Jeffrey Waneka: Yes, Brian, we are starting to see some bids come out on the Tranche 1, and we expect to start hearing more on Tranche 2 later this year. But we’re seeing those. As you know, they’re spread out over several states. Some states the utilities have first rider usual, and we’ll see those coming out of the utilities. And then there’s a few projects embedded also in Tranche 1 that will be on the competitive market. And we’ve seen one of those come out, and we expect to continue to see those throughout the next 2 or 3 years, actually.
Operator: . Our next question will come from the line of Noelle Dilts from Stifel.
Noelle Dilts: A couple of questions, probably for Jeff. First, I was hoping you could expand a little bit on the comments where you mentioned that you were still seeing projects or customers that were kind of hesitant to contract projects. And I also was curious if projects are maybe a little bit slow to start once they’re awarded. I was curious if there’s any way to maybe quantify that? Are you seeing the engagement or sales cycle extend? Any information there would be helpful.
Jeffrey Waneka: Yes, you bet. Well, we’re having a few projects where all the contractors are pricing in some inflationary issues and maybe some supply chain delays. And that’s just keeping those developers and owners from pulling the trigger. Their projects are starting to exceed maybe what their pro forma was. As we see those calm down, we’re seeing those projects come back out again. And many of those were in a pretty good position. We continue working with our owners. We continue providing pricing as we see the market change. And we’re hopeful that those will eventually come to market. It just feels like they’re going to as soon as they have a bit more confidence around the whole cost of the project.
Richard Swartz: Well, the only thing I would add is probably the advantage we have is we haven’t seen anything in our backlog slip at this point. So what’s in our backlog today on the C&I side, it’s not moving around a lot. So those projects are going to be executed as planned at this point.
Noelle Dilts: Okay. Great. And then sticking with C&I, any notable changes in terms of verticals where you’re seeing strength or verticals that are weakening? And then curious if you could give us an update on how you’re thinking about any potential IIJA-related projects and benefits, say, around transportation? Are we thinking that’s more of a 2024 event?
Jeffrey Waneka: The markets that we have been advertising as core strengths for us, they’re remaining strong. We’re not necessarily seeing a big fluctuation in any of those, there’s more conversation around funding on some of the big transportation projects, but we haven’t yet gotten anything real contextual to price up yet. We believe that is probably going to be more out into the future 2024.
Noelle Dilts: Okay. Great. And Betty, congrats on your retirement.
Betty Johnson: Thank you so much.
Operator: . And we have a follow-up from the line of Noelle Dilts from Stifel.
Noelle Dilts: Just one additional question for Tod. Curious, it looks like when you’re looking at the transmission market, it seems like there are some more large projects or mega projects that are gaining traction again. I’m curious, again, how you’re thinking about the timing there. Do you think you could see some pickup in large project bidding opportunity this year? Or is that more into the out years?
Tod Cooper: No. This year, we are going to see some more opportunities on some large project bids. Like we’ve talked about in the past, the unfortunate part of that is the construction activity on several of these projects is at least a year out, if not 2 years on a couple of them, but we are actively bidding a couple right now, and we see a few more very nice sized projects that should be coming out in the second and third quarter. So we’re pretty excited about that.
