Fritz Holzgrefe: I think, Tom, one of the things we’re challenged with is that no one customer is greater than 4% of our revenue base. So it automatically is a pretty diverse base. And I would tell you what we’ve seen, the trends that we’ve seen, it’s been pretty much across the board. So I don’t have a really good call out around industrial or retail there. And particularly, in some cases, as you know, in this business, as a customer’s mix of business changes or their plans change, they may choose alternate supply chains and things that we may lose or pick up business. So it’s tough to really for us to call a trend there. I would say that the trends that we’ve seen in our business have been really pretty much across the board. So I don’t have a really good intel for you on the retail side or component or the industrial component.
Tom Wadewitz: But it sounds like you — I guess there’s some information value, I think, in saying that you haven’t seen a big difference between the two, right? Like it’s, you don’t
Fritz Holzgrefe: That’s fair. But I would caution you by saying sometimes some of what we’ve seen is based on our own action, because we’re pretty deliberate around making sure we get the pricing piece right, because our service levels are pretty critical.
Tom Wadewitz: Yes, right. Okay, makes sense. Thank you for the time.
Fritz Holzgrefe: Yes.
Operator: Our next question comes from Ken Hoexter with Bank of America.
Ken Hoexter: Hey, great. Good morning and thanks for the time, Fritz and Doug. Going back to the real estate last quarter, Doug, I think you mentioned that you could slow things based on the flows. But given you’re opening five terminals, how do you — is that in line with your target of 10 to 15 this year and kind of your annual growth? Or are you thinking about things slowing based on tonnage? I guess, maybe just how do you think about that given your real estate projects?
Fritz Holzgrefe: So Ken, let me just jump in on that one. The five that we’re opening, those are in our pipeline, and I’d tell you they’re confirmed. In — as we look out for the balance of the year, we’re going to be opportunistic. We may add additional facilities down the road based on what we see in the macro environment. One of the great things about doing an organic expansion is you can accelerate or slow down as you need to. I think right now, with kind of the tempered environment that we’re in, we feel pretty good about these next five. There may be a few after that, but I’m not in a position I could speak to those yet. We have — we know what they will be, but we may not open them this year. We could open them this year.
It all depends on what the environment is. I think the opportunity that we have right now is the last 18 that we’ve opened. Let’s continue to optimize those and add share in those markets. And then we’ll take advantage of these. We’ve got a couple of big ones coming up this quarter and next, which I think will be a nice add for us.
