Gatx Corp Stock Price, News & Analysis

GATX Corporation reported its 2020 fourth-quarter and full-year financial results, revealing a net income of $17.8 million or $0.50 per diluted share for Q4, down from $42.1 million in Q4 2019. Full-year net income was $150.2 million or $4.24 per diluted share, a decrease from $180.8 million in 2019, influenced by a $12.3 million tax adjustment. Despite challenges in railcar leasing, fleet utilization remained high at 98.1%, and the company executed over $1.0 billion in investments, including acquiring Rolls-Royce aircraft spare engines. 2021 earnings are projected between $4.00 and $4.30 per diluted share.

GATX Corporation (NYSE:GATX) announced a rescheduling of its 2020 fourth quarter earnings release and conference call from January 26, 2021, to January 28, 2021, due to anticipated inclement weather. The earnings will be reported before market open on January 28, followed by a conference call at 11 a.m. Eastern Time. Investors can participate via phone or webcast at GATX's website.

GATX, headquartered in Chicago since 1898, is a leading global railcar lessor, committed to quality service.

GATX Corporation (NYSE:GATX) is set to announce its fourth-quarter 2020 results before market open on January 26, 2021. A conference call will take place at 11 a.m. ET on the same day for investors to review the results, with options to listen via telephone or online. Details for dialing in domestically and internationally are provided. GATX, a leading global railcar lessor based in Chicago, has been operational for over 121 years, emphasizing a commitment to quality service and corporate transparency through various investor communication channels.

GATX Corporation (NYSE:GATX) has announced its acquisition of Trifleet Leasing Holding B.V., the fourth largest global tank container lessor, for approximately €175 million in cash, finalized on Dec. 29, 2020. Trifleet, based in the Netherlands, manages over 18,000 tank containers serving diverse sectors including chemicals, energy, and pharmaceuticals. This acquisition aims to enhance GATX's railcar leasing business and leverage its global customer base, focusing on safety, quality, and environmental responsibility.

GATX Corporation's CEO, Brian A. Kenney, will participate in a virtual fireside chat at the Stephens Annual Investment Conference on Nov. 17, 2020, at 4 p.m. ET. Investors can access the live webcast via www.gatx.com, available 15 minutes prior to the event. The conference will be archived for 90 days for later viewing. GATX, a leader in railcar leasing for over 121 years, is headquartered in Chicago, Illinois, and consistently shares financial updates through various channels on its Investor Relations website.

GATX Corporation will participate in Baird’s 2020 Global Industrial Conference on November 12, 2020, with a presentation by Thomas A. Ellman, CFO. The presentation, scheduled for 2:45 PM Central Time, will provide insights into the company’s operations. Interested parties can access the live webcast on www.gatx.com and will find accompanying slides available beforehand. GATX, a leader in railcar leasing, has been operating since 1898, and emphasizes transparency by releasing material information through various channels on its website.

GATX Corporation (NYSE:GATX) has appointed Jennifer Van Aken as senior vice president, treasurer, and chief risk officer. Van Aken has been with GATX since 2006, holding various leadership roles in treasury, investor relations, and investment risk management. She brings extensive experience in finance, having previously worked in the financial services industry. Thomas A. Ellman, GATX's CFO, expressed confidence in her ability to enhance the company's treasury and risk management operations. Van Aken holds a Bachelor of Science in Mathematics and an MBA from Carnegie Mellon University.

GATX Corporation has declared a quarterly dividend of $0.48 per common share, scheduled for payment on December 31, 2020, to shareholders on record by December 15, 2020. This amount remains unchanged from the previous quarter. GATX, established in 1898, is recognized as a leading global railcar leasing company, delivering quality railcars and services for over 121 years. The company continues to focus on customer service and shareholder value.

GATX Corporation reported a third-quarter net income of $48.2 million, or $1.36 per diluted share, up from $37.2 million or $1.03 per diluted share in Q3 2019. However, total net income for the first nine months decreased to $132.4 million from $138.7 million year-over-year. Fleet utilization remained high at 98.2%. The company faced a negative impact of $12.3 million due to tax adjustments and a decline in lease revenue in Rail North America, down from $60.9 million in Q3 2019 to $56.1 million. Portfolio Management saw a significant gain of $24.0 million from aircraft spare engine transactions.