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Dec 31, 2024
GATX Q4 2024 Earnings Report
GATX reported Q4 2024 results with net income of $76.5 million and Rail North America's fleet utilization remained above 99%.
Key Takeaways
GATX Corporation reported a net income of $76.5 million, or $2.10 per diluted share, for the fourth quarter of 2024, compared to $66.0 million, or $1.81 per diluted share, for the same period in 2023. The company's Rail North America fleet utilization remained above 99%, and the Lease Price Index (LPI) was at 26.7%.
Fourth-quarter 2024 net income was $76.5 million or $2.10 per diluted share.
Rail North America’s fleet utilization remained above 99%.
Lease Price Index (LPI) at 26.7% in Rail North America.
Company initiates 2025 earnings guidance of $8.30–$8.70 per diluted share.
Revenue by Segment
Forward Guidance
GATX expects 2025 earnings to be in the range of $8.30–$8.70 per diluted share.
Positive Outlook
- Stable railcar leasing market expected in North America.
- Higher lease revenue anticipated as expiring leases are renewed at higher rates.
- Rail International expects higher segment profit driven by more railcars on lease at higher lease rates.
- Engine Leasing expects strong results from RRPF and wholly owned portfolio due to increased air travel demand.
- Disciplined investments expected to drive earnings growth at GATX in 2025 and beyond.
Challenges Ahead
- Net maintenance expense likely to be higher due to elevated tank car qualification work.
- Higher interest expense anticipated.
- Modestly lower asset remarketing income expected.
- Rail North America's 2025 segment profit is only expected to be up slightly from 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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