Brian Russo: Okay. Got it. And then just on your public end market exposure. I think it’s been running maybe around 70% of total revenue or the total business. Do you see that increasing relative to the private side, just given the healthy DOT lettings and the accelerating IIJA funding. Just wanted to get a better sense of — or is just the whole pie getting bigger and you’re going to maintain that kind of ratio between public and private?
Alan Palmer: Yes. Actually, the ratio has been a little bit closer to 65:35, we see that probably trending up just a little bit closer to the 70:30. And that, again, at this point, we don’t see it moving a lot from the 65:35 right now, residential, which is going to be the first part of the private work that sees slowdown is really only about 5% of our revenue. So if that cut in half, you might move from 65:35 to 67:33. But the strong demand we’re seeing in other private work in our markets, we don’t see that shifting back to, I’d say, our long-term average is 70:30, but we really — we’ve been a little bit closer to the 65 or even below that in some periods, especially 2020 and a little bit in ’21 when North Carolina was not letting any public work, but not a huge shift. And historically, even in a significant downturn in the private work, we don’t get — maybe 4%, 5% more one way or the other.
Brian Russo: Okay. Great. And then just on the balance sheet to follow up. It seems as if you’re comfortable where leverage is now and obviously, you’ve got an attractive consolidation roll-up bolt-on type growth strategy. Should we assume that leverage comes down, not from absolute debt reduction but from EBITDA growth and cash flow generation given the opportunities that you see out in the marketplace?
Alan Palmer: Yes. Exactly. You really nailed it right there, we’re rolling off some 2022, the first and second quarter of 2022. We’re kind of the beginning of some of those significant margin compressions, which obviously drove the EBITDA down. So quarters we’re going to be rolling on are going to be much more rich and profit compared to last year because our margins, as we talked about, are growing, where last year they were beginning to decline that kind of bottomed out at the end of March. So we’re going to roll off two declining quarters in €˜22, increasing margin quarters in ’23, and that’s going to drop that leverage ratio closer to the 2.5 times that we would like for it to get to. And then we can — again, I mentioned earlier, we have about $28 million of cash that will help with that calculation also that we can apply to that debt or invest in assets that add EBITDA.
Jule Smith: Brian, just to speak a little bit about growth opportunities. Just last week, we had our strategic planning retreat. And I just really encouraged and just reminded of how many opportunities we have in the states we’re in and whether it be for acquisitions, greenfields. And so we’re going to be able to keep our leverage ratio down and still execute our growth plan as long as we just execute on our plan and build our backlog. So we don’t see that being mutually exclusive, and we plan on doing both.
Brian Russo: Okay. Great. Thank you very much.
Jule Smith: Thank you, Brian.
Operator: Thank you. Our next question is come from the line of Brent Thielman with D.A. Davidson. Please proceed with your questions.
Brent Thielman: Hi. Great. Thanks. Good morning.
Jule Smith: Good morning, Brent.
