GATX Q3 Profit Surges, But Misses Estimates

(RTTNews) - GATX Corp. (GATX) reported Tuesday that net income for the third quarter surged to $52.5 million or $1.44 per share from $29.1 million or $0.81 per share in the prior-year quarter.

Total revenues for the quarter increased to $360.1 million from $321.0 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.47 per share on revenues of $344.02 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, based on year-to-date performance and the outlook for the remainder of the year, the company expects full-year earnings to modestly exceed the high end of the previously announced guidance range of $6.50 to $6.90 per share. The Street is looking for earnings of $6.98 per share for the year.

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