Welcome to our dedicated page for Gatx news (Ticker: GATX), a resource for investors and traders seeking the latest updates and insights on Gatx stock.
GATX Corporation (NYSE: GATX) generates a steady stream of news related to its role in transportation asset leasing, particularly in railcar and aircraft spare engine leasing. The company’s press releases and SEC filings highlight developments across its Rail North America, Rail International and Engine Leasing segments, as well as its capital markets and joint venture activities.
On this news page, readers can follow GATX stock news tied to quarterly earnings releases, where the company reports segment profit, fleet utilization, renewal lease rate changes and investment volume for its global rail and engine portfolios. These updates often include commentary on demand for railcars in North America, Europe and India, and on the performance of aircraft spare engine leasing affiliates such as Rolls-Royce and Partners Finance.
GATX also issues news about strategic transactions. Recent examples include the joint venture with Brookfield Infrastructure to acquire Wells Fargo’s rail operating lease portfolio, and an agreement for GATX Rail Europe to acquire approximately 6,000 railcars from DB Cargo AG through a sale-leaseback transaction. Such announcements provide insight into how GATX expands and diversifies its global railcar portfolio.
Investors will also find updates on dividend declarations, investor conference presentations, and regulatory milestones related to large acquisitions, such as antitrust clearances and closing conditions. Together, these items offer a view into GATX’s operating trends, capital deployment, financing decisions and shareholder return policies.
By monitoring this page, users can track the latest GATX news, from earnings and fleet metrics to joint ventures and financing transactions, all in one place.
GATX reported 2024 second-quarter net income of $44.4 million, or $1.21 per diluted share, compared to $63.3 million, or $1.74 per diluted share, in Q2 2023. The company reiterated its 2024 full-year earnings guidance of $7.30–$7.70 per diluted share. Key highlights include:
- Rail North America's fleet utilization remained high at 99.3%
- Renewal lease rate change was positive 29.4% with an average renewal term of 61 months
- Investment volume was $442.0 million in Q2 and $820.6 million year-to-date
- Rail International's fleet utilization was 95.8% for GATX Rail Europe and 100% for Rail India
- Engine Leasing performed well with strong demand for aircraft spare engines
GATX (NYSE: GATX) will announce its 2024 second-quarter earnings on July 23, 2024, before the market opens. A conference call to discuss the results will follow at 11 a.m. Eastern Time. Investors can access the call via telephone or through a live webcast on the company's website. Replay options will be available starting at 2 p.m. the same day. GATX leases transportation assets, including railcars and aircraft spare engines, and has a long-standing history of consistent dividend payments since 1919.
GATX 's CFO, Thomas A. Ellman, will present at the 2024 Wells Fargo Industrials Conference on June 11, 2024, at 3:00 p.m. CT. The live webcast of the presentation can be accessed via the company's website, and it will be archived for 90 days. GATX specializes in leasing transportation assets like railcars, aircraft spare engines, and tank containers globally. Headquartered in Chicago since 1898, GATX has consistently paid quarterly dividends since 1919.
GATX (NYSE: GATX) has announced a transition in its leadership team at Rail North America. Wesley J. Lujan will take on the role of vice president of government and industry affairs, succeeding Terrence G. Heidkamp, who will retire at the end of 2024. Lujan joins GATX from Union Pacific, where he served in various roles over 17 years, most recently as assistant vice president of external relations. The transition will involve a six-month overlap between Heidkamp and Lujan to ensure a smooth handover. Lujan holds degrees from California State University at Chico and the University of Southern California and will be based in Washington, DC. GATX has a long history of leasing transportation assets and has maintained consistent dividend payments since 1919.
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