GATX Q2 2021 Earnings Report
Key Takeaways
GATX Corporation reported a net income of $5.5 million, or $0.15 per diluted share, for the second quarter of 2021. The results include a $39.7 million negative impact from a UK tax rate increase. The company increased its full-year earnings guidance to $4.30-$4.50 per diluted share.
GATX's fleet utilization increased to 98.5% at quarter end, and the renewal success rate was 77.5%.
Absolute lease rates across the majority of the fleet increased for the fourth consecutive quarter.
Rail International performed well, with high fleet utilization at GATX Rail Europe (98.4%).
Full-year earnings estimate increased to $4.30 to $4.50 per diluted share.
GATX
GATX
GATX Revenue by Segment
Forward Guidance
GATX increased its 2021 full-year earnings estimate to $4.30 to $4.50 per diluted share, from a previous guidance of $4.00 to $4.30 per diluted share. This guidance excludes any impact from Tax Adjustments and Other Items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income