GATX Q2 Profit Declines, Misses Estimates; Reiterates FY24 EPS Outlook

(RTTNews) - Transportation assets lessor GATX Corp. (GATX) reported Tuesday that net income for the second quarter declined to $44.4 million or $1.21 per share from $63.3 million or $1.74 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $1.43 per share, compared to $1.73 per share in the year-ago quarter.

Total revenues for the quarter increased to $386.7 million from $343.2 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.77 per share on revenues of $385.45 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company continues to projects earnings in the range of $7.30 to $7.70 per share. The Street is looking for earnings of $7.65 per share for the year.

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