Glenn Coleman: And Elizabeth, on your question around Q1. Obviously, we’re two months now into the quarter. I would say, first and foremost, we’re much more positive around Q1 than where we were just a few months ago. So the fact that we’re talking about putting up organic growth in Q1, I think, is a positive. We do expect to see really strong growth coming out of the Ortho portfolio. January was a record month for SureSmile, which was a pleasant surprise for us. So that momentum is continuing. CAD/CAM should also have a very strong quarter given where we are with the dealer inventory levels in the US, along with the success we’re seeing with Primeprint. So on the whole, we’re looking at Q1 more positively than we were, say, a few months ago with growth coming from Ortho and CAD/CAM.
Obviously, we’re still seeing headwinds in China. So we are modeling a pretty sizable decline in China in Q1, but that should improve after we get past Q1. So that’s the Q1 story. FX will be a pretty large headwind still in Q1. We modeled out right now $40 million based upon where rates are currently. On a full year basis, we expect organic growth to be down 1% to up 2% organically, again, about a full point on the top line relative to the FX headwind and EPS of $1.82. I would just say, the way we’ve modeled our full year outlook is expecting a stable environment, patient volumes to be stable. Regionally, we’ve made a number of comments in our prepared remarks around improvements we’re expecting in both China and the US, which have been big challenges for us in 2022.
So US should be up on a full year basis, slightly China flat, coming off of a quarter that’s going to be down in Q1. And then Europe should be flat to maybe down slightly and then growth coming out of rest of world when you exclude China and Latin America. So, on a whole, that’s how we see the regions playing out. And again, if you look at the portfolio, aligner should show really good growth year-over-year. Implants should be improving and CAD/CAM should be growing. So, on the whole, that’s how we’ve laid out our outlook. I would just say an important point I made, and I wanted to ensure that everyone heard it is when we look at our top line, we expect on a constant currency basis that the second half of the year will be slightly higher than the first half, which means the year is not back-end loaded in terms of the top line.
However, for EPS, keep in mind, our restructuring savings will not kick in until probably the latter half of the second quarter, which means EPS will be back-end loaded. And I would just say directionally I’d bottle about 40% of our full year EPS in the first half of the year and 60% in the back half of the year. So hopefully, that gives you a little bit of color around Q1 and our full year. Thanks for the question.
Elizabeth Anderson: Thanks so much.
Operator: Thank you. One moment for our next question. And tt comes from the line of Brandon Couillard with Jefferies. Please proceed.
Brandon Couillard: Hey, thanks. Good morning. Simon, on the 2025, 2026 target of $3 EPS. Just help us understand how you got comfortable putting that target out there today, especially right in front of a pretty major restructuring program.
Simon Campion: Yes. So, I would say, Brandon, good morning. I would say that, again, we alluded to it in our prepared remarks, between the restructuring and a lot of other activities that we have underway including the SKU rationalization and driving plans and network efficiency. We got comfortable with that projection pretty quickly. In fact, we — I think we put that out at the JPMorgan meeting in January. And we have confidence that we’re going to achieve it with all the levers that quite frankly, we do have our disposal to get to it. Glenn, I don’t know if you have any further comments, I think.
