But again, that’s where we think the one stop shop model really is dynamic and allows us to pivot between how customers want to consume the equipment. But right now, certainly in the utility space, all the indicators we’re seeing are, are certainly strong demand for, both buying and renting gear.
Fred Ross: Yeah, I’d say it continues to stay strong. I, I do think there’s a, that the rental may pick up some, there’s, there’s no doubt that because of interest rates and some and so forth, some people may feel that it’s a, a better deal to rent than to, than to, than to put the, add the, add the equipment to their balance sheet. But I, I most sides are, are doing really well, and, but I do think it might be leaning slightly towards, towards more towards rental.
Noelle Dilts: Okay. that’s helpful. Thanks. And then just curious looks like, you’re continuing to, to buy back some shares. How are you thinking about the relative attractiveness of, of share re-purchase with the stock at current levels? Thanks.
Chris Eperjesy: Yeah, hi Noelle, this is Chris. We really view it as an opportunity to show support for the stock. Obviously we we’re very bullish on, our performance in 2022 and the outlook for 2023, and so we’re, we really look at it opportunistically as we have $30 million approved by the board. I think we’ve in the queue, or sorry, the k we disclosed, we’ve purchased a little over $10 million. And so we’ll, we’ll continue to look at it and, and buy stock as we think it makes sense to support this stock.
Operator: Thank you. Our next question is from Justin Hawk with Robert W. Baird. Please proceed with your question.
Justin Hawk: Yeah, good evening guys. And I guess I’ll echo the statement. Congratulations on, on change all the new roles, so and good luck. I, I guess my question I I’m, I’m kind of surprised that the rentals segment is, is growing less than the sales segment. Because I, and the reason why in ’23, and the reason why I ask that is because I, I guess I kind of assumed why you guys supply everything that there was more of a, a mix to doing more rental, but it’s, it seems like the, the sales side is, is driving more of the revenue growth outlook. And so I guess commenting or your comments on that, and then also within the rental segment specifically is, is it the same dynamic of the sales portion is expected to grow faster than the rental portion within the segment for the year as well?
Ryan McMonagle: Yeah, I’ll Justin I’ll start and then Chris can kind of give a comment on within the year. But I think, when you look at, at ERS growth versus TES growth we’ve got a couple dynamics going on, right? One is just capital allocation and balance sheet management, in terms of gross CapEx and how much capital do we want to deploy because, because of how much the fleet’s grown. So, in that s segment, there’s really two things. There’s the rental fleet, which drives rental revenue, and then there’s the rental sales side of that business. And so Chris already kind of gave guidance to the mid to upper single digits from terms of rental fleet, which will really drive the rental revenue side of that, of, of that business.
