Pamela Kaufman: Thank you, I’ll pass it on.
Operator: Our next question comes from Steve Powers from Deutsche Bank. Please proceed.
Steve Powers: Hey, guys. Good morning. Thank you.
Geoff Tanner: Good morning, Steve.
Shaun Mara: Good morning, Steve.
Steve Powers: So two questions, if I could. The first one is just a little more tactical on the guidance. I think the 8% plus consumption that we saw in the first quarter was a bit better than going in expectations. The full year guidance implies you still expect roundabout mid-single digit consumption on the year. I’m just trying to think about how the phasing in your mind is going to work and kind of specific to 2Q and just because if you’re going to catch up to consumption, just trying to figure out what you’re trying to imply for shipments in the second quarter if I could? And then broader, Goeff, you talked about the category advisory conversations that you’ve been having with the retailers. I guess I’d love a little bit of elaboration on that and kind of what are the points of emphasis that you’re bringing to those conversations and trying to impart to retailers so that they can pay good on further category success.
Geoff Tanner: Yes, thanks Steve. Maybe I’ll start on the guidance question, turn it over to Shaun, and then I’ll come back on the category advisor question. As we noted, Q1 consumption was a little better than we expected, but as we said also, we’re comfortable when we reaffirmed our guidance. As you know, the seasonality of this category, January, February, March, is a critical period for us. And that’s going to give us a much clearer picture on how Quest and Atkins will perform for the year. We’re very pleased with our Quest retail takeaway, plus 19 in Q1. We’re in the early innings of the Atkins revitalization plan. But if we get another quarter and we’ll have a much better view of the year and then we’ll think through longer term how to think about that. But I’ll turn it over to Shaun for any added color there.
Shaun Mara: Yes, just reiterating a little bit, I guess, overall. I mean, Q2 was better than we expected a little bit. Q1, I’m sorry, Q1, excuse me. I hope Q2 is better than expected. We’re comfortable with our guidance overall. Let’s see how we execute the next quarter or so and that may impact our view on the year. But consumption in Q1 was encouraging as we look at what the results were. And I think as we’ve talked about it internally on plan through Q1, like what we have for plans in place for Q2, need to see how things turn out in the marketplace in Q2 and then we’ll kind of reassess where we are as we get to the Q2 call.
Geoff Tanner: I’ll come back on the category advisor question. It’s a good one. I’ve certainly been on the road a lot over the last three months having these conversations with retailers. And as Matt noted in his question, the category, nutritional snacking category is now consistently disproportionately showing growth versus standard store. And retailers are seeing that, and they’re seeing that discrepancy. They’re looking for growth, and they’re coming to us and saying, how much additional opportunity can we get after? What do we have to put in place to take further advantage of what seems to be a long-term trend, particularly around the nutrients as more and more consumers switch to protein forward. They want to take out sugar, they want to take out carbs from their diets.
And so, we are working with them. We’re investing a considerable amount in understanding the category, projecting out where the category is going to go over the next several years. And then we started on building plans with them on how to further capitalize on that growth. So those plans will include a mix of where do we find more space, whether that be from close adjacencies or further out? How do we take advantage of the omni-channel, because this category does lend itself to heavy online purchases? How do we drive more traffic down the aisle? How do we use our combined marketing capabilities? They see the growth and they’re looking to us and say, how can we build it together? You bring your resources, we’ll bring our resources, because it is a bright spot.
And so we’ve just started those conversations in earnest with several of the customers, the largest customers, and I’m excited to see where this goes, because I think this is one of our pillars for sustained long-term growth, which is the growth of the — the continued growth of the category.
Steve Powers: That’s great. Thanks so much. Thanks to you both.
Shaun Mara: Thanks.
Geoff Tanner: Thank you.
Operator: Our next question comes from Alexia Howard from Bernstein. Please proceed.
Alexia Howard: Good morning, everyone.
Geoff Tanner: Good morning.
Shaun Mara: Good morning.
