And then the rest is just, our best estimate of what we’re going to sell out of the fleet. and so I think, the ERS versus TES is really a function of just capital allocation and capital deployment more than anything. And then, we’re doing them both in the context of supply chain is improving. And so, as we’ve seen backlog grow and kind of the fact that backlog is now at 700 north of $750 million, we’re just trying to begin to make sure we’ve got the ability to work through backlog there. But again, demand is strong. Demand is strong in all four of our end markets. That’s where we always start. And it, it is strong to consume equipment as rental or as sales. And so a bid is just again, balance sheet management and CapEx, CapEx deployment.
Justin Hawk: Okay. I understand on the, so the, the ERS segment then, if you’re looking, your guidance is, 3% growth at the midpoint. So I, I guess what you’re saying is the rental fleet within that segment, you’re assuming you grow that mid high single digit. So the sales out of that segment would be, flat to, down a little bit earlier?
Ryan McMonagle: That’s, I think Chris said close to flat, right? Is how we, how we’ve kind of thought about it. Yeah, exactly. And then, and then your other assumption there is utilization. And so it’s just, we’ve run at incredibly high utilization levels in 2022. And so, we see nothing saying utilization’s going to slow down in any meaningful way. Right? So we still see very good indicators in terms of utilization and demand, but just as we’re thinking about budgeting, I think it’s, it’s important that, we’re managing, managing that as best we can.
Justin Hawk: Okay. And that, that kind of brings maybe to, to my next question or my final question here is that so if the fleet, the rental fleet’s growing mid-high single digit, and your utilization, as you said is, kind of high. So, it kind of stays where it is. So the, the OEC on rent yield I, for lack of a better term, it’s kind of a pricing term. It, it was kind of flattish year-over-year here in, in the quarter up 10-basis points are, are you thinking that it stays kind of at that same level for ’23, or is there opportunity for more rent yield expansion?
Ryan McMonagle: Yeah, I think as you look at that, Justin, I, I don’t know that I would, be modeling any significant expansion. certainly there’s a lot of things we’re doing that are, in terms of efficiencies within the business that, in addition to just, the availability of units and the utilization that can drive that. And so, not anything specifically we want to guide you to, but I, I wouldn’t necessarily model any significant movement in either direction.
Operator: . There are no further questions at this time. I would like to turn the floor back over to Ryan McMonagle for closing comments.
Ryan McMonagle: Great, thank you. Thanks everyone for your time today and your interest in custom Truck. We look forward to speaking with you on our next quarterly earnings call. And in the meantime, please don’t hesitate to reach out with any questions. Thank you again, and have a good evening.
Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.
