Stephen Powers: Okay, great. Sorry, operator, cut out there for a second. Two questions. The first one is on the ERP program and progress there and how things have gone since that rollout started. If I’m not mistaken, 2023 projected costs dropped from about $100 million at the midpoint to $75 million this quarter. Capitalized costs also dropped, and the amount embedded in adjusted EBITDA went from $26 million to $17 million quarter-over-quarter. So, is that — First of all, hopefully those numbers are right. Tell me if they’re not. But if they are, does that constitute savings that you’re finding, or is that early delays in the rollout, and how should we think about that as we look forward? Thank you.
Steve Kinsey: Yes. Steve, it’s really more of a shift in cadence. Overall, the total cost of the project is still estimated in the range we’ve disclosed in the queue, which I think is around $350 million or so on average. And completion of the project is still scheduled for 2026. So, total costs remained the same. But you’re right, we did shift that. Part of that was driven by the fact, if you recall, we rolled out ERP to two bakeries. We’re trying — we’re pretty close to getting through all, working out all the kind of the bugs, if you will, on the rollout. And we’ll pick back up with other bakeries starting next year. We did have some scheduled for the back half of this year, but we decided to change the cadence slightly in that regard.
And then also back to Bill’s question on California. We’re having to shift a few resources within IT and the business to working through the model we’ll be deploying in California. So that, we thought it was more prudent to shift the cadence of ERP given that focus. That way, hopefully we can do both projects well.
Stephen Powers: Okay. Okay, that makes sense. Thank you for that. And then the second question I had was actually on Terry Thomas’ appointment as Chief Growth Officer back in August. I know, Terry reports to you, Ryals, but love a little bit more perspective on what his team looks like and how he’s integrated himself and his broader role, or how the company has just within broader business operations. How does the Chief Growth Officer sort of interface with the rest of the business, and how does that change planning and just day-to-day execution as the company goes forward?
Ryals McMullian: Yes. Good question. So, we’re really excited about this role. This was a direction that I had wanted to head eventually. And frankly, fortunately for us, the opportunity came along a little sooner than I even thought it did. So, the makeup of Terry’s team essentially, he’s overall the brand teams, marketing, consumer insights, innovation, revenue, growth management. So, really all of the — all of the growth levers that we have are under Terry’s preview. And then, of course, Heeth is the President, Chief Operating Officer. Heeth has all the operations of the business firmly under his umbrella. And so, those two gentlemen will obviously be working very, very closely together. Yes, you mentioned planning processes.
I don’t think anything is going to change immediately, but we are working on improved processes relative to planning that I think are only going to help us just overall from a sales execution standpoint as well as a demand planning standpoint. And then finally, of course, Terry will be working closely with me on finding new revenue streams, both organically and via M&A. He’s a very accomplished executive, as you can see from his CV, and we couldn’t be more thrilled to have him on board.
Stephen Powers: Okay. Thanks, Ryals. And thanks Steve as well.
Ryals McMullian: Yes. Take care, Steve.
Operator: Our next question will come from the line of Mitchell Pinheiro with Sturdivant & Company.
Mitchell Pinheiro: Hey, good morning.
Ryals McMullian: Hey, Mitch.
Mitchell Pinheiro: So, a couple questions. First, why do you think the promo activity is below average with the consumer kind of getting pressured? I think grocery and retail would be a little more interested in seeing some volume turn positive in the category. So, why you think it’s sort of down or below average? And wouldn’t you anticipate down the road here in a quarter or two to see a little more heightened activity?
