Kyle Larkin: Sure. Yes. I mean I think if you go back to Q1 of ‘22, we laid out a plan that from ‘22 through ‘24 and beyond, we are going to focus on support and strengthen of our existing home markets. That was really around small bolt-ons, automation efforts and purchasing material reserves in our existing oil markets. And we have got a lot done, as we mentioned in prepared remarks around asphalt and oil terminal in Bakersfield, Brunswick Canyon, Tahoe [ph], Northern Nevada, Grantsville Quarry expansion in Salt Lake City and then Coast Mount Resources, which is the quarry up in Canada that shifts material down into our business in the state of Washington. So, a lot of really nice support and strength in our existing home markets over the last couple of years that we are excited about, but we always spoke to doing something larger around an expansion and getting outside our existing footprint, specifically around a very big integrated business in 2024 and beyond.
We feel like the timing will be right for us to do that, the large mega project challenges we had as a company would behind us. And so we do feel like it’s time for us to take on a new opportunity outside our existing footprint. I think there is a lot in the pipeline that are out there in the marketplace today. I can tell you what we are looking at is, first off, good businesses to be a platform, and we are still looking for a market that’s healthy and growing. And of course, we are looking for strong leadership. And those opportunities are out there. We have a couple of things in the pipeline, and I hope that we will be able to share some success in the coming months.
Brian Russo: Okay. Great. Thank you very much.
Kyle Larkin: Thank you.
Operator: The next question is from Michael Dudas of Vertical Research Partners. Please go ahead.
Michael Dudas: Hi. Good morning gentlemen and Lisa.
Kyle Larkin: Good morning.
Lisa Curtis: Good morning.
Michael Dudas: Kyle, just quickly on following up on the materials side. How does – how do – you said costs have been normalized? Any insight on maybe cost pressures fourth quarter into 2024? And what kind of range of type of pricing are you anticipating? And is there volume growth associated with that business relative through now, the core businesses. And you mentioned about residential a little bit slower but bottoming, but some of the new acquisitions, some of the new opportunities you got from your bolt-ons?
Kyle Larkin: Yes. I think the cost has stayed fairly consistent this year. I mean there has been some fluctuations certainly of late, we have seen a little bit there. I mean the energy escalator we put in place last April is still out there for us to protect ourselves and also we have public owners that provide some protection on that end of things. We feel good about kind of the cost components today. We did – yes, we were able to raise pricing on aggregate and asphalt in 2023, and we do expect that to be consistent with what we can do next year, probably in the range of, say, 5% to 10%. But all-in-all, we do think that the cost components have normalized, and I think that’s good news for the business. From a volume perspective, we haven’t seen a drop, so despite the fact that there were a couple of markets that softened with residential.
Our volumes were actually up both asphalt and aggregates for the year. So, I think that’s kind of indicative of the market today.
Michael Dudas: Okay. Thanks Kyle.
Kyle Larkin: Thank you.
Operator: The next question is from Jerry Revich of Goldman Sachs. Please go ahead.
