Walter Spracklin: Okay. So that’s great. And then on acquisitions, when you’re buying a lot of companies, it was indicated by one of your peers that sometimes they come with some assets that are in areas that you may not necessarily want to be in or is more difficult to operate in and it’s leading to some asset sales by one of your peers. Is that something that you’re finding as well? Would you consider kind of pruning or swapping? Would you be buying assets that competitors are selling in markets where perhaps they’re smaller and your larger and vice versa? Is that something that you see a possibility as doing? Or are most of your acquisitions in areas you want to be and kind of build up in that area?
Worthing Jackman: Yes. If you think about, again, the profile of the companies we’re buying, typically they’re in a singular market, right? So it’s not like they’re coming with multistate operations and we love two of the states, but not a third state, et cetera. So when you’re the size companies that we’re talking about and profiling, then there’s really nothing to divest. I mean, episodically, do they come with — might they have a bad municipal contract that we need to play out and reprise and be agnostic whether we keep it or lose it? Sure. But it’s not a wholesale geographic exit.
Walter Spracklin: Okay. That addresses my questions. Appreciate it. Turn it back.
Operator: Next question will be from Noah Kaye, Oppenheimer.
Noah Kaye: Maybe give us a picture on the labor front. When we start to lap these high single-digit rates of labor pressure flowing through the P&L, how would that play into the margin outlook that you’ve outlined for the back half and some of the expectations that you outlined for 2024?
Worthing Jackman: Sure. Well, I would say, of course, wage rates stay in what I call the mid to high single digits from a from an overall pressure standpoint, I think wages and wage pressures for the service economy generally will be more persistent than software engineers and others that you’ve seen in the headlines getting laid off. It’s — obviously, we price above wage pressures, and you’ve seen that consistently. I’d say the good news on labor is that as we move through Q4, turnover improved sequentially as we move through the year and entered this year, our ability to hire has improved month-to-month as we move through the year, and Q4 was one of our highest periods for new hires. And I say that because the one pressure that’s been on wages during the last 2 years when hiring was more difficult was the scale of the new employee coming in was intersecting somewhere that within the current wage scale of existing operation, which will put pressure on the wage for existing employees, that’s abated.
And so now we’re looking at more typical and normalized wages. Obviously, the wages we put in place for the year are mostly in place. And so we’ll live with that this year. But clearly, if inflation steps down as we move throughout the year and get into ’24, as turnover continues to improve and retention improve, I certainly expect wages — the wage pressure to be mid to low single digits as we move into ’24.
Noah Kaye: That’s great color. And I’m sure others will ask about some specific guidance items, but I just want to ask, what is the actual sustainability CapEx budget for 2023 since you mentioned some shift in the timing?
Mary Anne Whitney: Right, so as we mentioned, a little bit did shift from ’22 to ’23, we had originally been contemplated, the $150 million would get spent $122 million and $50 million in ’23, and that shifted to more like 75, and 75 or a little more than that given the new project. So 75 — call it, $75 million to $85 million in 2023.
Noah Kaye: Okay. So really no — sorry, go ahead, Worthing.
