Kevin Caliendo: Can I ask a follow-up. When it comes to PPE, can you maybe talk about where the pricing is in the marketplace? And maybe more importantly than pricing, how is your competitive positioning in your opinion, changed, if at all, over the last 6 months or 9 months as these inventories have built and are now coming down. Are you seeing any additional competitive pressures from sourcing outside of the United States or anything else? Just help us sort of understand what – how the market dynamics are playing out for you in your opinion?
Alexander Bruni: Yes. In my view, I think we’ve seen prices stabilize. We saw a rapid decline in price in 2022, but through ’23 here, they somewhat – I would say, in essence, they’ve stabilized and so that’s where I would say they are right now.
Kevin Caliendo: And just from a positioning perspective, are you – do you feel like in terms of share or in the reordering that you’re seeing, is it as you’re expecting in terms of your share of that? Or…
Alexander Bruni: No, the mix hasn’t changed.
Kevin Caliendo: Okay. Great. Thank you, guys.
Operator: We’ll take our next question from Michael Turney at Bank of America.
Michael Turney: Thanks so much for taking the question. Maybe if I can follow up a bit there. Obviously, a lot of moving pieces, both within your control and without. Can you maybe just give us some sense on risk weighting the various components as you build that back half ramp? I know you’ve been adamant about the ramp over the course of the year. It seems like relative to at least where consensus is that the 3 to 4 jump up a little steeper, so curious how we think about where you have the highest degree of visibility where you think there’s still items that are out of your control that you’re waiting to make sure come through, especially maybe on PPE pricing for one?
Alexander Bruni: Sure. Yes. I think the clearest line of visibility is our Operating Model Realignment savings. Like I said, those are completely locked in. And then I think there is a high level of confidence also in the seasonality and this the continued strong performance across all the segments in Patient Direct, where I believe we continue to win business and continue to generate operating leverage in that business. I think in our Medical Distribution business, we continue to have momentum with growth, so higher level of confidence there. And I think I was trying to be clear that the one area that’s still difficult to put an exact pin on it is, when does destocking? And when I say destocking, not just had a customer, but other distributors that sell our product because they bought a tremendous amount of ours as well as other products in the market and that flushing through.
That’s the one variable that, again, we don’t have complete control over as well as 100% visibility on. So waiting and that’s the one I would put as the risk back to the other four or so pretty – very high level of confidence in them.
Michael Turney: I guess on that last risk factor, sorry to harp just on the most negative part, but how do you think about the proof points you’re looking for just because no one could have predicted the pandemic. No had predicted the roller coast that we’ve seen on demand on PPE. You went out of your way to service your customers incredibly well in terms of delivering what was needed. We’ve all been wondering to figure out when are we going to get to the new normal and what that is. And so especially with your look into not just your direct customers, but also the distribution side, what are the proof points you’re looking for to call success called victory there?
