Gatx Corp Stock Price, News & Analysis

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.

GATX Corporation (NYSE: GATX) reported fourth-quarter 2022 net income of $48.4 million or $1.36 per diluted share, down from $61.0 million or $1.69 per diluted share in Q4 2021. For the full year, net income rose to $155.9 million or $4.35 per diluted share, compared to $143.1 million or $3.98 in 2021. Rail North America saw a segment profit increase to $83.5 million, driven by higher lease revenues and a fleet utilization exceeding 99%. The company has set a 2023 earnings guidance of $6.50–$6.90 per diluted share, highlighting an optimistic outlook despite economic uncertainties. Overall investment volume for 2022 surpassed $1.2 billion, reflecting GATX's strategic growth initiatives.

GATX Corporation (NYSE:GATX) will report its 2022 fourth quarter results on January 24, 2023, before the market opens. A conference call to discuss the results will follow at 11 a.m. ET the same day. Interested parties can listen via telephone or through an online webcast. This announcement highlights GATX's ongoing commitment to transparency and communication with investors. Established in 1898 and based in Chicago, GATX has a long history of providing transportation asset leasing services, maintaining its uninterrupted quarterly dividend since 1919.