All of that obviously is offset by the reality that as this market does turn, there’s going to be pressure in the non-asset space. You’re going to see buy side pressure that isn’t always synced with the ability to gain that same relief from a sell-side perspective. And so there’s going to be some puts and takes as we work our way through all of that. What we’re especially pleased about within Logistics though is the resiliency of the Power Only product. That product, in particular, which is really an integrated product within our One-Way network, is holding up remarkably well. We have – we’re very optimistic on our ability to continue to grow that, give our customers a seamless experience but be able to give ourselves a little bit as less asset-intensive exposure and while providing ongoing freight via Werner Bridge and more of a digital format to our customer partners and really lowering their operating costs at the same time.
So pretty exciting time as I think about that business over the next, call it, two to three year outlook.
Elliot Alper: Right. I appreciate it. Thank you.
Derek Leathers: Thank you.
Operator: The next question is from Jack Atkins with Stephens. Please go ahead.
Jack Atkins: Okay, great. Good afternoon guys. Thanks for taking my questions. So I don’t know, if Derek, if you want to take this or if this one is better for Chris. But I guess as you sort of think about the trajectory here as we head into the back half of the year, in the context of the longer-term 12% to 17% TTS margin range, I understand this has been a much more challenging freight recession than I think anybody could have anticipated. But do you still feel like that the bottom end of that range is achievable for this year? And if so, sort of what sort of fourth quarter do you need to see to be able to get there?
Derek Leathers: Yes, Jack, thanks for the question. Clearly, that’s going to be challenged. There is a lot of headwinds that we’ve got to continue to work through as it relates to declining used truck values and volumes. We’ve got to continue to deal with the reality that although we’re over three quarters of the way through our bid season, we have some of those bids that are still being implemented in Q3. Hence, the updated guidance on price. Interest rates and where they may go on the portion of our debt that’s variable. I mean there’s a lot of things to think through. But we’re making progress on the cost side. We’re holding serve relative to revenues and volumes, and we’re proud of our positioning there.
The pipeline in Dedicated looks good. The opportunities in – for second half implementations in Dedicated that are sort of one and yet to be implemented is encouraging. And frankly, some of the efficiencies that we’re finding on the One-Way side, seeing productivity go positive year-over-year for the first time in multiple quarters is encouraging. We believe we have more work to do to gain even further efficiencies and optimization in the network. Bottom line this year, challenging. I don’t believe it’s worthy of us changing our long-term guidance. We may fall out of it for a quarter or two. But over the course of the long term, we still feel very comfortable. That’s where we belong. That’s where we’ll live, and we’ll continue to drive forward from there.
Jack Atkins: Okay. No, I appreciate that, Derek. And thank you for the context there. I guess for my second question, I’d love to get you to talk a little bit more about Werner Bridge and kind of going back to the both the prepared comments into the last question but – or last questioner. But as you sort of think about Werner Bridge longer term within the context of your technology journey, is this something that can really integrate what you’re doing within TTS broadly, within also Logistics? I mean is this – help us kind of think about what this means for more of an integrated kind of go-to-market strategy within your business longer term?
Derek Leathers: Sure, Jack. I’ll do my best to do exactly that. I think I got to back you up before we get to Werner Bridge and talk more broadly about sort of the EDGE TMS strategy overall with the – with MasterMind as kind of the backbone of that strategy. That’s really the platform, if you will, that allows us over the next couple of years to continue to land all of the portfolio on one core platform with full integration, visibility and thus flexibility in how we execute on our customers’ needs. Werner Bridge is a component within that that’s allowing us to make a large step forward in this sort of digital brokerage space. That puts us in a position, especially at that small to midsize customer level, to be able to operate highly efficiently with human engagement still where required, with the kind of customer service and support that our customers have come to expect.
