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.
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GATX Corporation (NYSE:GATX) reported strong first-quarter results for 2023, with net income of $77.4 million or $2.16 per diluted share, compared to $75.8 million or $2.10 per diluted share in 2022. The results included a $1.3 million negative impact from tax adjustments. Demand for railcars remains robust, with fleet utilization at 99.3% and a renewal success rate of 77.9%. The Lease Price Index saw a positive change of 34.3%, up from 29.7% in the previous quarter. GATX's full-year earnings guidance is unchanged at $6.50–$6.90 per diluted share. The company also invested $387 million in the first quarter, acquiring over 1,000 railcars on long-term leases. Portfolio Management segment profit improved significantly, driven by better performance in affiliate earnings.
GATX Corporation (NYSE:GATX) is set to report its first-quarter 2023 financial results on April 25, 2023, before market opening. A conference call will follow at 11 a.m. ET for investors to discuss the results. Domestic and international dial-in numbers are provided for participation, along with a live webcast available at www.gatx.com. GATX has a long-standing history in leasing transportation assets globally and has maintained uninterrupted quarterly dividends since 1919, emphasizing its commitment to financial stability.
GATX Corporation (NYSE:GATX) will present at the Stifel 2023 Transportation & Logistics Conference on Tuesday, Feb. 7, 2023, at 3:00 p.m. ET. Thomas A. Ellman, executive vice president and CFO, will lead the presentation. Investors can listen to the live webcast at www.gatx.com starting 15 minutes before the presentation. The webcast will be archived for 90 days. GATX, headquartered in Chicago, has been leasing transportation assets since 1898 and has paid a quarterly dividend uninterrupted since 1919, emphasizing its commitment to customer service and sustainable transport solutions.
GATX Corporation (NYSE:GATX) has received a BBB+ Long-Term Issuer Default Rating (IDR) from Fitch Ratings with a stable outlook. The rating reflects GATX's strong market position in the railcar leasing sector, its diversified fleet, solid asset quality, and strong cash flow generation. Fitch highlighted the company's appropriate leverage and experienced management. CFO Thomas A. Ellman expressed satisfaction with the rating, emphasizing its recognition of GATX's long-standing strategy and robust financial performance.
The board of directors of GATX Corporation (NYSE:GATX) has declared a quarterly dividend of $0.55 per common share, payable on March 31, 2023, to shareholders on record as of March 3, 2023. This dividend indicates a 5.8% increase from the previous year's dividend, marking the company’s 105th consecutive year of dividend payments. Over the past decade, GATX has invested nearly $9.0 billion in its business while returning over $1.5 billion to shareholders via dividends and repurchases, showcasing a strong commitment to shareholder value amidst positive long-term outlook.
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