CSX Corporation Ratifies New Collective Bargaining Agreements with Key Labor Unions

CSX Corporation ratified new five-year agreements with two unions, enhancing wages and benefits for over half its workforce.

Quiver AI Summary

CSX Corporation announced the ratification of new five-year collective bargaining agreements with the Brotherhood of Railroad Signalmen and the International Brotherhood of Boilermakers, signaling strong collaboration with union leadership. CEO Joe Hinrichs highlighted the agreements' focus on enhancing safety, efficiency, and service while ensuring improved wages, health care, and paid time off for employees. With 13 labor unions now ratifying agreements covering 54% of CSX's unionized workforce, the company aims to reach similar agreements with the remaining rail unions representing Trainmen/Conductors and Locomotive Engineers. CSX, based in Jacksonville, Florida, plays a vital role in transportation and economic development in the U.S. with a broad service network.

Potential Positives

CSX has ratified new five-year collective bargaining agreements with two key labor unions, enhancing its labor relations and potentially increasing workforce stability.
The agreements cover a significant portion of CSX's unionized workforce (54%), indicating strong support from union leadership and employees.
The terms of the agreements include improved wages, health care, and paid time off, promoting employee satisfaction and retention.
CSX's commitment to working with remaining unions demonstrates a proactive approach to labor relations and a focus on unity within the company.

Potential Negatives

The press release implies ongoing negotiations with two remaining national rail unions, which may indicate potential instability or labor unrest if agreements are not reached in a timely manner.
CSX's reliance on collective bargaining agreements with various unions suggests that any disruption in negotiations could significantly impact operations and service delivery.
The focus on labor negotiations may divert attention from other critical business areas, such as safety and efficiency improvements, which can affect overall performance and customer satisfaction.

FAQ

What recent agreements has CSX ratified?

CSX has secured ratification of new five-year collective bargaining agreements with the Brotherhood of Railroad Signalmen and the International Brotherhood of Boilermakers.

How many labor unions has CSX ratified agreements with?

CSX has ratified agreements with 13 labor unions, covering 16 different work groups, accounting for 54 percent of its unionized workforce.

What benefits are included in the new CSX agreements?

The agreements provide improved wages, health care, and paid time off benefits for employees represented by the unions.

Who is the CEO of CSX Corporation?

Joe Hinrichs is the President and CEO of CSX Corporation.

Where can I find more information about CSX Corporation?

More information about CSX Corporation is available at www.csx.com and on their social media pages.

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 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $CSX stock by members of Congress over the last 6 months:

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.
REPRESENTATIVE JEFFERSON SHREVE sold up to $50,000 on 03/13.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$CSX Insider Trading Activity

$CSX insiders have traded $CSX stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $CSX stock by insiders over the last 6 months:

NATHAN D GOLDMAN (EVP & CLO) has made 0 purchases and 2 sales selling 118,588 shares for an estimated $4,197,315.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$CSX Hedge Fund Activity

We have seen 647 institutional investors add shares of $CSX stock to their portfolio, and 808 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 16,687,596 shares (+18.4%) to their portfolio in Q4 2024, for an estimated $538,508,722
AMERIPRISE FINANCIAL INC added 9,863,587 shares (+89.7%) to their portfolio in Q4 2024, for an estimated $318,297,952
PRICE T ROWE ASSOCIATES INC /MD/ removed 7,961,244 shares (-13.7%) from their portfolio in Q4 2024, for an estimated $256,909,343
CAPITAL WORLD INVESTORS removed 6,493,505 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $209,545,406
MITSUBISHI UFJ TRUST & BANKING CORP added 5,568,624 shares (+471.9%) to their portfolio in Q4 2024, for an estimated $179,699,496
FIDUCIARY MANAGEMENT INC /WI/ added 5,523,970 shares (+inf%) to their portfolio in Q4 2024, for an estimated $178,258,511
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 5,458,918 shares (-59.2%) from their portfolio in Q4 2024, for an estimated $176,159,283

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., April 30, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced that it has secured the ratification of new five-year collective bargaining agreements with the Brotherhood of Railroad Signalmen (BRS) and the International Brotherhood of Boilermakers, Iron Ship Builders, Forgers & Helpers (IBB).

“Ratifying these agreements reflects the trust we’ve built with union leadership and our shared commitment to the people who keep our company running,” said Joe Hinrichs, President and CEO of CSX. “Our focus continues to be on improving safety, efficiency, and service for our customers while building a stronger, more unified ONE CSX.”

To date, CSX has ratified agreements with 13 labor unions, covering 16 different work groups, accounting for 54 percent of its unionized workforce. The terms of the agreements are aligned, providing equivalent packages of improved wages, health care, and paid time off benefits.

CSX remains committed to working with the two remaining national rail unions representing Trainmen/Conductors and Locomotive Engineers to reach similar agreements and continuing to partner with employees to make meaningful improvements in their work environment.

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