Ryan Sigdahl: Great. Last one for me, just on the industry out production. So, even if you adjust for the various FX and Alfmeier and the one-time kind of the spot purchases last year, I mean 400 bps of outperformance, you guys have been trending quite a bit better than that. You had award kind of book-to-bill a lot higher in the past several years. I guess curious if there’s anything else in the quarter to call out, because there was a little bit of a decel.
Phil Eyler: Yes, we kind of look at it as 400 basis points of outperformance, year-to-date 600 basis points. And essentially, most things happened as expected. The one thing that was an anomaly was related to a couple of Japanese OEM customers. We have [factory] (ph) that had some pretty significant production downtime for various reasons. And then there’s a couple of vehicles that are ICE sedans that last year we had some pretty high content, they’re changing out those vehicles. So it’s a little bit of a timing issue. We expect all that to normalize and expect to continue our outperformance trends.
Ryan Sigdahl: Thanks, Phil. Good luck, guys.
Phil Eyler: Thank you.
Operator: Our next question comes from Glenn Chin with Seaport Research Partners. Please go ahead.
Glenn Chin: Good morning, folks. Thank you. Hello?
Phil Eyler: Hey, Glenn.
Glenn Chin: Thank you. Hello?
Matteo Anversa: Good morning, Glenn.
Glenn Chin: I got a couple more follow — hi, Matteo. I got a couple of follow-up questions on bookings. See, you mentioned that you’ve had six conquest pneumatic and lumber awards since the acquisition. I don’t recall the exact wording in the press release, but it seemed to allude that they are revenue synergistic, meaning that they would have been less likely to happen with Alfmeier on its own. Can you confirm that? Is that — is my reading of that word incorrect?
Phil Eyler: Yes. I think you stated it perfectly.
Glenn Chin: Okay. Very good. And I think you said that the majority of the bookings were thermal comfort wins versus pneumatic. Can you give us the split between the two this quarter as well as last quarter?
Phil Eyler: No, we haven’t been splitting that, but definitely, this quarter was the majority thermal. And we were actually really excited about that because the pipeline of pneumatic awards is really strong. We pointed out that the Stellantis win was in July, so it was outside of the quarter. A lot of opportunities in the back half on the pneumatic side as well. But the confidence I have on our thermal business and the partnership model that we’ve created is very high. We are the largest independent supplier in the space. We can work with any OEM, any Tier 1 seat manufacturer, and I think that is really picking up momentum.
Glenn Chin: Yes. Good to hear. And just a clarification on the breakthrough nature of the Stellantis win. So, is that to say that they were not an Alfmeier and pneumatic customer prior to this?
Phil Eyler: That’s right. They’ve never supplied to Stellantis and pneumatics, yes.
Glenn Chin: Yes. Okay. Very good. And can you just talk to us about your win rate? Has it been — I know it’s been elevated. Has it moved up or down significantly?
Phil Eyler: Continues to be very strong. I think you can look at a lot of the nameplates that we’re winning and many of those are head-to-head competitive wins. So, it’s a very strong win rate.
Glenn Chin: Yes. It seems to run the gamut. Okay. And then last question. So, one of your competitors this morning in their earnings release — in their press release, it seems like they’re attempting to encroach upon ClimateSense’s turf. They say that they’ve agreed with Valeo to explore integration of HVAC and radiant panel technologies with Lear thermal comfort seating technologies to optimize, this is a quote, occupant comfort and user experience while extending EV range. Anything you can tell us about Valeo’s capabilities there? I wasn’t aware that they had?
