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    Richa Harned • Deutsche Bank

    Richa Harned's questions to Norfolk Southern Corp (NSC) leadership

    Richa Harned's questions to Norfolk Southern Corp (NSC) leadership • Q1 2025

    Question

    Richa Harned asked about the stickiness of recent market share gains, especially with a peer expecting to recover lost business, and questioned if Norfolk Southern could still grow operating profit if revenue were to be flat or down.

    Answer

    CEO Mark George affirmed the goal is to grow operating profit even in a down-revenue scenario by trimming costs and remaining nimble. CCO Ed Elkins addressed the share gain question, stating that as they deliver reliable service, the business becomes sticky because rail is a more efficient and cost-effective mode for customers, helping them save money and build trust.

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    Richa Harned's questions to Norfolk Southern Corp (NSC) leadership • Q1 2025

    Question

    Richa Harned of Deutsche Bank AG asked about the stickiness of recent market share gains and whether Norfolk Southern could grow operating profit even if revenue is flat or down.

    Answer

    CCO Ed Elkins asserted that share gains will be 'sticky' as they are based on providing a reliable and cost-effective service. President and CEO Mark George confirmed the company's goal is 'absolutely' to grow operating profit in a flat or down revenue scenario by leveraging cost-out programs and operational agility.

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