Philip Schlom: Yes, it’s a seasonally slower, and then we’ve got the [Deja Blue] project funding in Q4 and Q1 that were more of the equipment’s arriving. But we have done really well with $85 million in debt reduction through the first three quarters, and we are hopeful and focused on trying to reduce that further in Q4.
Adam Thalhimer: Great. Okay. Perfect. Thanks, guys.
Operator: The next question comes from Jon Braatz of Kansas City Capital. Please go ahead.
Jon Braatz: Good morning, everyone. Tom, I guess one of my questions is if you had the opportunity and at the right price, would you have any interest in selling your 40% interest in your subsidiary or your venture?
Tom Ferguson: Yes, I think that’s – first I’ll say I like the AVAIL team. But, yes, it’s an investment that – and we sold it to investors. They’ve got some transaction date in their mind, and as they continue to hopefully grow and improve the business. But, yes, it’s an investment for us. We like the people over there. But, yes, if we get the opportunity to do that, absolutely. We consider it both strategically and tactically as we have these discussions with our Board.
Jon Braatz: Okay. Okay. And also, Tom, you mentioned that you’re seeing some – in the Metal Coatings business some price sensitivity out there. Relative maybe to where it was last quarter, has there been any movement in that price sensitivity, getting worse, getting better? Any thoughts on that?
Tom Ferguson: I think one of the things that happens to us, we come in as winter months hit and the construction slows down and infrastructure projects slow down, I think we always kind of sense that there’s more price sensitivity. Quite frankly, I’m not so sure that what we’re just feeling is the normal volume fall off as we get into winter months and slower construction, because it hasn’t worsened and really hasn’t changed much since our last comments. And a lot of it does boil down to what’s the mix of activity. I don’t necessarily want to call out which pieces of our business are more profitable and alienate customers. But let’s just say when that mix shifts and we move off of some of the stuff that’s a little lower priced – not that we have bad business, by the way.
So we do see the price move with that. So I have to say we’re holding our price points and our price multipliers very carefully and then following the mix. So we have not seen any worsening of the signs and we haven’t really seen any worsening of volumes, but we’re just coming through the holidays. So our folks actually had a few days off for a change, which was probably nice for them, and hopefully they’re all rejuvenated as we fit the new year.
Jon Braatz: Okay. All right. Thank you, Tom.
Tom Ferguson: All right. Thanks.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Tom Ferguson for any closing remarks.
Tom Ferguson: Thank you, operator. Thank you all for your time today. I really look forward to updating you on our fourth quarter and full year results in a few months and issuing fiscal 2025 guidance. So thank you for your time.
Operator: The conference is now concluded. Thank you for attending today’s presentation and you may now disconnect.
