Gatx Corp Stock Price, News & Analysis

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.

GATX Corporation (NYSE:GATX) is set to release its third-quarter results for 2020 on Oct. 20, prior to market opening. A conference call will be held at 11 a.m. ET the same day for investors to discuss the results, available through both telephone and webcast. Interested parties can access the call by dialing in or visiting GATX's website. A replay of the call will be accessible starting at 2 p.m. ET on the same day. GATX has been a leader in railcar leasing for over 121 years, headquartered in Chicago.

On September 8, 2020, GATX announced that Robert C. Lyons will present at the Cowen 2020 Global Transportation and Sustainable Mobility Virtual Conference on September 9, 2020. The presentation will provide an overview of GATX’s operations, starting at 10:40 a.m. Eastern Time. Interested parties can access the live webcast via GATX’s website, with an archive available for 90 days post-event. GATX, a leading global railcar lessor, has been in operation for over 121 years and is headquartered in Chicago.

On July 31, 2020, GATX Corporation declared a quarterly dividend of $0.48 per common share, set for payment on September 30, 2020, to shareholders on record as of September 15, 2020. This dividend remains unchanged from the previous quarter, reflecting the company's stable payout policy. GATX, headquartered in Chicago since 1898, is committed to being a top railcar leasing provider, serving clients with quality services for over 121 years.

GATX Corporation reported a net income of $37.0 million or $1.05 per diluted share for Q2 2020, down from $60.3 million or $1.65 per diluted share in Q2 2019. Revenue pressures are evident, with a notable decline in lease renewal rates, which changed negatively by 28%. Despite high fleet utilization rates at 98.7%, the company is facing significant challenges due to COVID-19, leading to a lack of guidance for 2020. The sale of American Steamship Company for $260 million has been recognized as a discontinued operation.

GATX Corporation (NYSE: GATX) will announce its second-quarter 2020 results on July 21, 2020, before the market opens. A conference call to discuss these results will be held at 11 a.m. Eastern Time that same day, accessible via phone and webcast. Investors are encouraged to join the call 15 minutes early. Replay information will also be available on their website after 2 p.m. Eastern Time on the same day. GATX, a leading railcar leasing company, has been serving customers for over 121 years, with headquarters in Chicago, Illinois.

On May 14, 2020, GATX Corporation (NYSE:GATX) announced the completion of the sale of its American Steamship Company (ASC) to Rand Logistics, LLC for approximately $260 million in cash. This sale finalizes the previously announced transaction from February 10, 2020. GATX plans to utilize the net proceeds to repay debts under its $250 million revolving credit facility, enhancing its financial stability.