Avner Applbaum: And let me just add. Yes, I’ll just add to that. We’re very pleased with the SG&A savings, but another — what is very important here and more important is actually, we have an organization that is leaner, and we’ve been able to execute and we did that in our Q1 results that we have an organization that is — it’s very much focused on execution, driving our long-term strategy. So while we get — it’s a double benefit when we get the reduction in the P&L, but we also get a more focused and lean organization, and we’re able to execute well on our strategy.
Operator: Our next question comes from the line of Brian Drab with William Blair.
Brian Drab: Just wondering if I can just ask one follow-up on the TD&S business. And I guess, sorry if I missed this, I’m trying to take notes as fast as I can but total sales for TD&S was up 3%, and you said pricing was favorable there. So how is — I’m trying to reconcile that this business, I would expect is one of your stronger growing businesses in 2024 but it’s pricing is up, I mean volume is up less than 3%. And then you also mentioned that this distribution and substation business is doing quite well. So just trying to get some insight into what we should be expecting for the core large transmission structures business in 2024 in terms of volume and pricing?
Tim Francis: Sure. So you’re right, Brian, on what you heard. A couple of things there. Because of the mix shift to the smaller structures that smaller transmission structures as well as the distribution of substation, we saw favorable pricing mix from that. But we also saw a negative on pricing from the steel deflation tied to the steel index and the pricing contracts with our alliance customers. So we were able to overcome that steel deflation and still see higher pricing. As we continue through the year, we will see an increase in our volumes in TD&S. Again, we’re very pleased with how quickly we were able to adjust and get more of the smaller structures produced. And we expect that to accelerate through the rest of the year, while we still see good demand for the transmission structures as well.
Avner Applbaum: So a little bit more color — and I’m actually glad you asked about TD&S. That business is doing very well for us, and we’re seeing growth in all areas of that business. Transmission is growing nicely, but the focus also been on distribution, growing our market share there, substations with all the data centers that are coming up, the use of AI, very strong demand in that area and we’ve been able to utilize our footprint and the flexibility to support the strong demand. And on top of that, with our product offering that there’s no one else in the industry that can do around our steel structures, our concrete structures, basically give the whole suite of products. And we are supporting our customers and very favorable in that market, and we’re going to see that market continue to grow for us in the high single digits. And we’re very excited about what we’re seeing in that market.
Brian Drab: Can I just ask that — it sounded there’s a lot of moving parts here. So for the larger structures in the first quarter, the larger transmission structures, pricing was down, but I guess volume was up in that business specifically. Is that fair to conclude?
Tim Francis: We don’t break that out. I mean I will tell you that volume was up in TD&S in totality.
Avner Applbaum: Yes. And the pricing specifically is around the pricing mechanism. I want to make it clear, right? We’re not reducing pricing. We’re pricing for the value that we provide to our customers and there’s significant value that we’re providing there. So it’s all around the mechanism around the pricing is what’s pressuring us.
Operator: We have reached the end of the question-and-answer session. And I will now turn the call over to Renee Campbell for closing comments.
Renee Campbell: Thank you for joining us today. As mentioned, today’s call will be available for playback on our website or by phone for the next seven days. We look forward to speaking with you again next quarter.
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