Loading...
•
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...