I mean we all kind of think that way. So that’s what I’m looking for – I mean it’s a very volatile situation right now. I’d spend more time paying attention to the 10-year than what the Fed says, because that 10-year is really what drives mortgage. And a 10-year skyrocketed a month ago. And then last week, it came down significantly in a week, and so that’s a lot of volatility and probably similar to stock market. It’s just people tend to stop doing stuff when it’s like that. I don’t think that’s a normal world that we’ll live in for a long period of time, but it is the way we’re in this week.
Alex Hantman: Yes. Super helpful. I appreciate the color there. And you’re talking about a number of strategic initiatives today, plant forward, cloud migration, supply chain and tech platforms. Just curious, as you look across the strategic initiative portfolio, is there something you think will be most impactful to the 2024 P&L?
R. David Banyard: Yes. I think the most impactful thing that we do day in and day out, which is, I’d say, now embedded in our culture, but it spreads itself out into these initiatives. Is that lean culture and the continuous improvement culture that we’ve driven over the last 4 years. This is an organization that’s great at problem solving. And every issue even day-to-day issues, but strategic issues always have problems to solve. And the team has done a wonderful job of learning how to do that in a very crisp and fact-based way. And that’s that helps drive these projects forward, because when you run into a roadblock which you invariably do and anything you’re working on that’s complicated, problem solving really helps you get to the core of why you’re at that roadblock, and it helps you come with solutions to get around that road block.
So I think that underlies everything we do. It’s the culture that we have as an organization and I think that’s going to – not only does it help drive tangible dollar savings, but it also helps move things forward at pace. And that’s always key to do that, so that you can get out in front of whatever issue you’re facing. But I really am excited about the tech initiatives that we’re working on. I think they’re all focused on how do we grow this business beyond the market growth rate. Some of them take a little longer to germinate when you plant them, but some of them are direct impact. And I think we described those things today in our prepared remarks, and we’re excited about them.
Alex Hantman: I appreciate the context there. And last one for me. Should we be expecting somewhat similar pacing with respect to buybacks over the next couple of quarters?
R. David Banyard: Yes. I think the – we’re still kind of working through our forward look on capital deployment. I think as I look at our capital deployment priorities, first and foremost, it’s invest in the business. We think we have some great investments with great return. Secondly, is to continue to focus on our debt position, which – for us, I think we’re in a really good spot right now. I think we have a great balance sheet. But I think that’s always prudent in a market that’s uncertain. It’s just – it’s a great way to bolster yourself in the face of what we don’t know is going to happen in front of us. So those are the top two priorities in terms of returning cash to shareholders, I think the way we look at the market is if we think we’re a cheap stock, we’re going to keep buying it. We think it’s a good investment.
Andrea H. Simon: Just for a point of reference, I save you some time we have about $35 million left on the currently approved program as of the end of the Q3.
Alex Hantman: Thank you, very helpful. That’s all from me.
Operator: There are no further questions at this time. And I would like to turn the floor back over to Farand Pawlak for closing comments.
Farand Pawlak: Thank you, operator. Thank you, everyone, for joining us. We appreciate your interest and support and look forward to speaking with you in the future. This concludes our call.
Operator: Thank you. [Operator Closing Remarks]
