CSX employees ratified a five-year agreement with BLET, improving wages and benefits for 3,400 locomotive engineers.
Quiver AI Summary
CSX Corporation announced the ratification of a five-year collective bargaining agreement by employees represented by the Brotherhood of Locomotive Engineers and Trainmen, covering around 3,400 locomotive engineers. This marks the first agreement ratified between a Class I freight railroad and BLET. CSX President and CEO Joe Hinrichs emphasized the significance of this partnership and the agreement's alignment with wage and health improvements from other recent union agreements. Locomotive engineers constitute about 20% of CSX’s frontline workforce, and nearly 75% of CSX's unionized employees are now under new agreements. The only remaining group not covered are trainmen/conductors represented by SMART-TD, with ongoing negotiations for a consolidated agreement. CSX, based in Jacksonville, Florida, provides vital transportation services across various industries and has a long history of supporting the nation’s economy.
Potential Positives
- CSX Corporation has successfully ratified a five-year collective bargaining agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET), marking a significant achievement as it is the first ratification reached by a Class I freight railroad with BLET.
- This agreement covers approximately 3,400 locomotive engineers, who represent about 20 percent of CSX’s frontline workforce, ensuring stability and satisfaction among a key segment of employees.
- The ratified agreement aligns with previous agreements made with 13 other unions, reflecting a comprehensive approach to employee welfare through wage increases and health and welfare improvements.
- With nearly 75 percent of CSX unionized workers now covered by new agreements reached within the last 10 months, the company demonstrates strong progress in labor relations and worker satisfaction.
Potential Negatives
- The press release highlights that a significant portion of CSX's workforce (approximately 25%) remains without new agreements, indicating ongoing labor negotiations and potential instability in labor relations.
- The press release does not provide details on the outcomes of negotiations with the remaining employee group (trainmen/conductors), which could suggest unresolved issues that may affect operations or employee morale.
- Despite achieving a ratified agreement with BLET, the situation could imply that previous negotiations may have been contentious or prolonged, reflecting potential underlying issues within labor relations at CSX.
FAQ
What did CSX Corporation announce on June 11, 2025?
CSX Corporation announced that locomotive engineers represented by BLET ratified a five-year collective bargaining agreement.
How many locomotive engineers are affected by the new agreement?
Approximately 3,400 locomotive engineers at CSX are affected by the newly ratified agreement.
What does the ratified agreement include?
The agreement includes general wage increases and health and welfare improvements similar to other union agreements.
What percentage of CSX's workforce do locomotive engineers comprise?
Locomotive engineers make up about 20 percent of CSX's frontline workforce.
Which group at CSX is still in negotiations for a new agreement?
The trainmen/conductors represented by SMART-TD are the only remaining group not covered by new agreements.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CSX Congressional Stock Trading
Members of Congress have traded $CSX stock 9 times in the past 6 months. Of those trades, 3 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $CSX stock by members of Congress over the last 6 months:
- SENATOR MARKWAYNE MULLIN has traded it 2 times. They made 1 purchase worth up to $50,000 on 05/13 and 1 sale worth up to $50,000 on 04/08.
- REPRESENTATIVE BRUCE WESTERMAN has traded it 2 times. They made 1 purchase worth up to $15,000 on 04/08 and 1 sale worth up to $15,000 on 04/21.
- REPRESENTATIVE JEFFERSON SHREVE has traded it 2 times. They made 1 purchase worth up to $50,000 on 04/17 and 1 sale worth up to $50,000 on 03/13.
- SENATOR TOMMY TUBERVILLE sold up to $50,000 on 04/15.
- REPRESENTATIVE ROBERT BRESNAHAN has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 04/08, 02/25.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$CSX Hedge Fund Activity
We have seen 681 institutional investors add shares of $CSX stock to their portfolio, and 915 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO removed 30,866,669 shares (-28.8%) from their portfolio in Q1 2025, for an estimated $908,406,068
- PRICE T ROWE ASSOCIATES INC /MD/ removed 24,683,402 shares (-49.2%) from their portfolio in Q1 2025, for an estimated $726,432,520
- CAPITAL INTERNATIONAL INVESTORS removed 14,861,292 shares (-45.4%) from their portfolio in Q1 2025, for an estimated $437,367,823
- BLACKROCK, INC. removed 13,748,719 shares (-9.0%) from their portfolio in Q1 2025, for an estimated $404,624,800
- BANK OF AMERICA CORP /DE/ removed 13,002,960 shares (-43.8%) from their portfolio in Q1 2025, for an estimated $382,677,112
- SOROBAN CAPITAL PARTNERS LP removed 10,085,280 shares (-59.3%) from their portfolio in Q1 2025, for an estimated $296,809,790
- QUBE RESEARCH & TECHNOLOGIES LTD added 7,489,303 shares (+275.0%) to their portfolio in Q1 2025, for an estimated $220,410,187
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$CSX Analyst Ratings
Wall Street analysts have issued reports on $CSX in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Overweight" rating on 04/02/2025
- Susquehanna issued a "Positive" rating on 03/27/2025
- Citigroup issued a "Buy" rating on 01/24/2025
- Jefferies issued a "Buy" rating on 01/10/2025
To track analyst ratings and price targets for $CSX, check out Quiver Quantitative's $CSX forecast page.
$CSX Price Targets
Multiple analysts have issued price targets for $CSX recently. We have seen 4 analysts offer price targets for $CSX in the last 6 months, with a median target of $34.0.
Here are some recent targets:
- An analyst from Argus Research set a target price of $32.0 on 04/25/2025
- Bascome Majors from Susquehanna set a target price of $37.0 on 03/27/2025
- An analyst from Deutsche Bank set a target price of $34.0 on 03/07/2025
- Rick Paterson from Loop Capital Markets set a target price of $34.0 on 02/03/2025
Full Release
JACKSONVILLE, Fla., June 11, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced that employees represented by the Brotherhood of Locomotive Engineers and Trainmen (BLET) have voted to ratify the five-year collective bargaining agreement covering approximately 3,400 locomotive engineers. This is the first ratification reached by a Class I freight railroad with BLET.
“The ratified agreement demonstrates the value of our partnership with BLET, our CSX General Chairmen, and our shared commitment to improving the day-to-day experience for our locomotive engineers,” said Joe Hinrichs, President and CEO of CSX. “I want to thank our engineers for their unwavering dedication to our customers and the communities in which we live and work. This is a significant milestone for our people and the future of our railroad.”
The agreement mirrors the general wage increases, and health and welfare improvements from CSX's agreements with 13 other unions.
Locomotive engineers make up approximately 20 percent of CSX’s frontline workforce. To date, nearly 75 percent of CSX unionized workers are now covered by new agreements reached within the last 10 months.
The only remaining major workgroup at CSX not covered by new agreements or a tentative agreement are trainmen/conductors represented by SMART-TD. CSX is currently engaged in bargaining with SMART-TD to consolidate separate territories, workforces, and execute a single-system collective agreement.
About CSX
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook ( http://facebook.com/OfficialCSX ) and follow us on X, formerly known as Twitter ( http://twitter.com/CSX ).
Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397
