Todd Schneider: Yeah, Kartik, it starts with our culture and our expectations of our employee partners and the pace and the intensity of which they run. But that being said, we’ve — our value proposition is really resonating in each of the businesses we’re in. The first aid business we spoke about, it’s very good. Outsourcing is resonating nicely. Maybe it has to do with, it’s not as easy to hire people as it has been in the past, so if you want someone to outsource it, it’s that much more attractive. Yeah, we like the spot we’re in, and it’s — and we have exceeded our internal expectations, and we’re pleased with that. But there’s so many inputs to it, because we’re trying to focus on providing better products, better services, better technologies to make our people more successful and to make our customers that much happier. So a lot of inputs but we like where we’re positioned and we’re continuing to invest for the future.
Kartik Mehta: And just one follow-up, you obviously discussed M&A a lot. I’m wondering, and I know some of these acquisitions can take years to come to fruition. But as you look at the market today, are you seeing any change in the pricing environment, maybe what expectations are from sellers, or has it remained about the same?
Todd Schneider: Yeah, Kartik, good question. I wouldn’t speak to any change there. It’s more about — certain events might cause them, whether it’s an owner’s age or succession or — there’s many different life events that would cause them to make a move. And it’s more about that to your point. It’s in certain cases, these are decades in the making. And you can’t really pace them, but when they are ready, we’re ready. And we’re highly acquisitive, very interested in M&A from all shapes and sizes, big, little, medium, everything in between, we think it’s — we’re very interested.
Operator: And our next question comes from Toni Kaplan from Morgan Stanley. Please go ahead, Toni.
Toni Kaplan: Thanks so much. I wanted to ask a question on the focus verticals. Are you able to share sort of the growth between focus verticals versus non-focus ones? And how do you assess whether to add a new vertical into that sort of focus designation? Is there a different go-to-market strategy for focus verticals as well? Thanks.
Todd Schneider: Yeah, good morning, Toni. Well, I’ll say this about our focus verticals. I certainly expect them to grow faster than the business in general. And when you have an organized approach and you’re organized around a customer base, you certainly expect that. And we’ve chosen what we think are really good verticals that are very attractive. So yeah, I can’t give you a specific of — boy, it’s adding X amount of basis points to our total growth, but we think we’ve chosen well. And we’re always analyzing what’s — should we have another one or should we not? And what’s the best way? And it really gets down to what puts our employee partners in the best position to be successful and what creates the most value for the customer base. So we’re looking, we’re evaluating, always doing that, but we like where our investment is at this point.
Toni Kaplan: Terrific. I wanted to also ask about your marketing budget and whether you’ve increased that year-over-year. I recently heard some Cintas commercials on Bloomberg Radio for example, just wondering if that’s coincidence or if there’s been a greater push towards more marketing? Thanks.
Todd Schneider: Yeah, Toni, first off, thank you. I’m glad to hear that. The algorithm is working and it’s hitting our target audience. So I wouldn’t say there’s been a step change there. It’s just trying to be — make sure our investment is well-placed. And we’re trying to leverage analytics and technology to make sure that the investment is deriving the very best ROI as possible. So it’s just a matter of tweaks versus a step change in investment.
Toni Kaplan: Terrific. Thanks a lot.
Todd Schneider: Thank you.
Operator: And at this time, there are no further questions. I’d like to turn the call back over to Jared for closing remarks.
Jared Mattingley: Thank you for joining us this morning. We will issue our fourth quarter of fiscal ‘24 financial results in July. We look forward to speaking with you again at that time. Thank you.
Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.
