CSX Corporation ( CSX Quick Quote CSX - Free Report) announced that it has entered into a tentative agreement with the Sheet Metal, Air, Rail and Transportation Workers-Transportation Division CSRA (SMART-TD CSRA), aimed at offering paid sick leave benefits. This deal (pending ratification by union members) is the 10 th one between CSX and its union-represented employees since February 2023. Most of CSX’s unionized workers now have paid sick leave benefits.
SMART-TD CSRA represents trainmen, conductors and yardmen on territories of CSX’s Atlanta and West Point railroad, Winston-Salem Southbound railway, Louisville and Nashville railroad, Nashville, Chattanooga and St. Louis Railway and Seaboard Coast Line railroad.
Such deals reflect CSX’s employee-friendly attitude. It tries to maintain cordial relations with its employees and the unions representing them, thereby providing a healthy work atmosphere.
Joe Hinrichs, CSX president and chief executive officer, stated, “The constructive cooperation that has enabled this initiative to move forward is a credit to the willingness of our union organizations to engage with CSX and recognize the sincere effort we are making to improve the work experience for our front-line employees.” He further added, “We will continue to work toward additional agreements as we listen to our employees and collaborate on solutions that benefit everyone who wants to see our railroad grow.”
Another company in the Zacks
Transportation – Rail industry that has recently inked a deal with the union is Norfolk Southern Corporation ( NSC Quick Quote NSC - Free Report) .
Norfolk Southern has entered into an agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET), aimed at offering up to seven paid sick days per year to BLET members. This deal will offer five new days of paid sick leave per year to Norfolk Southern engineers. Further, it will also provide them with the flexibility to use up to two additional days of existing paid time-off as sick leaves.
The deal covers more than 3,300 Norfolk Southern engineers, representing almost 25% of the NS craft workforce. With this agreement, almost all the company's craft employees (approximately 98%) entered paid sick leave deals.
Zacks Rank & Stocks to Consider
CSX currently carries a Zacks Rank #3 (Hold).
Investors interested in better-ranked stocks from the Zacks
Transportation sector can consider Copa Holdings, S.A. ( CPA Quick Quote CPA - Free Report) and Allegiant Travel Company ( ALGT Quick Quote ALGT - Free Report) . Copa Holdings sports a Zacks Rank #1 (Strong Buy), while Allegiant carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here .
Copa Holdings has an expected earnings growth rate of 52.54% for the current year. CPA delivered a trailing four-quarter earnings surprise of 33.35%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 14.6% over the past 90 days. Shares of CPA have soared 19.9% over the past six months.
Allegiant has an expected earnings growth rate of more than 100% for the current year. ALGT delivered a trailing four-quarter earnings surprise of 79.78%, on average.
The Zacks Consensus Estimate for ALGT’a current-year earnings has improved 42.4% over the past 90 days. Shares of ALGT have soared 23.4% over the past six months.