Keith Allman: Yes. our lighting and hardware businesses were down double digits, a little bit more than the segment, John. They tend to be a little more DIY-oriented type products. So, they pull back a little bit more than our paint and coating products in aggregate. So, we did see more softening — sort of consistent softening, but we did see softer here in the 3Q on the lighting and hardware businesses.
John Lovallo: Got it. Thank you, guys.
Keith Allman: Thanks, John.
Operator: Our next question comes from the line of Adam Baumgarten of Zelman. Please go ahead.
Adam Baumgarten: Hey. good morning, guys. just maybe kind of backing into the fourth quarter margin guidance, pretty big step down sequentially, I think, kind of bigger than maybe typically or seasonal. Just kind of anything to note there in terms of headwinds on the margin side?
Keith Allman: No, nothing beyond really what we’ve talked about. We may see a little bit more of international mix in our plumbing segment that could provide a little bit more headwind. Dave, maybe you can add color on to that. But we’ve — the fourth quarters typically are slowest from a seasonality perspective. We do have costs that come in the fourth quarter, such as threw up on various accounts, compensation accounts and that sort of thing, that can have some headwinds. We’ve got a little bit of — we bring up and start to more aggressively ramp up our new factories. We have a new paint facility outside; Columbus in Ohio and we have a new plumbing plant in Serbia. So, there’ll be a little more expenses there in headwinds.
But I think it’s — when you think about our margin and where we’re going to be driving this in ‘24, I think it’s best to think about the full-year ‘23 margins and then that strong incremental that I’ve talked about earlier on the call as it relates to share growth.
David Chaika: Adam, I think you’ve had a good summary in general. It remains an uncertain market. So, there is some caution probably in the fourth quarter on the margin side. So, we do anticipate continued pressure from lower volumes, potentially a little bit of negative mix and plumbing, as well as we’ll have plants started up costs in both — in plumbing and decorative with our European Boston shower facility coming online, as well as our Heath Ohio paint manufacturer and distribution center coming online.
Adam Baumgarten: Okay, got it. That’s helpful. And then just maybe, if you could touch on POS trends at retail throughout the quarter and maybe, into October, if you’re willing to share that.
Keith Allman: Yes. we don’t really like to break it down within the quarter as there’s a lot of variability in terms of load in from new products and other comps, and that sort of thing. And it certainly varies, with respect to POS, I’d say we’re seeing some fairly good trends.
Adam Baumgarten: Okay. Thanks. That’s all I have.
Operator: Our next question comes from the line of Susan Maklari of Goldman Sachs. Please go ahead.
Susan Maklari: Thank you. Good morning, everyone.
Keith Allman: Good morning, Susan.
David Chaika: Good morning, Su.
Susan Maklari: My first question is maybe, taking a step back, there’s been obviously a lot of focus on the consumer in the last month or two, and thinking about housing and their ability to spend as rates move higher. How would you characterize the consumer today as you kind of look across the business? And any thoughts on shifts that are there, either positive or negative, and what that could suggest for next year as we think about the potential for maybe rates to change, either up or down, and where things could kind of come together with that?
