“Moving on to industrial, while the forecast for industrial production in 2025 remains muted, our diverse business mix, strong service and robust franchise will help us grow in some markets.”

In context

“tinue to decline, though not to the levels we've seen in 2024. We expect coal demand will be met from existing high inventory levels. However, a new contract win with the Lower Colorado River Authority, also known as LCRA will help offset losses from 2025 coal retirement. While it's premature to predict grain export demand, domestic grain demand is expected to remain steady through the first half of 2025, driven by strong grain yields from a good harvest in 2024 as well as our efforts to serve both new and expanding facilities. Lastly, we expect continued strength in grain products, driven by intense business development and the expanding markets for renewable fuels and the associated feedstocks. We will continue to monitor potential changes in renewable diesel incentives and tax credits. Moving on to industrial, while the forecast for industrial production in 2025 remains muted, our diverse business mix, strong service and robust franchise will help us grow in some markets. The metals market is expected to remain soft. However, our industrial chemicals and plastics markets will remain favorable based on plant expansions with multiple strategic customers and our strong focus on business development. This strong focus is all about unleashing what's possible by empowering the commercial team. They are leveraging our Gulf Coast franchise and strong service to win. And wrapping up with premium on the intermodal side, we expect growth in domestic intermodal with over the roll conversions. Strong international intermodal volume experienced in 2024 creates tough year-over-year comparisons for us. And the mix issue continues as international volumes remain strong at the start of the year. Additionally, we are keeping a watchful eye on potential tariff changes that co”