GATX Corp. Q3 Profit Down, Misses Estimates; But Raises Annual Earnings Outlook

(RTTNews) - GATX Corp. (GMT) Thursday reported third-quarter net earnings which declined slightly, despite revenue growth, and missed analysts' estimates. The company, however, raised its annual earnings guidance.

Net earnings were $51.3 million or $1.14 per share, down from $53.8 million or $1.15 per share a year earlier.

Analysts polled by Thomson-Reuters expected earnings of $1.16. Analysts' estimates typically exclude one-time items.

Revenues grew to $397.2 million, from $353.2 million a year earlier. Analysts expected revenues of $393.53 million.

The company raised its annual earnings guidance to $4.30 - $4.45 per share, from $4.15 - $4.35 per share previously projected. Analysts expect earnings of $4.33 for the full year.