Greg Palm: Understood. Okay. And then just lastly, on the core PPS business. I know you talked about September trends. Can you give us kind of some sense of how trends were or have been in October? And it still sounds like you’re expecting some sort of seasonal ramp in Q4, is that right?
Omar Asali: Sure. Yeah. I mean look, and I mentioned it in the comments, this year has been inconsistent. I would say from what I’m seeing from our customers and our own activity, I’m pleased with how we’re executing in Q2 and Q3 of this year. I think it’s noticeably better than how we were executing in ’22 and earlier in 2023. The challenge is the environment, given the choppiness and inconsistencies, honestly, it’s very tough to book three robust months in a row. So in this particular quarter, July and August were very strong months, September was a little bit softer. In prior quarter, in Q2, if I recall properly, I think April was on the soft side, May and June picked up. So we’re seeing that pattern where every quarter, there’s a month or a few weeks of period of softness.
To answer you on October, since we’re at the end of October, October has been a strong month. Now hopefully, that’s an indication of what November and December are going to be. And we’re trying to ramp up and get ready for a busy season. But frankly speaking, the world changes and it changes sometimes pretty quickly, and we’re trying to react to our customer needs. The one thing that I will tell you has been consistent around that period that I think other companies are seeing is no one is in the mood of building their inventory level and ordering and anticipating good activity. Everybody is being cautious. I would say we continue to see customers that prefer to almost run out of product and scramble last minute to get product versus carrying too much on their shelf.
And that dynamic is making it very, very difficult to forecast. But I think we delivered an okay quarter despite a little bit of softness in September. And then October, as I said, is off to a strong start.
Greg Palm: Okay. That’s really helpful. I’ll leave it there. Best of luck. Thanks.
Omar Asali: Thank you, Greg.
Operator: Thank you. Our next question comes from Ghansham Panjabi from Baird. Ghansham, please go ahead.
Ghansham Panjabi: Thank you, operator. Good morning, everybody. Omar, I just want to go back to the volume cadence throughout the third quarter, which obviously has been very choppy as you referenced in the second quarter as well. If you sort of set aside the macro, which is just the obvious and you kind of drill down into some of the micro details in terms of the supply chain, is it just the fact that maybe customers destock inventory aggressively previously and that’s sort of been optimized and now we’re just sort of reflecting just month-to-month volatility from a macro standpoint? Or what do you attribute that towards?
Omar Asali: Yeah. I think destocking, Ghansham, and good morning, is largely behind us with very, very few exceptions. We’re not seeing that as an issue anymore, frankly, globally. So that applies to APAC, to Europe and to US customers. I think what we are seeing is a little bit of nervousness in the company level, a little bit, obviously, and it’s related to what’s happening at the consumer level and industrial activity. And I think you’re seeing some of that volatility where people do not want to carry a lot of product. And frankly, order patterns are a bit more conservative, and headlines don’t help in that effort. So I think some of these factors are causing the quarterly activity, if you will, to be a little bit more inconsistent.
