Bob Pragada: Louie, I think if you go back over a decade ago, that lumpiness was — in the time between cycles, whether it be semi or in life sciences was a lot longer. We’re seeing those cycles contract look at the current semi cycle as well. And so we think that, that long term growth aspect versus what we used to see a decade ago, we’ve demonstrated that the diversity of our portfolio has been able to really sustain that. You mentioned ’22, it was also ’21 as well. So we’re feeling really positive there. The other item I would highlight is that it’s the reason what’s driving these growth catalysts, the reason why we highlighted the supply chain disruption as well as technology advancements is that in the past, the lumpiness was driven by demand.
And so capacity was almost exclusively tied to demand and then you could just map it via economic cycles. Today, that has completely changed and the drivers are more driven around technology advancements, reshaping of supply chains from the east to the west as well as innovations that are happening in, whether it be chip design or novel therapy. So the drivers also give us that level of confidence too.
Operator: The next question is from Gautam Khanna with Cowen.
Gautam Khanna: I was wondering if you could talk a little bit about recompetes, besides the Kennedy contract over the next 18, 24 months, do you have any big ones coming up? And then just related to the continuing resolution risk around the budget next year, are there any programs that kind of new programs that — in your prior guidance, you were counting on growing, but that might not be able to grow in such an environment? Anything that we should be thinking about as a potential headwinds in ’24?
Bob Pragada: Maybe I’ll talk first on the recompetes. Outside of Kennedy, for the next 12 to 18 months, I think that was the time line that you put it at nothing of that size. We have smaller recompetes that are probably a little less under the radar — a little bit more under the radar. But those are well within the normal cycle of our business. On the CR with new programs, Gautam, that’s one where we continue to be very sensitive to that. From a recompete standpoint, those could end up being upside for us, because we’re on programs that are continuing to be determined. But I think the diversity of our portfolio has lessened the impact of what we saw historically with CRs. And so I think that’s where — I think it would not be wise of us to predict the effect of CRs. But I think the diversity is where we see the hedge and we feel confident about our business.
Operator: The next question is from Josh Sullivan with The Benchmark Company.
Josh Sullivan: Just to follow up on that a little bit. As far as the NASA Kennedy rebid itself, given so many changes in the space industry and emergence of a lot of commercial space interest, where is your confidence in retaining the work?
Bob Pragada: Our confidence is solid. As whether it be NASA or other clients you could even outside the aerospace world, we’ve grown with our clients. So the intimacy that we have with the science of our clients’ business has allowed us to be their long term advocate and long term partner. So wherever the space industry goes, a movement to commercial, which we’re involved with or in other areas of exploration, we’ve been a part of that journey and a valued partner. So we’re feeling confident.
Operator: The next question is from Chad Dillard with AB Bernstein.
