Ken Herbert: Okay, helpful. And it sounds like your commentary, I mean, the fourth quarter should see a nice sequential inflection, and it sounds like you should have good visibility on that based on the revised guidance. As you look at the fourth quarter, is there any area you’d call out, Chuck, as maybe an area of risk? Or what’s the opportunity, as you think about the range of adjusted EBITDA in the quarter that gets you to sort of the upper end or the lower end for the full year?
Chuck Prow: Again, I think the risk is associated with timing. You know, there are upsides from our kind of business results perspective, given the current global affairs. But there’s also a reality of potential delays. So, the fluidity right now in our client’s demands of us are at a very, very high level, probably the highest level since I’ve been in the role. So I would say the risk is more around timing of things that we had counted on here in the near term. And again, it is timing risk. The opportunities aren’t going away. It’s just a prioritization, given recent global affairs.
Ken Herbert: Okay, that’s helpful. Because it sounds like it’s more just broader timing issues than specifically around, say, timing of the CR. And to that point, I know it’s early, but your backlog activity, contract activity, everything’s great. How much better could top-line growth in ’24 perhaps be than the implied growth this year?
Chuck Prow: So, again, how I would answer that is around the realities of the current global situation. We have a higher OPTEMPO, as you can see in our revenue. But we have several demand signals from our clients that have yet to come to fruition. So that would say is that, we see higher OPTEMPO on our current contracts. We have several demand requirements from our clients which could lead to new contracts. But at this point in time, none of those have actually closed. And again, the situation remains fluid and we continue steadfast support of our clients around the globe.
Ken Herbert: Perfect. Thanks, Chuck.
Chuck Prow: You’re welcome. Good talk.
Operator: Our next question is from Bert Subin with Stifel. Please proceed.
Bert W. Subin: Hi, good morning and appreciate the question. Chuck, has your view towards CENTCOM changed at all following events in Israel? I mean, based on the commentary there, you’ve noted sort of increased demand indications. I think previously we were seeing a lot of growth in INDOPACOM, and I think the expectation was CENTCOM would be pretty flat. I know, Israel itself, I think, falls into EUCOM, but I imagine there’s just greater demand or greater OPTEMPO in the region. Does that now become a story where you’re seeing sort of increased demand for task orders in both parts of your LOGCAP contract?
Chuck Prow: Actually, because of an alignment a couple of years ago, Israel does fall into CENTCOM. Again, that’s a change in the last 18 to 24 months. But I’ll add – I understood your question is exactly the right question. And again, just from a provider to our client’s perspective, we see a very balanced response and the associated balance on OPTEMPO across both INDOPACOM, CENTCOM and particularly Eastern Europe. As you are aware from a LOGCAP perspective, we’re aligned to both CENTCOM and INDOPACOM and we stand ready every day to support our clients as their OPTEMPO changes, as well as to provide input to potential new demand signals wherever we can.
Bert Subin: Maybe following up to that or following up to at least the Ken’s question on the margin side. I think if we went back to the merger, Vectrus and Vertex, the blended multiple just by putting you guys together was right around 8%. I mean, since then, it seems like Legacy Vectrus has been outgrowing due to some of those demand indicators that you mentioned. As we think forward, maybe not 4Q but maybe ’24, ’25 and beyond, is there enough growth sort of on both sides of the business to where you start thinking about 8% plus as synergies come into the mix? And just generally, how should we think about the margin, trying to balance some of these things like, I guess when you’re saying contract mix, you’re talking about being more cost plus heavy, which would make me think, probably more leaning towards the Vectrus side.
