Yahoo Finance CSX Inks Provisional Paid-Sick-Leave Deal With SMART-TD B&O
CSX Corporation CSX announced that it entered an unsettled agreement with the Sheet Metal, Air, Rail and Transportation Workers-Transportation Division B&O (SMART-TD B&O) union. This deal aims at offering paid-sick-leave benefits to its trainmen and conductors.
Post materialization by SMART-TD B&O members, the agreement will increase the number of CSX operating employees with paid-sick-leave benefits to more than 10,000, or 60% of the company’s union-represented workforce. Agreement terms call for five days of paid sick leave annually plus an opportunity to convert two days from personal leave to sick leave.
CSX’s president and chief executive officer, Joe Hinrichs, stated, “I want to thank the SMART-TD B&O leadership for working with us to reach this important agreement for their members and adding to the progress we’re making together to improve the work experience for front-line employees who create value for our customers.”
Apart from SMART-TD B&O, unions that have negotiated paid sick leave for their members are the International Brotherhood of Electrical Workers, Brotherhood of Maintenance of Way, which represents track workers, the Brotherhood of Railway Carmen, representing mechanical employees, the International Association of Machinists and Aerospace Workers, representing railroad machinists, and the National Conference of Firemen and Oilers, an association of CSX’s utility workers.
Such deals reflect CSX’s employee-friendly attitude through which it tries to maintain cordial relations with its employees and unions representing them, thereby providing a healthy work atmosphere at CSX.
Zacks Rank & Key Picks
CSX currently carries a Zacks Rank # 3 (Hold).
Some better-ranked stocks in the Zacks Transportation sector are Copa Holdings CPA and GATX Corporation GATX.
Copa Holdings currently sports a Zacks Rank #1 (Strong Buy). CPA's focus on its cargo segment is encouraging. In fourth-quarter 2022, cargo and mail revenues jumped 69% to $27.09 million, owing to higher cargo volumes and yields. You can see the complete list of today’s Zacks #1 Rank stocks here.
For first-quarter and 2023, CPA’s earnings are expected to register 302.9% and 40.6% growth, respectively, on a year-over-year basis.
GATX Corp carries a Zacks Rank #2 (Buy) at present. The gradual improvement in the North America railcar leasing market is a huge positive for GATX. Management expects recovery in the North America railcar leasing market to continue in 2023.
For 2023, GATX’s earnings are expected to register 10.5% growth on a year-over-year basis.
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