Headquartered in Chicago, IL Fiscal year ends December NYSE: GATX gatx.com
GATX Corporation leases transportation assets, including railcars, aircraft spare engines and tank containers, to customers worldwide. It reports three segments.
- Rail North America: owns and manages a fleet of approximately 199,100 railcars, including about 9,000 boxcars. The fleet was expanded significantly by the acquisition of Wells Fargo's rail assets. The segment earns lease revenue, management fees (including from a Brookfield-owned finance lease portfolio) and gains from secondary-market railcar sales.
- Rail International: includes GATX Rail Europe, with about 36,700 cars, and GATX Rail India, with over 12,900 railcars.
- Engine Leasing: comprises the 50%-owned Rolls-Royce and Partners Finance affiliates (475 aircraft engines) and the wholly owned GATX Engine Leasing portfolio (46 engines).
GATX generates revenue primarily from operating leases, supplemented by asset remarketing gains, maintenance-related revenue and affiliate earnings. It has paid an uninterrupted quarterly dividend since 1919. Updated
GATX now expects full-year earnings to modestly exceed the high end of its prior $9.90 to $10.30 guidance range after the Wells Fargo rail deal roughly doubled its North American fleet to about 199,100 cars. Utilization sits at 98.4% with secondary-market railcar demand still strong.
Nobody is building a competing transcontinental railroad, and that simple fact has quietly funded decades of rising dividends across four companies most investors never think about.
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GATX Corporation leases transportation assets, including railcars, aircraft spare engines and tank containers, to customers worldwide. It reports three segments. - Rail North America: owns and manages a fleet of approximately 199,100 railcars, including about 9,000 boxcars.
24/7 Wall St.'s 12-month price target for GATX is $260.83, rated Buy. The Wall Street consensus target is $221.75. GATX price prediction →
