“We are highly confident in our ability to generate price dollars in excess of inflation dollars and still expect freight revenue to pace ahead of volume in 2024.”

In context

“ue to be A rated by our three credit rating agencies. Wrapping up on Slide 7, as we’ve reached the midway point of 2024, there remains some uncertainty about the second half recovery that many were forecasting. As Kenny will detail, there are definitely markets where we’re seeing growth and much of that growth is being driven by our business development efforts. There also are some challenge markets, particularly coal. Operationally, the team is making great progress towards our long-term goals to be the best in safety, service and operational excellence. This is reflected in the progress in our safety and performance metrics, including our margins. Importantly, we believe the trend is indicative of where we can get to long-term and each successive quarter is a step on our way to winning. We are highly confident in our ability to generate price dollars in excess of inflation dollars and still expect freight revenue to pace ahead of volume in 2024. We also remain committed to our long-term capital allocation strategy. This includes last week’s announcement of a 3% increase in our dividend as we drive higher returns to our owners. This increase represents the 18th year in a row of annual dividend increases. With share repurchases, we expect to repurchase around $1.5 billion in 2024 as we maintain our current leverage. Before I turn it over to Kenny, I’d summarize our second quarter financial performance as strong and our confidence in the future stronger as we continue to unlock the potential of our great franchise. We’re excited to execute on our strategy in the second half and lay out more of our long-term thoughts at our Investor Day in September. Kenny? Kenny Rocker: Thank you, Jennifer, and good morning. As Jennifer mentioned, w”