Canadian National (CNI), Unifor Sign Tentative Collective Deals

Canadian National Railway Company CNI announced that it has entered into new tentative collective deals with Unifor. These collective agreements represent nearly 3,000 Canadian National employees who are engaged in multiple departments such as mechanical, intermodal, facility management and clerical positions in Canada.

Further details of the tentative deals will be unveiled once the deal becomes official.

Tracy Robinson, president and chief executive officer of Canadian National stated, “We are very pleased to have reached these tentative agreements.  CN has always been committed to achieving negotiated settlements to improve the conditions of this important group of employees as we continue our essential work moving the North American economy. We look forward to future collaboration with Unifor.”

Over the past six months, shares of Canadian National have gained 1.4% against the 2.1% loss of the industry it belongs to.

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Notably, companies in the Zacks Transportation – Rail industry are entering into collective deals with the unions. To name one, Canadian Pacific Railway Limited CP recently announced that it had inked a tentative collective agreement with the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED). TCRC-MWED covers almost 2,600 engineering services employees in Canada.

Canadian Pacific has a track record of successfully dealing with multiple unions representing craft employees. In the last few months, Canadian Pacific has inked 16 agreements in 2023 in Canada and the United States.

Zacks Rank & Stocks to Consider

Currently, Canadian National carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader Zacks Transportation sector are Alaska Air Group, Inc. ALK and American Airlines AAL, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Alaska Air has an expected earnings growth rate of 32.64% for the current year. ALK delivered a trailing four-quarter earnings surprise of 8.98%, on average.

The Zacks Consensus Estimate for ALK’s current-year earnings has improved 11.4% over the past 90 days.

AAL has an expected earnings growth rate of more than 100% for the current year. AAL delivered a trailing four-quarter earnings surprise of 7.79%, on average.

The Zacks Consensus Estimate for AAL’s current-year earnings has improved 31.1% over the past 90 days. Shares of AAL have gained 11.2% over the past three months.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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