Sam Darkatsh: Terrific start to the year, especially with the difficult operating environment. My first would be, I mean, I guess, virtually all of the major residential window and door manufacturers have recently announced low to mid-single-digit price increases earlier this year for the first time in a little while. And I guess, dealers in the channel are also indicating the same for the garage door industry as well. What’s prompting the move? Is it more sticky like labor and conversion rates? Or is it more cyclical like input cost inflation? And when do you see this hitting the HBP P&L? And I’ve got a follow-up also.
Brian Harris: Sure. So as far as our own business, we have had no real change in our pricing structure, except for some minor price increases on operators, which is a small part of our business. In general, we’re seeing — our expectations for the year is that input costs will be roughly flat. And if that’s the case, our prices will remain steady. However, if we see increased input costs, we will react accordingly.
Sam Darkatsh: Got you. And then my last question. There’s obviously lots of increased attention on potential new tariffs on Chinese sourced products. Have you determined yet your new contract manufacturer partners within CPP? And how much exposure do you ultimately think that you’ll have to China once the conversion is complete?
Brian Harris: Go ahead, Ron, sorry.
Ronald Kramer: So initially, we are going with partners that we have in China. We’ve been working with them for years, supporting our Australian and U.K. geographies, which are already asset-light models. Ultimately, we’ll react to any changes in tariffs by considering other providers and sources across the world. And last, all our competition is generally making product in the same location.
Operator: [Operator Instructions]. Our next questions come from the line of Justin Bergner with Gabelli Funds.
Justin Bergner: Very nice quarter. The capital allocation going forward, the statements seem to change a bit in the press release to one of driving a capital allocation that will deliver long-term value for our shareholders versus one that is prioritizing repurchases from the press release a quarter ago. Maybe just can you elaborate if there’s been any small change in your priorities there?
Ronald Kramer: No. No change.
Justin Bergner: Okay. Great. And then my follow-up question or second question. In Home & Building Products, can you comment on how the backlog developed over the quarter? And any trends in the backlog? I know you said that orders improved.
Brian Harris: Generally, backlog remains at normal levels or said another way, our lead times are generally normal.
Operator: Thank you. We have now reached the end of our question-and-answer session. I would now like to turn the floor back over to Ron Kramer for closing remarks.
Ronald Kramer: Thank you all for joining us, and we look forward to speaking to you in May.
Operator: Thank you. This does conclude today’s teleconference. We appreciate your participation. You may disconnect your lines at this time. Enjoy the rest of your day.
