Union Pacific Corporation

Greetings. Welcome to the Union Pacific Fourth Quarter 2025 Earnings Conference Call. At this time, we'll dispense our listening mode. A brief question and answer session will follow the formal presentation. As a reminder, this conference is being recorded, and the slides for today's presentation are available on Union Pacific's website. At this time, it is now my pleasure to introduce your host, Mr. Jim Venner, Chief Executive Officer for Union Pacific. Thank you, Mr. Gunner. You may begin.

Thank you, Rob. Appreciate. Let's keep going this morning. But maybe let's just take a second before we get into the prepared remarks. And then I'm really looking forward to the questions and answers. I'm sure there won't be anything on mergers. It'll be all about how good Eric and the team are running the railroad. But thanks for joining us this morning. But I do need to call out the entire Union Pacific team. We've had a significant weather event that impacted a vast majority of the United States of America from one end to the other. And we felt it in the southern region that has these storms come through, but I'm telling you, it used to take us weeks to recover. And Eric and the team have done a spectacular job. I wouldn't say that we're at 100% this morning recovered, but Eric's promised me by the time I look at the metrics on Thursday morning, we'll be back to normal. Eric, listen, you and the team, you want to just give a quick update on some of the big impacts, what's left to do here in the next, so the customers that might be listed and can understand exactly where we are.

Yeah, to your point, Jim, the team has done a heck of a job and it really is in that Texas and really in the Louisiana, Arkansas area and really where we are pretty much 70% recovered. And that includes partnering with a lot of our customers who, when this weather happens, they have to make adjustments to their, to their operations as well. We welcome that. We work with Kenny's team to be able to do that. And like you said, we wake up Thursday morning, we should be back.