Brent Thielman: Hey, thanks. Good afternoon, guys. Hey Iain, just following up on that last comment about — just some of the margin compression related to inflation. As you mentioned, I it looks like fuel costs, it’s sort of abated to some degree. What other factors that we’d be sort of thinking about here in the second half just in terms inflationary impacts on the business? I would think with fuel abating, you’d have some runway from margins here.
Iain Humphries: Yeah. Certainly going quarter three and four. Most of that comes from improved utilization as I mentioned earlier. It’s hard through the second quarter with when you’ve got this weather affected utilization piece. So yeah, so on the margin improvement we expect a lot of that comes from the pull through and utilization. There is a slight element of inflation in there, mostly around the labor cost. But obviously we’re looking forward to Q3 and four where we have more utilization of the equipment, which feeds nicely into the utilization of our employees, which then in turn generates that typical improved margin you’re see in Q3 and four.
Brent Thielman: Okay. And you guys experienced some pretty significant pressures just associated with tough weather, I guess, particularly in the west and felt some of that in the first quarter too. How do you think about the snap back you can see here in the second half of the year is there’s a lot of work you can make up for? I’m just — obviously there’s still constraints out there in terms of how much you can actually get done. I’m just curious how you think about this volume snap back into the second half given tough first half weather.
Bruce Young: Yeah. Thanks for that conversation or that question, Brent. The markets are responding really nicely. The commercial market has been really strong. We’ve started into Q3 now and we feel really good about the revenues in commercial. Bidding activity is really good in commercial right now, and the project starts are becoming stronger. The infrastructure bill is becoming clear where the dollars are allocated on that. And while the bidding activity hasn’t started yet, we expect that to start fairly soon as well and could have some impact on that later in the year and into next year as well.
Brent Thielman: Okay. And Bruce, maybe just one more. I mean, how much of the commercial business has sort of evolved or trended toward these larger projects, data centers, manufacturing warehouses? I guess I’m just wondering, are you still seeing a fair number of opportunities within the kind of the lighter commercial vertical? Maybe if you could parse that out, that’d be helpful.
Bruce Young: We don’t separate that out as a percentage, but I would say the volume of the larger projects have become a significantly greater part of our commercial market than what we’ve seen.
Brent Thielman: Yeah. Okay. All right. Great, guys. I’ll pass it on. Thank you.
Bruce Young: Thanks Brent.
Operator: At this time, this concludes our question-and-answer session. I would now like to turn the call back over to Mr. Young for closing remarks.
End of Q&A:
Bruce Young: Thank you, Camilla. We’d like to thank everyone for listening into today’s call and look forward to speaking with you when report our third quarter fiscal 2023’s results in September. Thank you.
Operator: Thank you. Ladies and gentlemen, this does conclude today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.
