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He added, "Votes of union workers in the United States against tentative agreements tend to reflect the white-hot anger of union employees against their employers. Tentative agreements are their only chance for them to express their frustration with their employer and their anger at the way they have been treated." A BNSF spokesperson said it is planning to attend the formal national labor negotiations even as it has announced nine tentative union agreements, five of which have already been ratified. It also has tentative agreements with the International Brotherhood of Electrical Workers (IBEW), SMART-TD, SMART-TD-YDM (Yardmasters Department), the International Brotherhood of Boilermakers, and Iron Ship Builders (IBB). To date, Norfolk Southern has reached tentative agreements with 10 of its 13 unions, covering approximately 67% of its craft workforce.
Persons: Berkshire Hathaway, Jeremy Ferguson, Ferguson, Joe Biden, Richard Edelman, Mooney, Green, Murphy, Welch, Daniel Imbro, Stephen, Brotherhood of Railway Carmen, we've, Mark George, Imbro, it's Organizations: Union Pacific, CSX, BNSF, Canadian Pacific, Canadian Pacific Kansas City —, SMART, Railway Labor, National Carriers ' Conference Committee, Railroads, NSC, National Conference of Firemen, Oilers, Tran, Transportation Communications Union, TCU, Brotherhood of Railway, International Brotherhood of Electrical Workers, Yardmasters Department, International Brotherhood of Boilermakers, Iron Ship Builders, Norfolk, Norfolk Southern, National Carriers ' Locations: Southern, Berkshire, Canadian Pacific Kansas, United States, Norfolk Southern, Norfolk
Auction services firm Copart tops Q1 estimates
  + stars: | 2023-11-16 | by ( ) www.reuters.com   time to read: +1 min
Nov 16 (Reuters) - Online vehicle auction services provider Copart (CPRT.O) beat market expectations for first-quarter revenue and profit on Thursday, helped by higher revenue from its services business. The Texas-based company provides virtual bidding services to customers across Americas, Europe, the UK and the Middle East. "Copart continues to grow its service business nicely, supported by underlying insurance industry growth and revenue growth," Stephens analyst Daniel Imbro said. The company posted quarterly revenue of $1.02 billion, compared with analysts' average estimate of $990.7 million, according to LSEG data. It reported profit of 34 cents per share, versus analysts' expectations of 33 cents per share.
Persons: Copart, Stephens, Daniel Imbro, Abhinav Parmar, Shilpi Majumdar Organizations: Revenue, Thomson Locations: The Texas, Americas, Europe, Bengaluru
Carvana provides upbeat second-quarter outlook, shares jump
  + stars: | 2023-06-08 | by ( ) www.reuters.com   time to read: +1 min
Companies Carvana Co FollowJune 8 (Reuters) - Used-cars retailer Carvana Co on Thursday forecast a second-quarter core profit above $50 million as its cost-cutting initiatives helped drive down expenses, sending the company's shares 20% higher in premarket trade. The debt-laden company has been trimming its bloated inventory and slashing advertising expenses to help move closer to profitability and attain positive free cash flow. Carvana, known for its car-vending machines, said it sold or securitized loans worth about $2 billion, compared with $1.3 billion in loans that were sold or securitized as of May 4. The Tempe, Arizona-based company said in May it expected to post a profit in the second quarter, but had not provided any further details. Reporting by Nathan Gomes in Bengaluru; Editing by Devika Syamnath and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Stephens, Daniel Imbro, Carvana, William Blair, Nathan Gomes, Devika Syamnath, Shounak Organizations: Carvana, Thomson Locations: Tempe , Arizona, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAuto dealers are growing profits as low vehicle supply has customers paying sticker-priceDaniel Imbro, managing director at Stephens, joins 'Power Lunch' to discuss limited inventory on the new car front, increasing per unit probability for auto dealers, and the supply chain issues contributing to high valuation for used car sales.
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