Two, the ease of doing business with some of our customers. Some need heavy handholding. Some are very easy to do business with, right? So there’s a lot of criteria that we have used to develop this matrix, a complex matrix and a model that we’re going to use to price, all future work, right? So that doesn’t include all the existing work. For the existing business that we currently have, we’re continuing to do our quarterly account reviews and looking at almost SKU by SKU and then say what our profitability is and what should our profitability be for each of these accounts and each of these bodies of work that we currently perform for our customers. That’s a long-term process, as you can imagine. So eventually, everything will lap over the next couple of years.
But all the new business that we’re beginning to coat in the second half of this year are based on the new pricing framework going forward.
Timothy Moore: Great, Jack. That’s helpful to hear. The rolling basis plus, the existing in the future being implemented already. At Investor Day, I believe you might have stated that there’s about $115 million of new sales opportunities, I guess, signed or won the last 18 months, maybe averaging about $20 million per quarter. Everyone is familiar with your battery thermal management win, and it sounds like there might be another customer there for Hazel Park. But if you kind of look at your wins and maybe that $20 million a quarter the last few quarters, would you say that a lot of that’s in EV-related charging? Or is it more also beyond that battery thermal management into wind, solar, energy grid infrastructure. What are the kind of recent conversations you’ve been having in potential customers for emerging technologies revenues?
Jagadeesh Reddy: Yes, it’s a good question as well, Tim. We continue to focus on energy transition as a secular team within the company. And then we’re continuing to look for opportunities where we can now win additional business, whether it’s in charging infrastructure, whether it’s solar or other renewables. But I can say so far, majority of the wins have been in battery electric vehicle management applications, whether it is through that 1 customer we talked about or through our existing customers in CV and power sports and others where they’re electrifying their platform. So major of the wins have been in BEDs, whereas we continue to pursue opportunities in both charging infrastructure and also solar and other renewables.
Timothy Moore: Great. So one last question, and this is more so maybe for Todd. So if this year has $5 million to $7 million maybe of underabsorbed costs turning on EBITDA from the Hazel Park ramp-up, is it fair to assume that next year might be only $1 million to $2 million with none in the second half as you kind of reach that $100 million sales run rate in the fourth quarter possibly next year as utilization plans?
Todd Butz: As Jag mentioned earlier, we were not at a point yet to provide specific guidance on ’24. But certainly, a lot of the projects that we have won really don’t watch to mid even in the back half of next year. So there will continue to be a drag in the first half, I would say. But as you really, we exit the year, we’re confident we’re going to exit at that $100 million run rate. And at that point, I wouldn’t expect to see any sort of negative impact on that facility. But at this point, again, we’re not in a position to really give more specific guidance as to the cadence of that. But I think your comments are fair. Generally speaking, I do expect it to be better next year from an underabsorbed position. But at what point is still we have to go through the details.
Timothy Moore: Do you think, Todd, just given maybe the macro slowdown, that you won’t move as much stuff over to Hazel Park from some of your other facilities in the first half of the year besides the contract wins, but just existing business you might move?
