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Jun 30, 2020
GATX Q2 2020 Earnings Report
GATX reported a net income of $37.0 million, or $1.05 per diluted share, for the second quarter of 2020, which was negatively impacted by COVID-19, but Rail North America maintained high fleet utilization.
Key Takeaways
GATX Corporation reported a decrease in net income from continuing operations for the second quarter of 2020, with earnings per diluted share at $1.05 compared to $1.65 in the same quarter of 2019. The results were impacted by COVID-19, but Rail North America maintained a high fleet utilization of 98.7%.
Second quarter net income from continuing operations was $37.0 million, or $1.05 per diluted share.
Rail North America's fleet utilization remained high at 98.7%.
The renewal lease rate change of GATX’s Lease Price Index was negative 28.0%.
GATX Rail Europe’s fleet utilization remains strong at 98.4%.
Revenue by Segment
Forward Guidance
Looking ahead, GATX expects pressure on lease rates, renewal activity, and asset utilization across its business segments as impacts from the COVID-19 pandemic continues, and the company is not reinstituting guidance for 2020 at this time due to the uncertain global outlook.
Challenges Ahead
- Pressure on lease rates is expected.
- Renewal activity is expected to be impacted.
- Asset utilization is expected to be impacted.
- Impacts from the COVID-19 pandemic are expected to continue.
- There is a highly uncertain global outlook.
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
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