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CSX Announces Ratification of Labor Deal with Locomotive Engineers

1. CSX's engineers ratified a five-year collective bargaining agreement. 2. This is the first Class I railroad agreement with BLET. 3. The deal includes wage and welfare improvements for locomotive engineers. 4. 75% of CSX's unionized workers are now under new agreements. 5. CSX is negotiating with remaining workers for a unified agreement.

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FAQ

Why Bullish?

The ratified agreement suggests stability and improved labor relations, historically leading to positive stock performance for CSX.

How important is it?

The agreement improves relations with a significant workforce segment, crucial for operational efficiency at CSX.

Why Short Term?

Immediate benefits can be expected from increased labor satisfaction and productivity, impacting stock in the near term.

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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 Relations904-366-4515 Bryan Tucker, Corporate Communications 855-955-6397 

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