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Canadian Pacific (CP) Reaches Agreement to End Work Stoppage
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In a highly positive development over the labor dispute at Canadian Pacific (CP - Free Report) , the railroad operator has agreed with the Teamsters Canada Rail Conference (TCRC) — Train and Engine Negotiating Committee — to enter into a binding arbitration. By reaching this agreement, the work stoppage at CP came to an end. TCRC represents about 3,000 locomotive engineers, conductors as well as train and yard workers across Canada.
Expressing delight at this development, Keith Creel, president and CEO, Canadian Pacific stated: "This agreement enables us to return to work effective noon Tuesday local time to resume our essential services for our customers and the North American supply chain."
We remind investors that the strike at Canadian Pacific had begun after the company and the union failed to reach a consensus by the deadline of 12:01 a.m. on Mar 20. Negotiations between the two parties on a new pay-related contract had been underway since September 2021. They were settling issues like workers’ wages, pensions and working conditions.
The work stoppage further worsened the already strained supply chain at Canada. The strike disrupted shipments of key items like grains and fertilizer. However, the agreement brings a huge relief and enables CP to resume normal train operations across Canada as soon as possible.
Watch this space for further updates on this burning issue.
Expeditors with an earnings surprise of 34.2%, on average, surpassed the Zacks Consensus Estimate in all the last four quarters. EXPD is being aided by the uptick in airfreight revenues.
We are optimistic about EXPD’s buyout of Fleet Logistics’ Digital Platform. The acquisition already boosted Expeditors’ online LTL shipping platform, Koho. The move is in line with its focus on Digital Solutions. EXPD currently sports a Zacks Rank #1 (Strong Buy).
The long-term expected EPS (three to five years) growth rate for Old Dominion is currently pegged at 16.8%. ODFL is benefiting from the strong performance of the LTL segment owing to improved freight conditions. In 2021, revenues from the LTL services segment increased 30.7% on a year-over-year basis.
Driven by the tailwinds, the Old Dominion stock has increased 38% in the past year. ODFL currently carries a Zacks Rank #2 (Buy).
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Canadian Pacific (CP) Reaches Agreement to End Work Stoppage
In a highly positive development over the labor dispute at Canadian Pacific (CP - Free Report) , the railroad operator has agreed with the Teamsters Canada Rail Conference (TCRC) — Train and Engine Negotiating Committee — to enter into a binding arbitration. By reaching this agreement, the work stoppage at CP came to an end. TCRC represents about 3,000 locomotive engineers, conductors as well as train and yard workers across Canada.
Expressing delight at this development, Keith Creel, president and CEO, Canadian Pacific stated: "This agreement enables us to return to work effective noon Tuesday local time to resume our essential services for our customers and the North American supply chain."
We remind investors that the strike at Canadian Pacific had begun after the company and the union failed to reach a consensus by the deadline of 12:01 a.m. on Mar 20. Negotiations between the two parties on a new pay-related contract had been underway since September 2021. They were settling issues like workers’ wages, pensions and working conditions.
The work stoppage further worsened the already strained supply chain at Canada. The strike disrupted shipments of key items like grains and fertilizer. However, the agreement brings a huge relief and enables CP to resume normal train operations across Canada as soon as possible.
Watch this space for further updates on this burning issue.
Zacks Rank & Key Picks
Canadian Pacific currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Zacks Transportation sector are Expeditors International of Washington ((EXPD - Free Report) ) and Old Dominion Freight Line ((ODFL - Free Report) ). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expeditors with an earnings surprise of 34.2%, on average, surpassed the Zacks Consensus Estimate in all the last four quarters. EXPD is being aided by the uptick in airfreight revenues.
We are optimistic about EXPD’s buyout of Fleet Logistics’ Digital Platform. The acquisition already boosted Expeditors’ online LTL shipping platform, Koho. The move is in line with its focus on Digital Solutions. EXPD currently sports a Zacks Rank #1 (Strong Buy).
The long-term expected EPS (three to five years) growth rate for Old Dominion is currently pegged at 16.8%. ODFL is benefiting from the strong performance of the LTL segment owing to improved freight conditions. In 2021, revenues from the LTL services segment increased 30.7% on a year-over-year basis.
Driven by the tailwinds, the Old Dominion stock has increased 38% in the past year. ODFL currently carries a Zacks Rank #2 (Buy).