Bill George: So we’re in budgeting season now. Literally, we’re literally going out and getting our field view on that. The comparables get tougher and tougher. Half of the growth until this quarter was inflation. We don’t expect net inflation growth, right? We don’t expect inflation to reverse currently, but we don’t expect it to be a big 10% portion. So I would — I just don’t see how our — we continue to have same-store revenue growth of 20% next year. The one thing I’ll say is we really didn’t expect it this quarter, but we do have $1 billion more of backlog than we had a year ago. So it’s going to be pretty hard for us to not at least think we’re going to have double-digit growth. Quite honestly, we’re just — we’re figuring that out right now. This business is a business, you go out and you earn it and you do it every quarter and every day.
Julio Romero: Yes, that makes sense. And what was the inflation portion of the third quarter sales growth?
Bill George: Almost none. 3%, 4%. I would say. That’s our best estimate about what it was for the U.S. economy, but a lot less than it had been recently.
Operator: Next question comes from the line of Josh Chan of UBS.
Josh Chan: Congrats on a really good quarter. Yes. I was thinking about the organic growth. And if only 3 or 4 points of that was price. Could you just kind of talk about how much of the remaining growth is from you successfully hiring more workers or kind of improving productivity within your construction process, kind of how that breaks down to contribute to the really strong growth.
Brian Lane: Yes. It is a combination of both. We did hire more folks. I mean, we’re a good place to work. People want to come and work here. So we had good luck with that. But we also had productivity improvements. The use of prefabrication continues to accelerate. BIM modeling, which is really accelerating at a rapid rates, all this stuff is really helping us out in the field, automation on the welding front, et cetera. So it’s a combination of hiring more folks and clearly improve productivity and just really trying to support the folks in the field to make the work as easy as we can for them on the job site.
Bill George: That’s crazy. I mean also, we worked a ton of overtime in service, right, with the [heat], that’s a point or 2. And then you’ve got like — we got 2 points — we went from 18.1% gross profit to 20.1% gross profit, that’s revenue, right? The difference between those 2 is recognized revenue. So this was just a fantastic quarter and really all of the above and we just got to hand it to the guys.
Josh Chan: Right. Yes, it was definitely a really good quarter. I was wondering if you can talk about the [bid] environment for new projects. I guess for a while now, there’s been more work than you and the industry can handle. Is it still the case now? What verticals are you seeing the new projects kind of started to get bid out here?
Brian Lane: Yes. So I mean, the opportunities are still very strong. It’s broad-based, coast to coast, the industrial sectors, and we talked about in our prepared remarks, it’s still very strong data, pharma, food, battery, et cetera. So we have not seen a let up in opportunities. As we also said, we’ve just got to make sure we stay prudent, taking the work we’re good at. Don’t overextend ourselves and make sure we continue to do good work for our customers. So — so far, we’re in a really good spot right now.
Operator: Our next question comes from the line of Adam Thalhimer of Thompson, Davis.
