Tucker Marshall: So Ken, directionally, you are correct for the fourth quarter implied and really the buckets that are within there are: one, continued support of marketing across the portfolio; two, is there are some administrative costs in there associated with wage inflation and filled positions; and then there’s operating support in there, which is our continued investment on Uncrustables around preproduction expenses that are driving that year-over-year increase in SG&A.
Kenneth Goldman: Thank you.
Tucker Marshall: Thank you.
Operator: Thank you. Next question today is coming from Chris Growe from Stifel. Your line is now live.
Christopher Growe: Hi. Good morning.
Mark Smucker: Good morning.
Christopher Growe: Hi. I just had a question for you. As we think about this sequential gross margin improvement, Tucker, is there a division or divisions that are helping support that? So coffee is one where you’ve had some cost inflation. Is there a pricing cost kind of imbalance that’s taking hold that’s going to support a stronger gross margin in the fourth quarter? If you call out a division or two?
Tucker Marshall: Chris, good morning. The sequential improvement in gross profit margin is really across the entirety of the portfolio as we continue to see a bit of stabilization and overall cost inflation as we begin to see the benefits of lapping price increases. And as we continue to operate under the general business momentum that is enabling the margin to improve each quarter and really, it’s coming through most elements or all elements of the portfolio.
Christopher Growe: Okay. Thank you for that. And just one other question. There was a note you made in your prepared remarks about 54% of categories gaining market share. And that’s a good number, but it’s down a bit from where it was. And not to pick on that because it’s still showing €“ you’re still showing really good growth and market share performance for your big brands. But I guess I want to get a sense of how much is there capacity-driven limitations thinking about businesses like Meow Mix, where it’s kind of limiting your ability to gain share in those categories. Just if you can give a sense of how much that’s kind of limiting the categories gaining market share.
Mark Smucker: Yes, Chris. It’s Mark. We’re very pleased with our progress this quarter. I mean if you look at every business grew in coffee, every brand grew in pet, every brand essentially grew as well. And we saw good growth, of course, in Uncrustables with 38% growth. And then continuing to gain share on Jif. So we tend to target around two-thirds of maintaining and growing. And so we’re really pleased with the performance €“ the number that you referenced is largely driven by some of the supply chain challenges in Meow Mix, and we do feel confident that over time, as we manage through that, we’ll get back to where we expect to be.
Christopher Growe: Okay. Thank you very much for your time.
Mark Smucker: Thank you.
Operator: Thank you. Next question is coming from Robert Moskow from Credit Suisse. Your line is now live.
Robert Moskow: Hi. Just a few small ones. When you’re thinking about fiscal 2024, Tucker, can we assume that all of your segments will have positive volume. I mean, I think Jif peanut butter is pretty obvious. But are you expecting positive volume in cat food, dog snacks or snacks in general and coffee. And then secondly, on free cash flow, is it possible that free cash flow is above normal in 2024 because of a working capital benefit as your coffee costs are falling. And then I have a quick follow-up.
