Phil Ng: Okay, that’s great detail. Really appreciate it.
Operator: Thank you. And one moment for our next question. Our next question comes from Edlain Rodriguez with Mizuho. Your line is now open.
Edlain Rodriguez: Thank you. Good morning, everyone. So quick one on the volume recovery you kind of expected in the second half of the year, can you talk about what you’re seeing in Europe and North America that’s given you a lot of confidence that you will get there? Like which region you think will benefit — where you’ll see the benefit sooner versus the other one?
Kevin Kwilinski: Sure. I would say, we probably were more depressed in Europe in those markets. And I would say we’ve seen more signs of improvement actually in Europe because we’re kind of just starting from a lower point. I feel very good about both markets for us to achieve essentially what for the full year is a flat volume outlook.
Edlain Rodriguez: Okay. And another one. In terms sort of like your guidance, you have that EBITDA guidance. You maintained the same one. Like, how is it, through the first quarter, tracking with your expectations? I mean I know you came short of the consensus numbers, but that doesn’t really matter with what you had expected. Like, was the quarter as expected, or was it lagging your initial expectations?
Kevin Kwilinski: Yeah. Mark can add to this, but to me, the big takeaway for Q1, we saw more resin lag than we expected, and we offset that to a large degree with better cost improvements than we expected.
Mark Miles: Yeah. Overall, both volumes and earnings, like Kevin said, there were modest puts and takes in the quarter. Overall, on all key metrics, it was in line with our expectations.
Edlain Rodriguez: Okay. Thank you very much guys.
Operator: Thank you. One moment for our next question. Our next question comes from Michael Roxland with Truist Securities. Your line is now open.
Nico Piccini: Thanks, Mark, Kevin, and Curt for taking my questions. This is actually Nico Piccini on for Mike. Kevin, to the extent you can comment, when did the discussion with Glatfelter begin? I realize that the review for HHS has been ongoing for a few months now. Is this something specifically Glatfelter something you inherited after joining?
Kevin Kwilinski: I would say — first of all, good morning, Nico. We have had a long dialogue with a number of — about a number of options from, obviously, before I joined through my onboarding, before I joined and then after I joined. And I wouldn’t point out this to be anything older or newer than any of the other opportunities. What I do want to say is that I 100% believe that this is a great transaction for our shareholders, and it positions Berry with a clear path to a future that we can begin executing on immediately. And as the new CEO with a bias to action, I wanted to see us move beyond this chapter and move forward with the core business. And this positions us extremely well for that. So, I fully embrace this transaction, and I think that our shareholders and the market will come to see it’s actually a great outcome.
Nico Piccini: Perfect. Thank you. That’s very helpful. That’s it for me.
Operator: Thank you. It appears there are no further questions in queue at this time. I would now like to turn it back to management for closing remarks.
Kevin Kwilinski: We just want to thank everyone for their interest, and we want to thank our teams that have been working on this transaction long hours and with a great outcome and bringing it to a signing, and we will be looking forward to moving this to close as soon as we possibly can. Thank you all.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
