Joe Lambert: Yes. I think we see continued opportunity. That bid was one where — this is the second of a 5-year — second turn of a 5-year contract and then we extended it another 5. Long-time customer but I do think that those kind of contracts are typical, especially in the Queensland coal fields and I think there is opportunities to lock in more of them on other sites with growth. And that’s some of that bid pipeline you’d see in Australia. And then, I think the Western Australia and other areas of Australia resource marketplace, we’re starting to see more activity in those areas as well. And gold and iron ore have typically been the strong Western Australia side but there is some copper markets that are picking up there and we have one of those in our tender pipeline. So, overall, just a really strong bid pipeline.
Kevin Gainey: And then, maybe we could talk about Q1 as well, has that — has it started slower for MacKellar and then just the oil sands in general as well?
Joe Lambert: Yes. I mean, this is kind of what I was talking to Yuri about earlier is that we’re having a little bit more slower of a winter but I think the biggest reason why Q1 is different is the addition of MacKellar. So, MacKellar is a lot more consistent year- round. But their rainy season is summer which is our winter. So their November to February is slower than the rest of the year. So, they’re — that’s taken us to more counter-seasonal Q2, Q3. Nuna has always been that way. And then we see Fargo, even though last year was big, it was predominantly all earthworks and it was very year-round work. It is a little higher in the summer. But this summer will be much higher just because there’s a lot more concrete work and bridge construction which has to occur in the summer. And so, all of those factors just push our top line more into Q2 and later.
Kevin Gainey: And maybe for Jason, just a bit on the forecast for D&A in ’24, maybe cadence as well about that, as I look at the model.
Jason Veenstra: Yes, we touched on that too. We expect to be in the 4% range on reported revenue moving forward. We’ve had some questions on the Q4 metric which did include $6 million of acquisition costs in the quarter. So, Q4 is not indicative of our run rate. But I think for modeling purposes, 4% is still where we expect to be in 2024.
Operator: Next question comes from Sean Jack at Raymond James. Please go ahead.
Sean Jack: So quickly, just wanted to switch over to the acquisition point that was talked about earlier. Overall, do you expect in Australia that there is any more sort of material acquisitions that you guys could make that would be able to be done at the multiple point that MacKellar was done? Or is that kind of standing as a pretty unique deal for you guys?
Joe Lambert: I think there could be other opportunities. I think it’d have to be very compelling now because I think we can grow a lot of stuff ourselves. So, I don’t think we — if there were an opportunity, we certainly wouldn’t be paying any huge premiums because most of this — we feel very comfortable that we can build up from brownfields right now.
Sean Jack: Right. Okay, that’s great color. And then looking forward, obviously, you guys got a lot of stuff to do or just a process ahead of you on your plate for the integration. Like, when does acquisitions actually and bolt-ons become a priority or something that’s very realistic? Is that maybe far deeper into 2024 or is that actually an opportunity in the coming months here?
Joe Lambert: I think small bolt-ons can happen fast. If there was big acquisition opportunities, historically, they’ve taken us many months, years. MacKellar was a 2.5-year process. So, even if we had one on the desk today, it’d probably be 2025 or later kind of thing, unless it’s a smaller bolt-on acquisitions. Those things, ML Northern, DGI, were — we were able to process pretty quickly. And so our focus will be on the MacKellar integration this year. And regardless of what acquisition activities occur, I think we’ll be able to maintain that focus for the year and get that integration done smoothly.
Operator: Thank you. We have no further questions. I will turn the call back over to Joe Lambert for closing comments.
Joe Lambert: Thanks, Joanna. Thanks again, everyone, for joining us today. We look forward to providing the next update upon closing of our Q1 2024 results in early May. Thanks.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect. Have a good day.
