GATX reports Q3 adjusted EPS $2.10, consensus $2.32

Reports Q3 revenue $439.3M, consensus $435.78M. “Conditions across our global markets remain largely consistent with our original expectations,” said Robert Lyons, president and chief executive officer of GATX (GATX). “At Rail North America, demand for most car types remains stable despite ongoing macroeconomic uncertainty. Fleet utilization was 98.9% at quarter end, and the renewal success rate reached 87.1% for the third quarter. The renewal lease rate change of GATX’s Lease Price Index was positive 22.8% with an average renewal term of 60 months. These results reflect our commercial team’s ongoing success in raising renewal lease rates and extending terms, enabling us to lock in high-quality, long-term committed cash flow. In addition, the secondary market in North America remains very strong, and we generated over $16 million in remarketing income this quarter.”