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GATX Corporation (NYSE: GATX) is a leading provider of railcar leasing and maintenance services, aspiring to be the finest railcar leasing company globally. Founded in 1898 and headquartered in Chicago, Illinois, GATX has been delivering high-quality railcars and services for over 118 years. The company operates through four primary business segments: Rail North America, Rail International, and Portfolio Management.
GATX controls one of the largest railcar lease fleets in the world, serving a variety of industries including refining and petroleum, chemicals and plastics, transportation, mining, and food and agriculture. The company's fleet comprises tank and freight railcars, which are leased across North America, Europe, and Asia.
GATX is committed to relentless execution and seamless service, powered by a diverse team of passionate professionals from finance, operations, engineering, manufacturing, sales, research, and technology. The company continually strives to meet the highest standards of service excellence for its customers, shareholders, employees, and the communities where it operates.
Recent achievements and ongoing projects underscore GATX's dedication to innovation and operational efficiency. The company remains focused on growing its leasing portfolio while maintaining financial stability and forging strategic partnerships to enhance service offerings. For more details, visit the company's website at www.gatx.com.
GATX Corporation (NYSE:GATX) has announced its acquisition of Trifleet Leasing Holding B.V., the fourth largest global tank container lessor, for approximately €175 million in cash, finalized on Dec. 29, 2020. Trifleet, based in the Netherlands, manages over 18,000 tank containers serving diverse sectors including chemicals, energy, and pharmaceuticals. This acquisition aims to enhance GATX's railcar leasing business and leverage its global customer base, focusing on safety, quality, and environmental responsibility.
GATX Corporation's CEO, Brian A. Kenney, will participate in a virtual fireside chat at the Stephens Annual Investment Conference on Nov. 17, 2020, at 4 p.m. ET. Investors can access the live webcast via www.gatx.com, available 15 minutes prior to the event. The conference will be archived for 90 days for later viewing. GATX, a leader in railcar leasing for over 121 years, is headquartered in Chicago, Illinois, and consistently shares financial updates through various channels on its Investor Relations website.
GATX Corporation will participate in Baird’s 2020 Global Industrial Conference on November 12, 2020, with a presentation by Thomas A. Ellman, CFO. The presentation, scheduled for 2:45 PM Central Time, will provide insights into the company’s operations. Interested parties can access the live webcast on www.gatx.com and will find accompanying slides available beforehand. GATX, a leader in railcar leasing, has been operating since 1898, and emphasizes transparency by releasing material information through various channels on its website.
GATX Corporation (NYSE:GATX) has appointed Jennifer Van Aken as senior vice president, treasurer, and chief risk officer. Van Aken has been with GATX since 2006, holding various leadership roles in treasury, investor relations, and investment risk management. She brings extensive experience in finance, having previously worked in the financial services industry. Thomas A. Ellman, GATX's CFO, expressed confidence in her ability to enhance the company's treasury and risk management operations. Van Aken holds a Bachelor of Science in Mathematics and an MBA from Carnegie Mellon University.
GATX Corporation has declared a quarterly dividend of $0.48 per common share, scheduled for payment on December 31, 2020, to shareholders on record by December 15, 2020. This amount remains unchanged from the previous quarter. GATX, established in 1898, is recognized as a leading global railcar leasing company, delivering quality railcars and services for over 121 years. The company continues to focus on customer service and shareholder value.
GATX Corporation reported a third-quarter net income of $48.2 million, or $1.36 per diluted share, up from $37.2 million or $1.03 per diluted share in Q3 2019. However, total net income for the first nine months decreased to $132.4 million from $138.7 million year-over-year. Fleet utilization remained high at 98.2%. The company faced a negative impact of $12.3 million due to tax adjustments and a decline in lease revenue in Rail North America, down from $60.9 million in Q3 2019 to $56.1 million. Portfolio Management saw a significant gain of $24.0 million from aircraft spare engine transactions.
GATX Corporation (NYSE:GATX) is set to release its third-quarter results for 2020 on Oct. 20, prior to market opening. A conference call will be held at 11 a.m. ET the same day for investors to discuss the results, available through both telephone and webcast. Interested parties can access the call by dialing in or visiting GATX's website. A replay of the call will be accessible starting at 2 p.m. ET on the same day. GATX has been a leader in railcar leasing for over 121 years, headquartered in Chicago.
On September 8, 2020, GATX announced that Robert C. Lyons will present at the Cowen 2020 Global Transportation and Sustainable Mobility Virtual Conference on September 9, 2020. The presentation will provide an overview of GATX’s operations, starting at 10:40 a.m. Eastern Time. Interested parties can access the live webcast via GATX’s website, with an archive available for 90 days post-event. GATX, a leading global railcar lessor, has been in operation for over 121 years and is headquartered in Chicago.
On July 31, 2020, GATX Corporation declared a quarterly dividend of $0.48 per common share, set for payment on September 30, 2020, to shareholders on record as of September 15, 2020. This dividend remains unchanged from the previous quarter, reflecting the company's stable payout policy. GATX, headquartered in Chicago since 1898, is committed to being a top railcar leasing provider, serving clients with quality services for over 121 years.
GATX Corporation reported a net income of $37.0 million or $1.05 per diluted share for Q2 2020, down from $60.3 million or $1.65 per diluted share in Q2 2019. Revenue pressures are evident, with a notable decline in lease renewal rates, which changed negatively by 28%. Despite high fleet utilization rates at 98.7%, the company is facing significant challenges due to COVID-19, leading to a lack of guidance for 2020. The sale of American Steamship Company for $260 million has been recognized as a discontinued operation.
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