“we don't think that we're going to get any help from price.”

In context

“different manner than you expected twelve months ago. But just help us understand a little bit. You said price may not be a driver of improving margins in 2026 and the accelerated inflation. You talked about 4% on the comp per employee, you're not expecting a macro recovery. So how do you get to OR improvement in in '26? Is this a a function of headcount, productivity, If there's any way to frame, the magnitude based on what you see today and, you know, if Kenny laid out from a macro standpoint. That'd be helpful. Jennifer Hamann: Yeah. Thanks for that question, Jonathan. So so you heard that right in terms of from what we're expecting today at least as we sit here from a price standpoint that while we absolutely believe that we will and have a plan to improve our operating ratio in 2026, we don't think that we're going to get any help from price. Of course, that's an early look. And really, it's a function of a couple things. We definitely benefited in 2025 natural gas prices and strong coal pricing. While that may hold, we're just not going to have that as a tailwind for us in 2026. And then you still have a pretty weak domestic intermodal market. Those two things really are what's reflected in that pricing commentary. Terms of productivity, Eric and his team did a fantastic job in 2025. Driving productivity, driving efficiency, and we have more ahead of us 2026. And so that definitely will be a continued tailwind for us as we move into 2026. That's going to be supportive of improving our margins. And then the last thing I'll mention is the business mix. It should be a more favorable business mix for us in 2020 than in 2025. Now,”