“Finally, as Jennifer laid out, our productivity and pricing gains will be key to overcoming ongoing inflationary pressures in 2024 as well as the soft economy.”

In context

“like to quickly summarize what you've heard from our team. Kenny outlined our view on the upcoming year. Our volume outlook today reflects headwinds from lost business, coal demand and relatively soft economic forecast. Much of that is out of our control. We are mitigating these impacts through business development and value creation by providing great service to our customers. Eric described the progress we've made to return our service levels to industry best, while there's work to do, the team made consistent improvement through the quarter to exit in a very fluid state. Obviously, winter is here, but that's part of railroading. I judge our success by how we minimize the impact on our customers and how quickly we recover the network. So far, we've grown - we've shown great resiliency. Finally, as Jennifer laid out, our productivity and pricing gains will be key to overcoming ongoing inflationary pressures in 2024 as well as the soft economy. While many unknowns remain, I'm confident we'll succeed in the areas we control. We've got plenty of opportunities this year to improve safety, service and operational excellence. As you heard me say in October, I came back to Union Pacific to win. My vision and the opportunity I see for this company has not changed. We have the right team and strategy in place to grow this railroad long term, and I'm very confident we'll see a better Union Pacific in the future. We're now ready to take your questions. Rob? Operator: Thank you, Mr. Vena. We'll now be conducting a question-and-answer session. [Operator Instructions] And our first question today is from the line of Chris Wetherbee with Citigroup. Please proceed with your question. Chris Wetherbee: Thanks. Good morning. Maybe if I could ask”