CSX Corporation reached a tentative five-year agreement with BLET covering 3,400 locomotive engineers, enhancing pay and healthcare.
Quiver AI Summary
CSX Corporation announced a tentative five-year agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET) that will affect approximately 3,400 locomotive engineers. This marks the first agreement between a Class I freight railroad and BLET, reflecting CSX's innovative approach to collective bargaining in the rail industry. The agreement, resulting from months of negotiations, includes competitive pay, improved healthcare, and better work rules for engineers. If ratified, it will extend new agreements to nearly 75% of CSX's unionized workers, with prior agreements covering 54% to date. Currently, negotiations are ongoing with the remaining major group of trainmen/conductors represented by SMART-TD. CSX, based in Jacksonville, Florida, has provided comprehensive transportation services for nearly 200 years and connects significant metropolitan areas and ports across the eastern United States.
Potential Positives
- CSX has reached a significant tentative agreement with the Brotherhood of Locomotive Engineers and Trainmen, covering approximately 3,400 locomotive engineers, highlighting its leadership in collective bargaining within the rail industry.
- The agreement offers competitive pay and improved health care for locomotive engineers, enhancing employee satisfaction and retention.
- If ratified, the agreement will mean that nearly 75 percent of CSX's unionized workers will be under new agreements, demonstrating CSX's commitment to providing updated terms for its workforce.
- CSX's ongoing efforts in collective bargaining, particularly with various unions, reflects a proactive approach to workforce management and could enhance operational stability in the long term.
Potential Negatives
- CSX has yet to reach agreements with the remaining major workgroup, trainmen/conductors, which could lead to prolonged negotiations and potential labor disputes.
- The press release highlights that only 54% of CSX's unionized workforce has ratified agreements to date, indicating that a significant portion of employees remain without new contracts.
- The company may face scrutiny over its collective bargaining approach, as the release emphasizes the challenges and length of negotiations leading to the tentative agreement with BLET.
FAQ
What is the recent agreement between CSX and BLET about?
CSX has reached a tentative five-year agreement with the Brotherhood of Locomotive Engineers and Trainmen covering approximately 3,400 locomotive engineers.
How many locomotive engineers are affected by the CSX and BLET agreement?
Approximately 3,400 locomotive engineers are covered under the new tentative agreement between CSX and BLET.
What improvements does the CSX-BLET agreement offer?
The agreement offers competitive pay, improved health care, work rule changes for predictable assignments, and quality-of-life enhancements for locomotive engineers.
When was the CSX and BLET agreement reached?
The tentative agreement was announced on May 09, 2025, after months of negotiations between CSX and BLET.
What percentage of CSX's workforce is now covered by new agreements?
If ratified, nearly 75 percent of CSX's unionized workers will be covered by new agreements reached in the last nine months.
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 4 times in the past 6 months. Of those trades, 1 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 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.
- 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 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 637 institutional investors add shares of $CSX stock to their portfolio, and 873 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
- BLACKROCK, INC. removed 13,748,719 shares (-9.0%) from their portfolio in Q1 2025, for an estimated $404,624,800
- 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
- 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., May 09, 2025 (GLOBE NEWSWIRE) -- CSX Corporation (NASDAQ: CSX) today announced it has reached a tentative agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET) on a new five-year single-system agreement covering approximately 3,400 locomotive engineers.
This is the first agreement reached by a Class I freight railroad with BLET, and it continues CSX’s industry-leading transformational approach to collective bargaining in the rail industry.
“I want to thank the leaders at BLET, especially our CSX General Chairmen, for their hard work and professionalism in representing CSX employees and their union members,” said Joe Hinrichs, President and CEO of CSX. “The tentative agreement, reached after months of negotiations, offers competitive pay, improved health care for locomotive engineers, and work rule changes that promote predictable assignments and additional quality-of-life enhancements.”
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. If ratified, nearly 75 percent of CSX unionized workers will be covered by new agreements reached within the last nine months. To date, CSX has ratified agreements covering 54 percent of its unionized workforce.
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
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http://facebook.com/OfficialCSX
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http://twitter.com/CSX
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Contact:
Matthew Korn, CFA, Investor Relations
904-366-4515
Bryan Tucker, Corporate Communications
855-955-6397