GATX Corporation - GATX STOCK NEWS

GATX Corporation (NYSE:GATX) will present at the Stephens Annual Investment Conference on Wednesday, Nov. 16, 2022, starting at 10:00 a.m. ET. Thomas A. Ellman, executive vice president and CFO, will lead the presentation. Participants can access a live webcast on www.gatx.com, with the recording available for 90 days. Founded in 1898 and headquartered in Chicago, GATX specializes in leasing transportation assets globally, including railcars and aircraft spare engines, and has paid uninterrupted dividends since 1919.

GATX Corporation (NYSE:GATX) has appointed James B. Ream as the independent chair of its board of directors, effective immediately. Ream succeeds Brian A. Kenney, who retired as president and CEO in April 2022. Ream, previously the independent lead director for five years, brings over 40 years of transportation industry experience. The leadership change aims to strengthen GATX's strategic focus and long-term returns for stakeholders. Kenney's leadership has positioned GATX as a leader in full-service leasing of long-lived assets.

The board of directors of GATX Corporation (NYSE:GATX) has declared a quarterly dividend of $0.52 per common share, set to be paid on December 31, 2022. Shareholders of record will be those on December 15, 2022. This dividend remains consistent with the previous quarter's amount. GATX has a long-standing history of uninterrupted quarterly dividend payments since 1919, underlining its commitment to shareholder returns.

GATX Corporation (NYSE:GATX) reported third-quarter 2022 net income of $29.1 million, or $0.81 per diluted share, down from $40.1 million or $1.11 per diluted share in Q3 2021. The results include a $10.8 million impairment charge from exiting the rail business in Russia. Year-to-date net income reached $107.5 million, compared to $82.1 million in 2021. Fleet utilization remained high at 99.6% for Rail North America, while Rail International reported a drop in segment profit to $14.5 million. GATX expects full-year earnings at the upper end of its guidance of $5.60 to $6.00 per diluted share.

GATX Corporation (NYSE:GATX) will report its third-quarter 2022 results on October 25, 2022, before the market opens. A conference call will occur at 11 a.m. ET to discuss the results, with options for participation via phone or webcast. The dial-in numbers include 1-888-660-6118 (domestic) and 1-929-203-1802 (international). Replay options start at 2 p.m. ET on the same day. GATX has a long-standing history, having paid dividends uninterrupted since 1919.

GATX Corporation (NYSE:GATX) has secured a long-term railcar supply agreement with Trinity Industries, Inc. to purchase 15,000 newly built railcars by 2028, with an option for an additional 500 railcars annually. The deal includes 6,000 tank cars, delivered at 1,200 per year starting in 2024, plus 9,000 mixed freight and tank cars delivered at a rate of 1,500 cars per year. This agreement ensures GATX's access to modern railcars, aligning with their base fleet reinvestment strategy in North America through 2028.

GATX Corporation announces the retirement of Deborah A. Golden, executive vice president, general counsel, and corporate secretary, effective November 30, 2022. Ms. Golden has been with GATX since 2006, playing a vital role in the company’s success. Brian L. Glassberg, deputy general counsel, has been appointed to succeed her starting December 1, 2022. Brian has vast experience with GATX since 2011 and has contributed to several strategic initiatives. His promotion is expected to ensure continuity in legal and compliance functions as GATX expands globally.

GATX Corporation (NYSE:GATX) has announced the appointment of Erik Henstra as Managing Director of its subsidiary Trifleet Leasing, effective September 1. Henstra brings extensive international experience in asset leasing, having previously held senior roles at LeasePlan. His focus will be on building sustainable business models and enhancing customer service. This leadership change aims to drive Trifleet's growth while maintaining high service standards. GATX continues to provide innovative leasing solutions across various transport assets, including tank containers.

GATX Corporation (NYSE:GATX) announced that Thomas A. Ellman, CFO, will speak at the Cowen Annual Global Transportation and Sustainable Mobility Virtual Conference on September 7, 2022, at 9:20 a.m. EST. Investors can access a live webcast on GATX's website, which will be archived for 90 days. GATX leases transportation assets globally, emphasizing safe and sustainable services while supporting employee and community well-being. Investors are encouraged to check GATX's Investor Relations page for important updates and information.