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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.
GATX
GATX
GATX Revenue by Segment
Revenue by Segment
Rail North America Revenue
CapyFin.comRail International Revenue
CapyFin.comOther Revenue
CapyFin.com 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.
- Potential risks from factors detailed in the company's SEC filings.