Jennifer Sherman: Yes. So EV continues to be an important tenet of our NPD program. We introduced and showcased several EV dump trucks at the NTA show. We’re encouraged by the — although still small, the increasing pace of orders for our electric street sweeper product, but price does seem to be the biggest single objective — objection and particularly, it’s around the cost of the chassis that we don’t manufacture, but we are fully committed to continuing our EV development efforts and we expect as we move forward on that sales will continue to increase.
Chris Moore: Right. Got it. That makes sense. I will jump back in line and appreciate it, guys.
Operator: Our next question comes from Mike Shlisky with D.A. Davidson. Please proceed with your question.
Ian Hudson: Good morning.
Mike Shlisky: Good morning. Thanks for taking my question. I just want to get some more detail from you on your plans in rentals. It’s still a relatively small part of the business with a large proportion of other parts of the infrastructure world for using a lot of I looked across whether it’s on bucket trucks and certain kind of dump trucks, certain kinds of equipment for construction sites, et cetera. I guess I’m kind of curious more long-term how large of a percentage do you think rental can or ought to be, kind of how far this could just kind of go through?
Jennifer Sherman: Yes. I think the thing that’s important is to think about the ecosystem and we rent a truck, the times can vary but it’s usually between 18 months and two years, and in many situations that — the entity that’s renting a truck buys the truck. So it’s that used equipment that is an important part of the ecosystem in addition to parts and service. Furthermore, we have several strong rental partners and we continue to support their efforts in the field. And we began in the rental business in 2016. And if you look at our investment into our fleet, you can see that it hasn’t meaningfully changed over time given the growth of the company and we continue to believe that the largest part of our aftermarkets business is parts which is continuing to grow.
And that’s again kind of going back to that ecosystem that we talk about, it is you know rebrand, we sell it is used equipment. And there’s also that parts and service business that’s continued to grow. That’s a critical part of that ecosystem.
Mike Shlisky: So just so just to kind of recap that the added assets you’re putting in now, it’s pretty much it you don’t have a much broader plan to make rental the lion’s share or a really large part of the overall revenues?
Ian Hudson: Yes Mike, the investment we talked about was just a specific investment we’re making in certain territories that we recently assumed. So, it’s more — we look at the investments and the additions to our fleet. We look at it product by product. We look at it by geography. So we’re very selective in how and when we add and so that’s really the driver for this most recent investment that we’re making.
Mike Shlisky: Got it. And then secondly, I wanted to ask about on Class 8 chassis supply. At this point is crafted in any way a gating factor for your production? Or do you feel that your before supply at this point that business appears to be increases in some of your Class 8 chassis, not all of them. I’m curious as to how you feel right now about the rest of the year.
Jennifer Sherman: We feel really good. Class 8 chassis supply is not an issue for us.
Mike Shlisky: Outstanding. I’ll pass along. Thanks so much.
Operator: Our next question comes from Walt Liptak with Seaport Research. Please proceed with your question.
Walt Liptak: Hi. Thank you. Good morning. Good quarter guys. If I may ask about the backlog, you had the strong orders this quarter and the backlog now at like $1.1 billion, which is a great thing. But at what point is there a point at which the backlog is too big and becomes a bad thing.
Jennifer Sherman: I think as we’ve talked about, we’re very focused on building more trucks which translates into increased throughput at our various businesses. We have focused on reducing our lead times and we’re making some progress before we had the third parties supply chain issue in March production at our Streator facility was up 12% for the first two periods of the year. So we’re and with the implementation of the federal single operating system and our 80:20 efforts. We continue to expect increased throughput through the year. While maintaining strong orders, we expect those lead times to come down.
Walt Liptak: Okay, great. How should we think about the backlog like at the end of the year if you’re successful in — do we stay around the $1 billion level through the year or do you think it comes down?
Ian Hudson: Yes, I think we want to see as Jennifer mentioned what we want to reduce those lead times by increasing production and shipping more, but also at the same time maintaining that healthy order intake. So rather than kind of focus on a backlog number, I think our objectives and our goals for the year are really increasing build rates per day, increasing production, things of that nature, but we wanted to — we want to maintain that healthy order intake level. So that’s really the focus.
Walt Liptak: Okay. That sounds great. And then the on the orders, I wanted to ask about the — so orders for the dump truck business and just some questions around that. How big is the dump truck revenue on an annual basis? And what were the trends in the last couple of years. Is that recalling that there was some supply chain issues on chassis and maybe not the order levels or whatever in the last couple of years and you talked about pent-up demand? So I wonder if you can help quantify how big is, the revenue for that business and what was the growth rate for the last couple of years?
