David Watson: Yes. Sure, Chris. So just to be clear, the 95% complete is with the design and construction, that’s not the entire job that doesn’t include commissioning that we are definitely further way north of 80% on that. It’s — there’s just been a lot of changes in the scope of this project that have just been difficult for us. And frankly, it’s just been a really difficult customer to work with, and we’re doing our best to make it work because we want to have a successful project. And that just really kind of came to more of ahead here during Q3 as well as you get super close to the end of the job, things — that’s — there are a lot of risk at the end of the job, as you know, with any of our jobs that we do. And that’s when things really kind of come to a head.
Chris Moore: Got it. I’ll leave that one there. Maybe you could just help me with the math. Q3 gross margin without the Kilroot issues would have been roughly where?
David Watson: It would have been 8-point , I think, Hank, 8.8%, something like that. It was a really strong quarter across the business with the exception of Kilroot, which is no excuse.
Chris Moore: Got it. And is there — was there any excess Guernsey margin in Q3?
David Watson: We’ll finish Guernsey in Q4. We did close out some items on Guernsey during Q3, and we also reached substantial completion on Maple Hill in Q4 here. So our expectation is both Guernsey and Maple Hill are going to be fully finished out in Q4. But yes, we did close out some other items in Q3 for Guernsey.
Chris Moore: Got you. And maybe talk about Roberts, it really looks to be hitting stride $38-plus million this quarter. Is there anything different in the strategy today versus a few years ago that’s I think the last 10, 11 quarters have been pretty strong.
David Watson: Chris, I appreciate that question. Roberts has been a long process for me, for my years here at Argan and I’ve just been really pleased to see where we are today on it. Robert’s generated over $30 million, as you mentioned, it’s generated over $30 million for the last three straight quarters for a total of $102 million, which is more than all of last year. We strategically consolidated some of our business segment — business segments there. We consolidated two plants into one to reduce our cost. And we’ve been focusing on doing field services, which has been a more profitable piece of that business. We’ve also made a change in leadership and we’ve also added to that leadership. So we feel like we’ve got a really strong team in place for growth over the long run. And as you can see, a $102 million through three quarters, the run rate is north of $130 million, and the expectation is for this business to continue to grow.
Chris Moore: Got it. Very helpful. I will leave it there. I appreciate it, guys.
David Watson: Appreciate it, Chris.
Operator: We have reached the end of the question-and-answer session. I will now turn the call over to David Watson for our closing remarks.
David Watson: Thank you all for participating in today’s call. Happy holidays to each of you, and we look forward to speaking with you again when we report our Q4 fiscal 2024 earnings next year. Have a great evening.
Operator: This concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.
