Scott Group
Wolfe Research, LLC

All right, morning, everyone. We're going to get going with our next session. We are now at the transport portion of the conference, starting with Union Pacific. I'm really happy to have Jim Vena, CEO; and Jennifer Hamann, CFO, back at our conference. Thank you guys for being here. Jim and Jennifer have a quick couple of opening comments and some slides to show, and then we will get right into questions. So I'll pass it off to you. Thank you, Jim. Thank you, Jennifer.

Vincenzo Vena
CEO & Director

Perfect. Listen, I'm looking forward to the questions. So let me see if I can get this done in 1 minute. Okay. So real quick, morning. We already ran into each other, Scott. So wonderful. Of course, Jennifer is here with me and if we really run into trouble, Diana's here with us, okay? They always get me to tell you that we're going to make some forward-looking statements. If you have any -- you need any more clarification of something that Jennifer says wrong then just make sure that you give us a call, okay? And if we go to Slide 3, and this is real important about the base of where we are, you can see our strong execution continues to deliver industry-leading across safety, service and operational excellence.

And we enter 2026 in a real strong and the first quarter is very similar to what we did in 2025. So real happy. We led in the industry in return on