Loading...
•
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...