The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jed Bruss - Robert W. Baird - Analyst
: Hi. Good morning. Thanks for doing the call today. I just have a quick question on your acquisitions in the quarter. It seems like they are ramping
up. I'm just curious, is that a result of just valuations in the market right now? Or have you shifted your strategy towards more acquiring new
locations rather than starting them?
Question: Jed Bruss - Robert W. Baird - Analyst
: Thanks for that. As a bondholder I definitely appreciate staying within your range to get these done. I guess just adding on to that, what is more
important to you guys when looking at these acquisitions? Is it the actual location or is it just the acquiring of additional equipment?
Question: Andy Toussaint - PIMCO Equity Advisors - Analyst
: Good morning, guys. Just a few quick ones from me. I guess you alluded to cost inflation in terms of the tight equipment market. Could you just
qualify and I guess quantify what concentration you are seeing in terms of new equipment? I think some of your peers have provided some insight
there, so I just wanted to triangulate with you guys as well.
Question: Andy Toussaint - PIMCO Equity Advisors - Analyst
: Got it. That's helpful. And just on the other part is also, obviously, we've seen a significant ramp in fuel -- fuel costs recently. Could you expand
more in terms of plants mitigated. Obviously you're going to have mixed pricing growth and utilization. I guess you mentioned something about
delivery cost recovery. Could you expand on that one specifically? Is it (multiple speakers) pricing model or cost (multiple speakers)?
Question: Andy Toussaint - PIMCO Equity Advisors - Analyst
: And I guess more, this is probably a medium-term target question, but I think some people have already mentioned, I guess, timing for the
infrastructure bill or tailwinds from it, I guess. When do you expect to see tailwinds from infrastructure spending? Could you size the potential
opportunity there and which end markets are more likely to benefit -- at least in the US?
Question: Andy Toussaint - PIMCO Equity Advisors - Analyst
: Okay, that's good insights there. That's all for me for now. I'll just jump back in line or the queue really.
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