Scott Santi: Yes. And that’s been an active strategy for the last – really coming – really from before COVID. So some of it is coverage, some of it is programming. When you actually service the equipment you sell, we have lots of opportunity to integrate service offerings at the point we sell the equipment, which is part of the – why we think this is a big competitive advantage for us. So it’s essentially all of the above, but there’s no way to do service remotely. So we got to have service techs on the street. We’ve got, I think, north of 1,500 in North America and the same in Europe. And given the profitability of the business and how much runway we have we’ll certainly continue to invest. That’s part of what Michael talked about; continue to invest in our organic growth strategies that’s certainly a good example.
Joe Ritchie: Yes. Okay. Great. And then maybe one last question just on M&A. Just any comments around the pipeline today, what you’re seeing and whether there’s been any movement since you last updated at Investor Day?
Scott Santi: Yes, I’d say that there’s been no change. We continue to get sort of apple flow in terms of people wanting us to take a look at things. And as we’ve talked about for a long time and certainly updated at our Investor Day, the aperture through which we will strike on those opportunities is pretty narrow given all the potential in our core business, but we’ve done MTS recently, and we will continue to opportunistically be aggressive. But from the standpoint of overall flow, is it up or down, I’d say it’s been pretty stable.
Joe Ritchie: Okay. Great. Thank you.
Operator: And your final question comes from the line of Julian Mitchell from Barclays. Your line is open.
Julian Mitchell: Thanks. Good morning. Maybe a question first off, just around the cadence of sort of Q3 versus Q4; anything to call out there when you’re thinking about margins or the top line, particularly in the context of that destocking that you mentioned? Thank you.
Michael Larsen: Yes. I think, Julian, I think I said this earlier, we do expect as we typically do, if you look at our historical sequential lift from Q2 to Q3 of about 1%. The thing to keep in mind is that Q3 has one less shipping day relative to prior year and relative to Q2, so that is going to have a little bit of an impact. So don’t expect a big jump here in Q3. But certainly based on current run rates, some progress on the top line, progress on the bottom line with margin expansion. I think we talked about that somewhere along the lines of 50 plus basis points from Q2 to Q3. And I might just add that in terms of our typical cadence kind of first half, second half, if you look at our full year EPS, we’re typically 49% to 51%, and we are – as we see today, right in line with that, based on our – if you look at our $4.81 GAAP EPS for the first half the midpoint of our guidance of $9.75, you can calculate what’s left to go, and you’ll see it’s a lift from the first half to the second half.
That’s right in line with our historical averages, which gives us a lot of confidence as we head into the second half here.
Julian Mitchell: Thanks very much, Michael. And maybe just my second question or follow-up would just be around when you’re thinking about the sort of market share gain efforts across the company. Volume growth year-to-date very muted or negative; do you still think you’re getting some share? Or was the sort of the share gain maximized really two, three years ago when competitors were supply constrained and now we’re in a normal supply chain environment, the sort of share gains have dried up largely? Thank you.
