Ian Hudson: Yeah. So the Dump Trucks represent about 17% of our total revenues, which as you know we — I think we mentioned on the call that the orders in that business were up 22 million or 38% year-over-year. So what we’ve seen there and is really nice growth with the improvement in some of the chassis flows. We do believe that that is a business where there is some pent-up demand, because to your point on the recent trends, that business has been impacted by the tightness in the flow of chassis in recent years. So we do believe there is pent-up demand. And what we saw in Q1 is gives us encouragement that with the improvement in chassis, there is going to be that pent-up demand. And what we’ve also seen is some of our businesses have been able to kind of expand geographically, which is really encouraging, because as we think about — I think we had a question earlier about the infrastructure bill and the potential that we think Dump Trucks is one area probably on the — on the earlier end of the funding for that would be Dump Trucks.
So we’re encouraged with what we saw in Q1. And I think there’s probably more to come.
Jennifer Sherman: Yeah. I’d just add there, kind of reiterating what, Ian said. We’ve got a really good team very focused on geographic expansion and market share growth. And they’re having some early successes. So on with the improved chassis supply, really good quarter by our Dump Truck businesses and more to come.
Walt Liptak: Okay great. Okay. Thanks for the color.
Operator: Our next question comes from Greg Burns with Sidoti & Co. Please proceed with your question.
Greg Burns: Good morning. Given the substantial backlog and the extended lead times, can you just talk a little bit more maybe about the calculus of the thought behind diverting production maybe towards the rental fleet. I understand the longer term opportunity, but how does that decision factor? And with this idea that we want to get lead times down, also at the same time maybe you could do both hand-in-hand and also the investments that you’re looking to make in into the rental fleets are could those even be higher were it not for the lead times you’re needing to manage those like, well, what’s the dynamic there? Thank you.
Ian Hudson: Yeah. I think the investment Greg, what we’re talking about is specifically we’re only from a true back in because it was. So for those product lines, the lead times are probably in an area that would be what we would call normal. So we’re not in the same situation with sewer cleaners and sweepers where those lead times are probably more extended than we’d like. So the investment really is not — it’s focused on the product lines where lead times are normal. So that’s and that’s one area. The other reason that there is that need to have to add more units to the fleet is just given the strength of used equipment sales that we’ve seen and that creates that need to replenish. We talked about in Q1 shifting some of the production there to prioritize customers, so there is that shift that we had planned to add units to the fleet in Q1.
Some of that has now shifted to Q2, so kind of for the full year. That piece is somewhat neutral to our prior guide. The incremental investment we’re talking about is primarily on the Guzzlers and TRUVAC side. And again, that’s the area where lead times are more normal.
Jennifer Sherman: And I guess I’d add there is that carefully monitor our own rental fleet utilization and used equipment sales parts and service and as we assume these additional territories specifically for safe digging and for guzzler, we see opportunities there and we want to be prepared to respond to that because we continue to believe that used equipment, in particular, along with parts, service, will be an important growth area for the company.
Greg Burns: Okay great. Thank you very much.
Operator: Our next question comes from Dave Storms with Stonegate Capital Markets. Please proceed with your question.
Preston Graham: Good morning, Preston Graham sitting in for Dave today on you mentioned in your prepared remarks that your M&A pipeline continues to be strong. I guess any additional color you can share on what you’re seeing in the M&A environment and what type of tuck-ins could make sense for the business going forward?
Jennifer Sherman: Yeah. I think we’re in a pretty good place right now. We’re working on a number of different opportunities. Again, in many cases, these are opportunities that we have sourced and we’ve developed relationships over a longer period of time. So pipeline is full and more to come. And I guess I’ll reiterate that M&A will continue to be a meaningful part of our growth story as we move forward. I mentioned in my prepared remarks, I was out in Denver last week at our open house. It was really exciting to see what happens when you bring all of these federal signal brands together under one umbrella. A good example of some of our organic growth initiatives and then some of our M&A working together
