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Richa Harned

Director of Institutional Equity Sales (Industrials Specialist) at Deutsche Bank Ag\

Richa Harnain is a Director of Institutional Equity Sales (Industrials Specialist) at Deutsche Bank, focusing on research and coverage of key transportation, logistics, and industrial companies including FedEx and Hub Group. She covers 12 stocks in the general and industrials sectors, with recent recommendations such as an upgrade to Buy on Hub Group and coverage of FedEx, though her recent performance metrics include a 55.56% success rate and an average return per transaction of -14% according to TipRanks. Harnain has held her current position at Deutsche Bank since at least 2024, with her industry expertise recognized through her senior role and regular publication of equity research and ratings. Her professional credentials include direct experience in institutional equity analysis and coverage of transport sector equities, positioning her as a key institutional research specialist within Deutsche Bank’s Industrials team.

Richa Harned's questions to NORFOLK SOUTHERN (NSC) leadership

Question · Q1 2025

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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Question · Q1 2025

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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Richa Harned's questions to FEDEX (FDX) leadership

Question · Q3 2025

Richa Harne of Deutsche Bank inquired about FedEx's exposure to de minimis shipments, how the company is preparing for potential changes to the tax code, and how this is factored into the Q4 revenue outlook.

Answer

EVP and Chief Customer Officer Brie Carere stated that FedEx is operationally ready for any changes, having prepared its clearance teams and worked with customers, particularly those in Asia. She emphasized that the Q4 outlook assumes volume trends similar to Q3, also noting one fewer operating day in Q4.

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