“Overall, we anticipate a soft economic environment and face difficult comps in 2025, but I'm excited about onboarding LCRA, the new coal customer mentioned earlier, and I'm encouraged by the incremental volume we will gain from new and expanding facilities across multiple business segments.”

In context

“mmercial 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 could further impact volumes. Even though we are early in the year, we are seeing automotive OEMs curtail production to better manage high inventories. However, consistent with S&P Global's outlook and our conversations with customers, we expect a positive trend with output increasing as the year progresses. Overall, we anticipate a soft economic environment and face difficult comps in 2025, but I'm excited about onboarding LCRA, the new coal customer mentioned earlier, and I'm encouraged by the incremental volume we will gain from new and expanding facilities across multiple business segments. In fact, we currently have over 200 track construction projects in progress with a potential revenue of $1.5 billion, and our business development pipeline is just as strong as it was this time last year. We continue to invest in intermodal, which Eric will touch on. You heard me discuss new unit train facilities added to our network and we are bullish on industrial development projects in the Gulf Coast with a mix of large and small customers. I'm proud of the commercial team. They continue to hustle and we will maintain our strong pricing posture in 2025. And with that, I'll turn it over to Eric to review our operational performance. Eric Gehringer: Thank you, Kenny, and good morning. Moving to Slide 13. Before diving into our results, I want to express my appreciation to the team for t”