I mean, is that what we’re looking at? Is the goal here 5 years out, like we’re still were just barely generating free cash flow given the capital intensity of this business? And at what point in the future do you think – will we ever actually get to like a meaningful inflection where there’s better cash generation as a percentage of sales?
Todd Cunfer: Yes. So look, as I said at CAGNY, our expectation is we’ll be free cash flow positive in ’26 and then it’s going to incrementally improve over time. Our expectations are, we try to lay out some targets from a margin perspective that we thought were very attainable. We talked about some – where we thought the upsides were longer term on margins. And we feel like those could come into play over the next several years as well as we just talked about some new technologies we are working on to reduce CapEx over time and to improve profitability. So look – yes, is that free cash flow outlook over the – in the next several years look robust? Not a lot, but we have some clear opportunities past that point to dramatically increase free cash flow.
Jason English: Okay, okay. Thank you. I’ll pass on.
Todd Cunfer: Thanks, Jason.
Operator: Thank you. Our next question comes from the line of Ben Bienvenu with Stephens Inc. Please proceed with your question.
Jim Salera: Hey, guys. It’s Jim Salera on for Ben. Thanks for taking our question. Todd, I guess, first a follow-up on Jason’s question there on kind of some of the cash flow timing. Can you give us an idea, if the first half of the year is essentially going to be very modest EBITDA it can be all back half weighted. Can you give us an idea for the – how you guys will draw on the credit facility and what that will look like kind of going into the back half of the year and maybe expected interest rate?
Todd Cunfer: Yes. So look, we’re – again, we’re in the middle of redoing that credit agreement. So I’m not going to comment on how that’s exactly then get drawn and what the terms are, so more to come on that. You — my job is to get that done, and I’m very, very confident that we’ll be in good shape. There is a couple of different alternatives we have out there, again, more to come on it. Again, we ended with some significant cash at year-end. So that will keep us going for a while. And we’re going to watch every penny of CapEx as the year goes on. So I am fully aware of the cash needs of this business in the near term, and I’m going to go get it solved.
Jim Salera: Okay. Great. And then maybe one for you got Scott. You called out stronger trends among the kind of heavy – super heavy households versus kind of a broader household demographics. Is that driven by just in-stocks finally being at a consistent level? Was there something else at work there that is having the results with the super heavy and heavy households be kind of end of the broader portfolio?
Scott Morris: I don’t think it has to do with in-stocks. I think those are the people that have sought us out over time and actually could be willing to either switch or even change stores. We have a pretty long-term kind of picture of these people. We’ve had really good consistent growth with them over time. And I think what we’re recognizing as we mature is that we want to make sure that we want to focus on those more than ever. There – over 80% of our total dollars, they’re the people that are very, very dedicated to this idea. There’s a lot more of them out there, and we want to base our business even more so focusing on those folks. So I don’t think I have to do with more recent in-stocks. But I think it’s – I guess, it could help. But I don’t think that’s really – that has not been the dynamic we’ve seen historically. We have like a 5 year trend on it.
