GATX Corporation - GATX STOCK NEWS

GATX (NYSE: GATX) has declared a quarterly dividend of $0.58 per common share, maintaining the same amount as the previous quarter. The dividend will be payable on Dec. 31, 2024, to shareholders of record on Dec. 13, 2024. GATX, a Chicago-based transportation asset leasing company established in 1898, has maintained an uninterrupted quarterly dividend payment since 1919. The company specializes in leasing railcars, aircraft spare engines, and tank containers to customers worldwide.

GATX reported 2024 third-quarter net income of $89.0 million, or $2.43 per diluted share, compared to $52.5 million, or $1.44 per diluted share, in Q3 2023. Key highlights include:

- Rail North America's fleet utilization remains above 99%
- Aircraft spare engine portfolio continues strong performance
- Investment volume was $504.5 million in Q3, totaling over $1.3 billion year-to-date
- Company updates 2024 full-year earnings guidance to $7.50 – 7.70 per diluted share

Rail North America's renewal lease rate change was positive 26.6% with an average renewal term of 59 months. Rail International performed well with GATX Rail Europe's fleet utilization at 95.9% and GATX Rail India at 100%. Engine Leasing reported strong results driven by excellent performance at Rolls-Royce and Partners Finance affiliates.

GATX (NYSE: GATX) has announced its schedule for the 2024 third-quarter earnings release and conference call. The company will report results prior to market open on Oct. 22, 2024, followed by a conference call later that morning. Investors can participate via telephone or webcast.

The live teleconference will be held at 11 a.m. Eastern Time. Domestic callers can dial 1-800-715-9871, while international callers should use 1-646-307-1963. A live webcast will be available on www.gatx.com. A replay will be accessible starting at 2 p.m. Eastern Time on the same day.

GATX , headquartered in Chicago since 1898, leases transportation assets including railcars, aircraft spare engines, and tank containers worldwide. The company has maintained an uninterrupted quarterly dividend since 1919.

GATX (NYSE: GATX), a global leader in transportation asset leasing, has appointed Christopher LaHurd as senior vice president, international. LaHurd will focus on developing and implementing strategic initiatives to capitalize on growth opportunities in the European rail market. He will work closely with Johann Feindert, CEO of GATX Rail Europe, to drive momentum in their European railcar leasing and maintenance platform, which has a fleet approaching 30,000 wagons.

LaHurd, who joined GATX in 2008, has served in various finance and business development roles, most recently as vice president of international business development. This appointment aligns with GATX's mission to provide innovative, unparalleled service in transporting goods safely and sustainably while supporting employee and community well-being.

GATX (NYSE: GATX) has announced its quarterly dividend of $0.58 per common share, payable on September 30, 2024, to shareholders of record on September 13, 2024. This dividend remains unchanged from the previous quarter. GATX, founded in 1898 and headquartered in Chicago, has maintained an uninterrupted quarterly dividend since 1919.

The company specializes in leasing transportation assets, including railcars, aircraft spare engines, and tank containers to customers worldwide. GATX's mission focuses on providing innovative and unparalleled service, enabling safe and sustainable transportation while supporting employee and community well-being.

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.