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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%.
GATX
GATX
GATX Revenue by Segment
Revenue by Segment
Rail North America Revenue
CapyFin.comRail International Revenue
CapyFin.comEngine Leasing Revenue
CapyFin.com 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