Matthew Blair: Hey good afternoon, Andrew and Bob, thanks for taking my question. So, if I heard correctly, you were saying that, that your current profitability would look more like 95 million at 2022 credit prices. And I think at one point you were you’re providing a 2023 guide of $136 million. So could you walk through the delta between that that original 2023 guide $136 million, and then the $95. I mean, I guess would that be just an assumption of, of lower volumes coming through in 2023 than what you originally envisioned?
Robert Vreeland: Matt, I would say there’s, yes, a little bit of that. I mean we’re in a little bit of a different world than we were at the beginning. Look back to January 2022, credit prices were extremely high and we just — the world was in a little different place. And so I think that — I mean, for sure, the lion’s share of it is just simply an assumption on credit prices, that’s huge. The other gap there is what I’m going to say, nothing notable other than a little here and a little there, and kind of as your environment changes, you give plans change. For us, as usual, I really feel that it’s kind of timing related of when the volumes come on is the biggest piece. It really is. And so it’s not if, it’s when and just how — we’re always constantly trying to get engaged when will the trucks show up at the fueling station, going through the buying cycle and the adoption and all of that and getting it there.
And as things move and look, moving out stations, these varies. When we open up stations because we’re — they’re purpose-built stations for all of our customers these days. They were building them because there’s a need for volume. So as soon as they open, the fuel starts flowing. So it’s — that volume kind of follows how you’re opening stations for the most part. I mean, we get more volume at our existing stations as well. But that’s it. I mean, it’s just
Andrew Littlefair: I think, Matthew, probably, if you were to go back and look at look at try to piece it together, and of course, obviously it was just giving you kind of back a lot more of that gets you to close to 95 or 100. It’s timing, it’s timing on the projects, right. We probably realized today these projects take a little bit longer to come on production, then, we thought year ago.
Matthew Blair: Okay.
Andrew Littlefair: The other thing, and I don’t want — let’s not go down this too long, but there’s sort of — there is some good news in here, right? I mean when we were laying that out for a year ago, we didn’t have the IRA. We didn’t have an ITC and we didn’t insure didn’t have a producer…
Robert Vreeland: Production tax credit.
Andrew Littlefair: Production tax credit. You lay that in and put any kind of number on it that has been banned about in ’25, ’26, those are really big numbers. So it also are going to work out — it’s all going to work out here in the wash. I mean, in those numbers, when you put play $4, $5 or $6 or whatever you want, I’m going to let you do it, not me. Those are big numbers out there that could be attributable based on the production tax credit.
Matthew Blair: Okay, and I just want to confirm that the $50 million to $60 million for 2023. That does not include any ITC add backs, correct?
Robert Vreeland: Correct? Well, yes, and it wouldn’t necessarily mean ITC is more of an investment tax credit, but yes, there’s no there’s no IRA number in the $50 million to $60 million.
Matthew Blair: Great, thank you very much.
