our adjusted EPS estimate to $4.40 from $4.61. We introduce F2028 sales estimate of $2.998 billion and adjusted EPS of $4.61. We maintain our $78 price target on UVV shares, based on 17x our newly introduced F2028 (previously F2027) adjusted EPS estimate of $4.61. The company's consistent free cash flow generation, conservative leverage, and reliable operating performance continue to support our moderate risk rating.