Ed Prajzner: Yes, that was expected on the Power Gen side. That was a known project roll-off, as you said. So that was expected. That was not affecting our guidance. That was anticipated to be rolling off. And we are looking at this area. That project work, although it’s not the biggest piece of our business, it’s mostly run-and-maintain and call-out work and whatnot, the new projects, new CapEx, brand-new projects is a nice 5.5% to 10% of our business any given year. We’re not excluding that. We’re not ignoring that. That’s a piece we are looking at. There is a lot of new construction going on throughout the U.S. and beyond, battery plants, EV plants, chip manufacturing, you name it, where we can do work. And we are taking a hard look at that because that’s nice, long, just like defense work, that’s a nice, long five- to seven-year kind of project that are a nice core to add to your base.
So we are taking a hard look at that to replace some of that longer-term work that sticks around and repeats year after year on a long cycle there. So, yes, we are looking at that. There are some good opportunities there. So we do plan to replace that longer-term contract work, that’s dropping off. Yes, we are looking to replace that in our mix of business.
Brian Russo: Okay. And then just take that one step forward to 2024. What exactly does modest single-digit revenue growth mean? Does that mean less than 5%?
Ed Prajzner: That’s how you should probably interpret that, yes. We are thinking maybe that’s 3% to 5%, it’s somewhere in that range, yes. We are looking hard at that now. We are well in the way with the budget, thinking hard about next year. But that’s the takeaway we would want you to have there. That’s kind of what we’re thinking at this point for next year.
Brian Russo: Okay. And then lastly, and maybe for Manny, and this might even be a question for the permanent CEO, but where do you envision Mistras in maybe two to three years? I mean, is it increasing scale or is it diversifying the mix of business, maybe adding some other subsectors that you can leverage data solutions and even your Sensoria technology? And is there an inorganic growth component?
Manny Stamatakis: I think right now our focus is organic growth. We think we have a lot of opportunity within that area to grow the company. And if there are inorganic growth opportunities that make sense, we’ll look at those. But our focus is going to be organic growth. We talked about strategic pricing initiative, but we are also looking very closely at how our entire sales process is working. We think we should be doing more organic growth. But a big component of our future is going to be Data Analytical Solutions. We think that’s the future. We have millions and millions of assets that we have tested. And we think the analytic component of that framework is going to be key to our future. It’s still going to be in Oil & Gas, as well as chemical, as well as other areas.
Look, we can analyze data in a lot of different industries. But we have a wealth of data in Oil & Gas, and we should take advantage of that to the extent that we can. So, I think our focus is right now going to be organic rather than inorganic. We are not going to walk away from anything that makes a lot of sense. Every single initiative we undertake moving forward will go through a vigorous return on investment analogy. When it makes sense, we’re going to invest, and we’re going to just continue to work that way and improve our efficiency, improve our sales strategy, improve the pipeline of business that we would want to bring in. That’s all organic. I don’t know if that answers your question, but I hope it does.
Brian Russo: Yes, it does very much. I appreciate it. Thank you.
Operator: Thank you. And I would like to turn the conference back over to Manny Stamatakis for any further remarks.
Manny Stamatakis: Well, first of all, thank you, operator. I do want to thank everyone for joining this call today. I want to thank you for your continued interest in Mistras. There is more to come, and I look forward to providing you with an update on our business and progress achieved towards our initiatives on the next call. So, everyone, please have a safe and prosperous day. Thank you very much.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
