Matthew Elkott: Okay. That’s helpful, Jean. And then on the order side, 3,200 unit seems, I guess, it’s a solid number, but it seems a bit light relative to the industry and also given how strong lease rates are and how tied some pockets of railcars are I’m just wondering what the order and inquiry activity for manufacturing is right now and if you’ve gotten orders after the third quarter?
Jean Savage: So looking at inquiry levels, it’s still supportive of our view of 40,000 to 50,000 car build for the industry, and we expect that over the next few years. Matt, you know that orders can be lumpy quarter-to-quarter. And we’re sitting with 50% of the industry backlog. And so we think we have a pretty good view into what’s going on. This year, there’s only been — we’re on the pace for 36,000 cars to come out of the industry. So attrition wise. And we’re still expecting that 40,000 to 50,000 cars to be built.
Operator: The next question comes from Steve Barger with KeyBanc Capital Markets.
Unidentified Analyst: This is actually Christian [indiscernible] on for Steve Barger. First question, could you just give us a sense on your thoughts on what the normalized level of deliveries are just given the current demand environment and backlogs?
Jean Savage: So the normalized level for deliveries, again, will match up with what we think the industry build will be, so 40,000 to 50,000 cars in a year. It can be lumpy quarter-to-quarter depending on what’s going on and what the car types are. So you can divide it by 4, if you want, but it does change a little bit. So that probably is the best answer I have for you on that question.
Unidentified Analyst: Got it. And then just what percentage of your backlog is slated for 2024 production how much for 25 and what is beyond that?
Jean Savage: So I think in third quarter of last year, we got a large multiyear order from GATX. And so our visibility is out for the next 5 years, at least for some of those orders. When you look at what we are going to deliver next year, they’re grabbing that number for me right now. So 40% of the backlog will deliver next year.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Jean Savage for any closing remarks.
Jean Savage: Well, thank you for joining us this morning. We’re proud of the third quarter results and the improvement we’re seeing in our business. We expect to close the year with solid momentum and strong financials. We look forward to sharing our progress with you then. .
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
