Mircea Dobre: I appreciate that. Then I guess my follow-up would be, you talked about the fact that there is a divergence between the demand that you’re seeing and PMIs in the industrial business, that’s obviously obvious to everyone at this point. But I’m curious, as you’re kind of analyzing your order intake, how much of that do you think can be attributed specifically to these higher-growth verticals rather than customers that have significant backlogs that are just now trying to increase production after normalizing the supply chain?
Lee Banks: I would be — that’s not something I can answer here on the call. I would just tell you anecdotally, some of the customers that we’re participating with today are at a different level than we participated with them before, and that’s due to the portfolio changes. But I can’t answer that right off the cuff.
Operator: And one moment for the next question. The next question will come from the line of Stephen Volkmann of Jefferies.
Stephen Volkmann : Maybe I’ll stick with you, Lee, here because as I hear you lay all that out, it sounds like the maybe even said, I mean, it was quite tilted to the positive. And yet I look at kind of what’s embedded in your organic guide for the second half. And I guess it looks like the exit rate is going to be sort of close to zero on organic growth. Maybe you disagree with that, but I’m just curious, would you sort of characterize this as a little bit conservative or careful given the economic outlook? Or is this really kind of a bottoms-up kind of forecast that you have for the second half?
Todd Leombruno: Steve, this is Todd. I’ll give Lee a chance to catch his breath a bit. There is a lot of positives. We see demand broad-based across the business. Obviously, we talked about North America. We did increase the North America organic guide basically doubled it, was 2.5 — this is for the third quarter, I’m speaking, it was 2.5. We moved that to almost 5. For the third quarter, I think I was clear on the guidance. We think it’s going to be about 4 organic growth. Q4, a little bit of comps come into play there. Your rough math is pretty close. We think maybe 1% organic growth in Q4, second half really is 2.5 when you look at the total. So there are some headwinds out there. I think we’re being a little cautious in what we’re seeing here.
And at this point, it’s the best look that we got. So the international piece, I think we gave some color on that. Currency is still not as bad, but still pretty hurtful. You look at the second half, it’s about a 1.5% drag for the total company, but almost a little over 4 for the International segment. So that’s kind of how we rolled up the numbers and that’s the way we feel right now.
Stephen Volkmann: Okay. Fair enough. Just to follow on to that, though. I mean, it would seem, Todd, that you could get that level organic just from kind of pricing rolling its way through. And any comment on that?
Todd Leombruno: Well, we don’t give a lot of color on pricing there, but you could tell it’s in the organic number. So that’s totally in the guide that we just laid out.
Operator: And one moment for our next question. And our next question will come from Josh Pokrzywinski of Morgan Stanley.
