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Jun 30, 2023
GATX Q2 2023 Earnings Report
GATX reported net income of $63.3 million, with Rail North America's fleet utilization remaining high and the company expecting to be at the upper end of or modestly exceed the previously announced 2023 full-year earnings guidance range.
Key Takeaways
GATX Corporation reported a strong second quarter with net income of $63.3 million, or $1.74 per diluted share. Rail North America's fleet utilization remained high at 99.3%, and the company anticipates full-year earnings to be at the upper end of or modestly exceed the previously announced guidance.
Rail North America’s fleet utilization remained high at 99.3%.
Investment volume was $486.6 million in the second quarter and totaled $873.6 million year to date.
GATX's second-quarter direct investment of aircraft spare engines totaled $239 million.
Company expects to be at the upper end of or modestly exceed the previously announced 2023 full-year earnings guidance range.
Revenue by Segment
Forward Guidance
GATX expects its 2023 full-year earnings to be at the upper end of or modestly exceed its previously announced guidance range of $6.50–$6.90 per diluted share, with variability around this guidance driven primarily by the timing of remarketing events. This guidance excludes any impact from 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
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