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GATX
🇺🇸 NYSE:GATX
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•
Sep 30, 2023

GATX Q3 2023 Earnings Report

GATX's Q3 2023 performance was marked by solid results across its segments. Rail North America maintained high fleet utilization and positive lease rate changes. Rail International benefited from an increase in railcars on lease, while Portfolio Management saw improved earnings from Rolls-Royce and Partners Finance affiliates due to strengthened international air passenger travel.

Key Takeaways

GATX Corporation reported a net income of $52.5 million, or $1.44 per diluted share, for the third quarter of 2023, compared to $29.1 million, or $0.81 per diluted share, in the third quarter of 2022. The company expects to modestly exceed the high end of the previously announced 2023 full-year earnings guidance range.

GATX expects to modestly exceed the high end of the previously announced 2023 full-year earnings guidance range.

Rail North America's fleet utilization remained high at 99.3%, with the Lease Price Index (LPI) at positive 33.4%.

Rail International produced solid operating results and added over 1,400 newly built railcars to its fleets in Europe and India.

Portfolio Management's results were driven by strong performance at the Rolls-Royce and Partners Finance affiliates, as demand for international air passenger travel continued to strengthen.

Total Revenue
$360M
Previous year: $321M
+12.2%
EPS
$1.44
Previous year: $1.12
+28.6%
Rail NA Boxcar Fleet
9.09K
Previous year: 10.22K
-11.1%
Rail NA Boxcar Utilization
99.7%
Previous year: 100%
-0.3%
Rail NA Avg Active Railcars
8.99K
Previous year: 10.27K
-12.5%
Gross Profit
$166M
Previous year: $144M
+15.4%
Cash and Equivalents
$203M
Previous year: $596M
-65.9%
Total Assets
$10.6B
Previous year: $9.88B
+7.8%

GATX

GATX

GATX Revenue by Segment

Forward Guidance

GATX expects its 2023 full-year earnings to modestly exceed the high end of its previously announced guidance range of $6.50–$6.90 per diluted share, excluding 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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