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GATX
🇺🇸 NYSE:GATX
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OverviewEarningsDividends
•
Mar 31, 2023

GATX Q1 2023 Earnings Report

GATX's Q1 2023 net income increased slightly, driven by strong demand for railcars and improved performance in Portfolio Management, while Rail North America faced lower gains on asset dispositions.

Key Takeaways

GATX Corporation reported a net income of $77.4 million, or $2.16 per diluted share, for the first quarter of 2023, compared to $75.8 million, or $2.10 per diluted share, in the first quarter of 2022. Demand for railcars remains strong across all regions. The company reiterated its 2023 full-year earnings guidance of $6.50–$6.90 per diluted share, excluding the impact of Tax Adjustments and Other Items.

Demand for railcars remained strong across all regions.

Rail North America's fleet utilization remained high at 99.3%.

Rail Europe experienced higher renewal lease rates versus expiring rates for most car types.

Portfolio Management results were driven by improved performance at Rolls-Royce and Partners Finance affiliates.

Total Revenue
$339M
Previous year: $317M
+7.0%
EPS
$2.2
Previous year: $2.34
-6.0%
Rail NA Boxcar Fleet
8.79K
Previous year: 10.28K
-14.5%
Rail NA Boxcar Utilization
100%
Previous year: 99.3%
+0.7%
Rail NA Avg Active Railcars
100.55K
Previous year: 100.25K
+0.3%
Gross Profit
$154M
Previous year: $139M
+10.8%
Cash and Equivalents
$177M
Previous year: $649M
-72.7%
Total Assets
$10B
Previous year: $9.91B
+1.4%

GATX

GATX

GATX Revenue by Segment

Forward Guidance

GATX reiterated its 2023 full-year earnings estimate remains unchanged at $6.50–$6.90 per diluted share, excluding the impact of Tax Adjustments and Other Items.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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