Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
GATX Corp (GATX)
NYSE:GATX
Holding GATX?
Track your performance easily
Earnings Data
Report Date
Jan 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.78Last Year’s EPS
$1.74Same Quarter Last Year
Based on 2 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 18.35%
|Next Earnings Date:Jan 28, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth in net income, high fleet utilization, and strong performance across Rail North America, Rail International, and Engine Leasing segments. The company also updated its full-year earnings guidance positively. However, there were minor impacts from tax adjustments and a modest outlook for remarketing activity in the fourth quarter.Company Guidance
During the GATX Corporation's third-quarter 2024 earnings call, the company provided updated guidance for the full year, projecting earnings per diluted share to range between $7.50 and $7.70, excluding impacts from tax adjustments and other items. This adjustment reflects the company's robust performance, particularly in Rail North America, where fleet utilization reached 99.3% and remarketing income for the year hit $96 million. Additionally, Rail International investment volumes exceeded $190 million year-to-date, and the engine leasing joint venture with Rolls-Royce reported a year-to-date investment volume of approximately $500 million. The company attributed the increase in the low-end guidance primarily to stronger-than-expected remarketing gains in Rail North America, while other segments remained on track with initial forecasts.Significant Increase in Net Income
GATX reported a third quarter net income of $89 million or $2.43 per diluted share, compared to $52.5 million or $1.44 per diluted share in the third quarter of 2023.
Strong Fleet Utilization and Lease Renewal Success
Rail North America reported a fleet utilization of 99.3% and a high renewal success rate of 82% for the quarter.
Positive Lease Rate Environment
The renewal rate change of GATX's lease price index was positive 26.6% for the quarter, with high absolute lease rates for many car types.
Robust Secondary Market for Railcars
Rail North America's remarketing income was over $43 million for the quarter, bringing the year-to-date total to $96 million.
Growth in Rail International Segment
GATX Rail Europe and GATX Rail India added nearly 900 new cars during the third quarter, with a year-to-date investment volume of over $190 million.
Strong Performance in Engine Leasing
The RRPF joint venture with Rolls-Royce showed a year-to-date investment volume of approximately $500 million, and GATX added 4 aircraft spare engines for approximately $95 million during the quarter.
Updated Full-Year Earnings Guidance
GATX updated its 2024 full-year earnings guidance to a range of $7.50 to $7.70 per diluted share, excluding impacts from Tax Adjustments and Other Items.
---
GATX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
GATX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $130.56 | $139.37 | +6.75% |
| Jul 23, 2024 | $144.21 | $133.18 | -7.65% |
| Apr 23, 2024 | $128.38 | $124.58 | -2.96% |
| Jan 23, 2024 | $116.65 | $123.53 | +5.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does GATX Corp (GATX) report earnings?
GATX Corp (GATX) is schdueled to report earning on Jan 28, 2025, TBA Not Confirmed.
What is GATX Corp (GATX) earnings time?
GATX Corp (GATX) earnings time is at Jan 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GATX EPS forecast?
GATX EPS forecast for the fiscal quarter 2024 (Q4) is $1.78.
---