Chris Wetherbee

can you talk a little bit about spot activity and maybe in the context of the contract comments that you're talking about, what level of contract rate increases we're seeing

are there limitations on productivity, obviously, within reason that require a deceleration as we get past 2026

as you start to think about what's possible with the business, I don't know if you've rethought what you think the potential opportunity is on the margin side

as you see that opportunity where maybe volume is a little bit softer, are there some other levers you can pull on the productivity side a little shorter term

how do you think about those separate opportunities of the gross profit margins and then ultimately, the operating margins as we're in this type of market

I was hoping maybe you could sort of outline some of the productivity opportunities that you've uncovered

is there anything meaningful that you see that would sort of prevent the ability to get back to those levels

do think CSX is well positioned to take advantage of that as we go through a period of uncertainty over time

What you think in the second half is sort of where the opportunities for growth for you to get to that full year back to positive

I think you guys talked about potentially growing profit in the back half of the year. I guess, when you think about that, is that something that is maybe a little bit harder to do

can you talk maybe a little bit about the pricing outlook that you think about '25, how that compares to 2024

what are the things that we should be thinking about as risk to the downside outside of obvious macro challenges that may arise?

as we think about sort of a normalization and maybe improvement as we go through 'twenty six, what can that sort of spread look like?

where are there further opportunities on the cost side? And maybe if we can take a peek a little early at the bridge

I guess, trying to get a sense that there are some temporary costs associated with the spin to stuff come out

Should we assume that 4% revenue growth lines up with 17.20 and 6%? Is it the $19 side

help us understand and break it down a little bit between maybe de minimis or what we're seeing and so China to the US

get a sense of what you need to see to start to begin to stabilize them and maybe move them forward

I also wanted to kind of think about LTL or the freight business within that context.

how do you think about broadly the demand environment? And then maybe as a second piece, how we should think about the knock-on effect of fuel driving volume to intermodal

how do we think about the progress? What is the opportunity for you in 2026 on the cost side

Can you give us a little sense maybe by segment how that played out? Any examples that you can provide in terms of detail would be great too

is that separate than the $60 million I think you guys have talked about in the past in terms of capacity opportunities

is it gonna be more dictated by sort of mix of the business? And that's what you know, yields might be influenced by more so as we move forward

Do you think we get rate increases in intermodal in 2025 as you kind of complete the bid season over the next, you know, couple of months

I just want to make sure that you're talking about the sequential decline in operating profit for the entire business, not just one of the segments

Since March 1, how many fare increases have you put through

I guess I wanted to talk a little bit about the business commentary and I guess what you're looking to see over the course of the next couple of weeks

you mentioned normal OR seasonality 1Q to 2Q. Just kind of curious what you see that normal seasonality as being

you talked a little bit about competitive activity, I think, particularly in Intermodal as it relates to the merger

I was hoping maybe you could unpack the OpEx guidance, maybe help us walk from, I guess, the roughly $8 billion in 2025 to where you see it going in 2026?

how much sort of OR opportunity do you think there is that you can control and maybe how much is more revenue dependent?

wanted to ask about yields. So merchandise stepped up. I know we have a record there

break that down into buckets so we can understand where we can kind of source that

how you feel about, I guess, demand and then, ultimately, how you're faring from a market share perspective as you think about coming out of the really strong performance

Maybe I'll just pick up on that and ask about the first quarter kind of sequential from an operating ratio perspective and maybe any thoughts you have on revenue per day for the first quarter as well?

Kind of curious what you're seeing from a demand perspective. Obviously, it seems like there's some softness in the first part of October

Kind of how do you think about sort of the normal progression from 2Q to 3Q on the OR, and maybe kind of how you feel like you can fare

it sounds like April, maybe if there's softness in April, it was more concentrated earlier in the month and then things have maybe kind of stabilized

kind of get a sense of maybe how you're seeing the environment. Fourth quarter revenue per hundredweight came in, you know, reasonably good

I just want to understand the mechanism behind that. Is it just simply duration? Is it the sort of competitive actions around capacity that others take?

how good of a benchmark or sort of range that for us to use as we think about sort of ex labor dynamics of unit costs for 2026?

are there incremental productivity sort of opportunities that are becoming more apparent to you

can you talk to us about how that sort of discussion is developing

I was curious about sort of the pricing environment as we move into next year

how you see sort of the receptivity of the other stakeholders in the industry as you think about what Union Pacific is trying to accomplish

I was kinda curious if you wanted to maybe put a little bit of a finer point, kinda think about what the potential outcomes could be

international intermodal has got some pretty challenging comps, particularly as you move into the second half of the year

can you just give a sense of what the impact will be if there will be a benefit in 2Q from that

is this sort of where you want the portfolio? Do you think there is incremental work that needs to be done around that

just get a sense of some of the pressure there, maybe we can sort of break out some of the individual costs or de minimis pressures as we go through the first quarter specifically, but also the fir...

where you think you are in the glide down, can you give us a little sense of maybe what we can start to think about for 2026 from a domestic margin perspective?

is this sort of the right profitability level for the business going forward, assuming things don't change materially on the tariff side