CSX Inks Landmark Labor Deal With Locomotive Engineers

CSX’s CSX successful ratification of a five-year labor agreement with the Brotherhood of Locomotive Engineers and Trainmen (“BLET”) marks a pivotal achievement in its labor relations strategy. Covering approximately 3,400 locomotive engineers, this agreement represents the first of its kind between a Class I freight railroad and BLET, signaling a significant breakthrough in collaborative labor negotiations.The move underscores CSX’s commitment to strengthening relationships with its workforce and enhancing operational stability across its network.This agreement aligns with the wage increases, and health and welfare improvements previously negotiated with 13 other unions, reflecting CSX’s consistent and balanced approach to labor contracts. With nearly 75% of its unionized employees now covered under new agreements in the past 10 months, CSX is clearly prioritizing labor continuity and employee well-being.This widespread ratification is expected to improve workforce morale, enhance service reliability, and support the company’s long-term growth and efficiency goals.However, negotiations remain ongoing with SMART-TD, which represents trainmen and conductors — the only major workgroup not yet covered under a new or tentative agreement. CSX’s current efforts to consolidate territories and unify the workforce under a single-system agreement demonstrate its intent to simplify operations and build a more cohesive labor structure. If successful, this final phase of negotiations would solidify CSX’s labor foundation, positioning the company to move forward with enhanced workforce alignment and a stronger operational outlook.CSX’s Zacks RankCSX currently carries a Zacks Rank #4 (Sell).Stocks to ConsiderInvestors interested in the Transportation sector may consider Copa Holdings CPA and Ryanair RYAAY.CPA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.CPA has an expected earnings growth rate of 14.3% for the current year. The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average beat of 5.5%. Shares of CPA have risen 20.7% year to date.RYAAY currently carries a Zacks Rank of #2 (Buy).RYAAY has an expected earnings growth rate of 30.5% for the current year. The company has a mixed earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, delivering an average beat of 46.6%. Shares of RYAAY have rallied 31.7% year to date.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report CSX Corporation (CSX): Free Stock Analysis Report Copa Holdings, S.A. (CPA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks