Bill Christensen: Yes. So, as we’ve kind of discussed in the prepared remarks, our expectations, obviously, for the retail segment to be kind of down mid-single digits. There’s a seasonal downtick in Q4 that Julie talked through when she was talking about kind of our sequential EBITDA margins, which is normal in the industry. But based on what we’re seeing and the comps, we don’t feel that we are way out of the pocket of the general market. So, I’d say we’re trending in line with the general market. And we participate, obviously, in a number of different channels and geographic regions. So, there was some discussion, and we had this discussion on the last quarterly results call. We actually did see some opportunities in Europe, and we were gaining some share because some competitors have overextended themselves in a pretty volatile environment, and we’re not able to support the customers, as the customers want it.
So, there was some transfer of volume to our production sites in a number of different countries across Europe. So, some of the cracks are starting to show. And we’ve been benefiting from that just based on our size and our scale and presence. But I’d say, in general, we’re definitely in line and tracking with the market and what we’re seeing.
Andrew Azzi: Thank you. That’s helpful. And then maybe if you could comment on capacity utilization in your sense for how the overall industry is tracking there?
Bill Christensen: Yes. So, we wouldn’t share that kind of detail. The one thing I can say, and this is what we just talked about also with Susan’s question is that there’s a lot of opportunity for us to kind of optimize what we’re doing from a global supply chain standpoint, and rebalancing our supply chain and cost to deliver products into different market segments. So, automation will really help. I think in general, or I know in general, clearly, there’s a utilization issue around the world in building products because volume is soft. It’s down year-over-year. We expect that trend based on current expectations to continue into Q4. So, there is excess capacity. But I feel that we’ve done a good job of managing that market reality, holding price and taking care of our homework on the cost side to overdeliver on the EBITDA, which is what we’re focused on and pretty happy with this quarter.
Andrew Azzi: Thanks Bill and congrats again on the strong results.
Bill Christensen: Thanks Andrew. Have a good day.
Operator: Our next question comes from the line of Steven Ramsey with Thompson Research Group. Please go ahead.
Steven Ramsey: Hi, good morning.
Bill Christensen: Hey Steven.
Steven Ramsey: On the Phase 2 key levers, the growth performance bullet point there, there are three of them which is the biggest mover, maybe which of these is the fastest to achieve? And maybe which of these do you feel is the furthest along at this juncture?
Bill Christensen: Yes, I think there’s different levels of maturity just based on kind of where we are, what segments we’re participating in. I do think that sales force efficiency is an opportunity in general, just to do things more effectively. So, that’s clearly an opportunity. But there’s a lot of different things that go into improving sales force efficiency, training, better segmentation, et cetera, and those are not short-term levels, there’s a midterm levers. Definitely, our go-to-market process and what we’re doing around pricing are going to be more of the short-term levers. As we look into how can we balance then the time zones of the opportunity and the benefits that we see in the sequencing that we’re going through. So, this is also part of our sequencing process to make sure that we’re balancing resources against benefit and kind of time and complexity to achieve.
Steven Ramsey: Okay, helpful. And then when I think about productivity benefits clearly much better in Q3 than Q2. Can you talk about kind of maybe not quantify, but the that component of EBITDA improvement is going to be as significant in the fourth quarter and into early next year? Or is that something that moderates as we move forward?
Julie Albrecht: Yes, I would say in the fourth quarter, I would expect probably actually higher productivity. You combine productivity going on, quite frankly, day-to-day in the business, as well as the more explicit cost savings actions that we’ve been taking and talking about with, again, site closures, headcount reductions, other types of cost reduction activities that are more, call it, intentional and maybe call it higher level project base versus, again, that day-to-day blocking and tackling of productivity going on across the operations. So, bottom-line, we would expect that productivity to accelerate from Q3 into Q4. And like I mentioned before, I mean that really is important, right, as we face these demand headwinds that we’re talking about for Q4 and again, noting that we don’t have the same level of price/cost benefit that we’ve had earlier in this year.
So — and going into next year, I mean, I’m not going to quantify what we expect yet for next year. But again, as we’ve been talking about today and before, we continue to view there to be a lot of opportunity to improve our profitability. And a lot of that does center around productivity and cost reductions as well as some of the growth items Bill has mentioned as well.
Steven Ramsey: Excellent. Thank you.
Bill Christensen: Have a good day.
Julie Albrecht: Thank you.
Operator: Our next question comes from the line of Alex Rygiel with B. Riley. Please go ahead. your line is open, please go ahead.
Alex Rygiel: Thank you and good morning. As it relates to the three facility closures, is there any anticipated revenue loss from those?
