GATX Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 24, 2023 at 08:30 am EDT
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GATX Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 317.2 million compared to USD 292.4 million a year ago. Revenue was USD 360.1 million compared to USD 321 million a year ago. Net income was USD 52.5 million compared to USD 29.1 million a year ago. Basic earnings per share from continuing operations was USD 1.44 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 1.44 compared to USD 0.81 a year ago.
For the nine months, sales was USD 927.8 million compared to USD 860.6 million a year ago. Revenue was USD 1,042.2 million compared to USD 950.3 million a year ago. Net income was USD 193.2 million compared to USD 107.5 million a year ago. Basic earnings per share from continuing operations was USD 5.32 compared to USD 3.04 a year ago. Diluted earnings per share from continuing operations was USD 5.3 compared to USD 2.99 a year ago.
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and India. The Company's segments include Rail North America, Rail International, Portfolio Management and Other. Rail North America segment primarily provides railcars pursuant to full-service leases under which it maintains the railcars, pays ad valorem taxes and provides other ancillary services. Rail International segment is composed of its operations in Europe (GATX Rail Europe or GRE), India (Rail India). GRE leases railcars to customers throughout Europe pursuant to full-service leases under which it maintains the railcars and provides value-added services according to customer requirements. Portfolio Management segment is composed primarily of the Rolls-Royce & Partners Finance joint ventures that lease aircraft spare engines and GATX Engine Leasing (GEL), its wholly owned aircraft spare engine leasing business. Other segment includes its Trifleet business that owns and manages tank containers.
GATX CORPORATION 
