GATX reports Q2 EPS $2.06, consensus $2.01

Reports Q2 revenue $430.5M, consensus $427.07M. “Our strong second-quarter results reflect solid operating performance across our global businesses,” said Robert Lyons, president and chief executive officer of GATX (GATX). “At GATX Rail North America, fleet utilization remained high at 99.2% at the end of the quarter and the renewal success rate was strong at 84.2%. Demand for our railcars remained stable during the quarter, and our commercial team continued to focus on improving renewal lease rates and lengthening lease terms on many car types. The renewal lease rate change of GATX’s Lease Price Index was 24.2% with an average renewal term of 60 months. In the second quarter, we capitalized on an active secondary market and generated remarketing income of over $34 million.”