Scott Group
Wolfe Research, LLC

We're going to get going with our next session with Canadian Pacific Kansas City, CPKC. Keith Creel, CEO, is back at the conference. Thanks so much for being here, Keith. I appreciate it. And Keith, maybe just a couple of quick opening comments, and we got lots to talk about.

Keith Creel
CEO, President & Director

Yes, I imagine. Yes, imagine. So listen, high level, thanks, Scott. It's always a pleasure to come and address your conference and all the investors that are here with us and not with us listening. I can tell you kind of a 3-year check-in. CPKC just celebrated our third year anniversary of kind of our forever story. We brought this railroad together to create a very unique network, end-to-end network to enhance competition, increase competition and enable more markets to be connected and to grow. And that's exactly what we've done in spite of the macro. This railroad has created some industry unique results over the last 3 years.

This year, no different, in spite of a pretty challenging first quarter with quite a bit of demand fundamentally. The grain is running extremely well, strong harvest in Canada. Operational efficiencies is exceeding my expectations, and I've got pretty high expectations. The network is running well. Same is true about most of the bulk franchise, except for coal. We said this in the first quarter. I think right now, quarter-to-date, RTMs were up approaching 3%. If not for coal, it would be 3% more. So that's a bit of a headwind. We think will normalize, at least not be