And so we really feel like, we need to do this even more so, kind of boosted through things that are in our control. And that’s really the main thrust of the, the why.
Meredith Burns: Thanks, Sean. Okay. I’m going to try to sneak in two more questions before we end this call. So first one’s for Robert. Given the mix shift in Vista, will Vista margins go back to where they were, will mar or will margins be lower than previous years even after recouping higher input costs currency headwinds, et cetera, due to the mix shift?
Robert Keane: Yes, I think it depends. I’m talking about, and the margins we’re talking about, but if I think of segment EBITDA, we certainly believe that Vista can achieve e those in 20 milligrams get over time. Gross margins have shifted and we think that those are more permanent but they often come with lower gross margins, often come with higher lifetime value customers. So we think it’s a factor that we can manage.
Meredith Burns: Great. Okay. And then Sean I’m going to go back to the liquidity topic here from an outlook perspective and from a very near term perspective. So short-term liquidity looks tight without access to the revolver, especially in that there are likely to be restructuring costs around the announced cost controls coupled with this seasonally weak working capital period. And this person says, I think 3Q normally sees something like $60 million in working capital burn in addition to normal expenses. It feels like liquidity could get very tight next quarter. Can you comment on how the company thinks about that? How we think about it?
Sean Quinn: Yep. Yes, sure. So the you know, if, just kind of going back to that picture of what FY 2023 was planned to look like in terms of first half of the year margin impression, second half of the year as we exit, EBITDA expansion if you think about that and would apply it to our liquidity also to our leverage, like he was always our expectation that we’d have increasing leverage in the first and second quarter and then we would start to march down that curve. We had prior commentary that we expected to do lever from last year’s levels. That was before the non-controlling interest payment. So relative to Q3, as I said before, we have sufficient liquidity, $213 million at the end of December. We do seasonally have working capital outflows in Q3.
We’ve planned for that. And the plan had been and continues to be that Q3 would be the, the low point, and then we’d be marching up from there as it relates to the impact of restructuring costs. Typically those are paid over time. And so the way to think about that is as we experience EBITDA savings, the cash flow savings attached to that will be on a delay because we’ll still be paying out those restructuring costs for a number of months while we are starting to experience the, the EBITDA benefits. So that’s how I think about that. So that, that doesn’t for the most part doesn’t lead to some like one, one time large cash outflow, but rather, the sustained kind of cash outflows that we already have in our run rate for longer than we will have those things in our EBITDA.
So hopefully that sets the picture for everyone.
