Dan Pickering: That’s helpful. And then just to try and understand expectations or set expectations. So we’ve got – the balance sheet is much better. We’ve got cash. We’ve got a lot of liquidity, but wrap this all together in terms of your comfort, we can – I guess, we can use some debt for acquisitions if you wanted equities on the table. But roll that all together, what do you think your size-wise, if you exited ’23 with – is it $100 million worth of deals is a good year? Is it $200 million? I mean I’m just trying to understand kind of sizing comfort level with leverage, comfort level with using equity. It all rolls into kind of how much do you think you can do?
Neal Lux: Yes. I think there’s – Dan, we have – we’re looking at a lot of target today, but we want to have the right deal. And as we look, we have to find a partner that sees value in our equity as well. And so that’s a kind of, that’s a key kind of a key screen there is they have to understand that we’re undervalued and they have to see that the value in that if we’re to do a deal. Yes.
Lyle Williams: Yes. And I think the other way to think about this use of the capital, Dan, is to focus on returns. A floor of returns would be just retiring our long-term debt. As Erik asked earlier, we’ve got a 9% coupon on that. So we get an okay return, but our job is to find better returns. And so how much capital can we deploy that’s really going to move the needle on returns, on margins and things like that. So I don’t think we want to get bigger just to get bigger. We want to get bigger to get better and that will be our focus.
Dan Pickering: Right.
Neal Lux: And I think going back to the good strategic fit being accretive, improving our financial metrics, we’re open to tuck-in deals, multiple tuck-in deals or potentially a transformative one.
Dan Pickering: Thank you. And it’s a great opportunity to be thinking about playing offense as opposed to playing defense where the whole industry has been for a while. I want to come back to the kind of forward look in terms of – you’ve guided us to $80 million to $100 million of EBITDA for 2023. Some of us may have more optimistic expectations around rig count or whatever it is. When we think about incremental margins, is that 30% target still the right target given some of the things you’re seeing on cost supply chain, et cetera?
Neal Lux: Yes, Dan, just as a reminder, we’ve talked about kind of incremental margins being north of gross margins and kind of in net 30% to 40% with the high end of that coming with a lot of incremental price. I think as we look at this year, I would guide us towards the lower end of that range. Really, we see not as many opportunities for price increases with the market being a little softer, primarily in the U.S. And I think our big push for incremental margins could come from our newer and more innovative products where we provide a lot more value to our customers and could capture more of that in terms of margin. So out of the gate for this year, I think it’s probably more in that low end range, 30% is definitely achievable on a full year basis, and we would look to do that or better.
Dan Pickering: Okay. And while you indicated the cost – the freight expediting, et cetera, would moderate as we move through 2023, do you think we’ll still see some impact to that in Q1?
