Mark Sheahan: Yes. So I mean, if you were to look at the business in CED, I mean, there’s a ton of moving parts, right? We’ve got the pro paint side. We have the tradesmen, high-end DIY side of the business. We have spray form. We have protective coatings. We have line striping. We have stucko and texture. We have all kinds of different segments within contractors. So in any one of them, they might be up or they might be down. I would say that generally speaking, when you read all the headlines about how bad it is in the housing market and the uncertainty around all that, I feel pretty good about how our businesses performed this year. For sure, Protective & Marine, protective coatings, spray foam, anything in what we call our high-performance coatings and foam business has been good.
The Pro business has held in there better than what I think most people would have expected. And the home center has been tough. So when you get outside of North America and you start talking about Europe, I think the Pro business has held up pretty well on a year-to-date basis. And when you look over in Asia, I think it’s really limited — the weakness that we’ve seen has really been limited to China. And there’s 2 things there. One is the container business where they put coatings on to containers for — they go on to ships for cargo. That business has dropped pretty significantly. So we’re just not selling as much equipment there. I actually ran the business for a while. So you live through these periods where it’s up and then it’s down at kind of in a down period.
And then in China, I was over there about a month ago, and the construction market over there has really softened quite a bit. You drive around the city and you’d see cranes, but you would see no activity at all around the cranes, which is vastly different than what it was when I was over there 4 years ago. Unfortunately, it had been that long because of the pandemic. But 4 years ago, you’d see cranes, but you’d see all kinds of stuff happening. So it’s really not too surprising that our business has kind of played out the way that it has.
Operator: Our next question comes from Matt Summerville with D.A. Davidson.
Matt Summerville: Can you, Mark, can you maybe help me kind of square the comments you made just on the Powder finishing business, Gema as you kind of talk about backlog being healthy, but projects may be pushing to the right adverse timing. Can you just provide a little bit more detail as to what you’re seeing there?
Mark Sheahan: Yes. Good question. So there’s really — at a really high level, there’s kind of 2 big pieces to the Gema business, one is our Powder systems. And the other are the equipment side, packages and guns and accessories and those types of things. And what — we acquired a business, I don’t know, half a dozen years or so ago, that really focuses on the Powder systems side of the business. And in particular, they make conveyor systems for vertical line coatings. And these are aluminum extruded materials that are used in a lot of different applications. And those extruded aluminum pieces get coated with Powder Coatings, and they’re a large user of gama equipment. And their business has been softer than what we experienced over the last couple of years.
So there’s a little bit of volatility there in terms of the overall results within the Gema Powder business. I would say that the other side of the Gema business has been actually pretty good. Anything standard equipment, distributed product, parts and accessories is sort of mirroring what we see on the other side of the Graco Industrial businesses, which are liquid finishing and Sealants & Adhesives. But the systems business can be kind of lumpy. And we still have some orders in the backlog that hopefully will ship between now and the end of the year. But it does create some — a little bit of volatility on a quarterly basis. We do try to factor all this into our annual revenue guide outlook. And so knowing what we know about the backlog and what’s going to ship out of Powder for the rest of the year, we feel pretty confident that we’re still going to be able to hit those numbers.
