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GATX
🇺🇸 NYSE:GATX
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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.

Total Revenue
$343M
Previous year: $313M
+9.8%
EPS
$1.73
Previous year: $1.07
+61.7%
Boxcar Fleet Size
8.96K
Previous year: 10.3K
-13.0%
Boxcar Utilization Rate
99.8%
Previous year: 99.4%
+0.4%
Avg Active Boxcars
8.86K
Gross Profit
$157M
Previous year: $139M
+13.2%
Cash and Equivalents
$318M
Previous year: $180M
+76.1%
Total Assets
$10.6B
Previous year: $9.52B
+11.2%

GATX

GATX

GATX 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

Company Overview

Full financial data and analysis

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