GATX
GATX Corporation169.86
+0.16+0.09%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details gains variability, synergies.
Q&A drilled into 2026 guidance variability, pinning lumpy $200M remarketing gains—split $130M legacy GATX, $70M Wells fleet—as the swing factor alongside tight $500M maintenance control, with $10M-$15M EPS sensitivity low-to-high end. No railcar shortages yet, but supply-led shrinkage from low builds fuels secondary demand, aiding Wells' 95% freight cars. Management fees total $55M, driving $0.20-$0.30 EPS accretion despite lease accounting drag. Boxcars feel macro pinch, core tanks stable. Integration smooth, no surprises. Gains timing matters most.
Key Stats
Market Cap
6.06BP/E (TTM)
19.84Basic EPS (TTM)
8.56Dividend Yield
0.01%Recent Filings
8-K
GATX JV issues $1B notes
GATX's JV GABX Leasing issued $500M 4.625% senior notes due 2031 and $500M 5.300% notes due 2036 on March 12, 2026, guaranteed by GATX, netting ~$989.5M to repay term loans. Notes rank senior unsecured, with call options and change-of-control repurchases at 101%. Debt refinances efficiently. Indenture limits secured debt but allows flexibility.
10-K
FY2025 results
GATX posted FY2025 net income of $333.3M ($9.12 diluted EPS), up from $284.2M ($7.78) in 2024, driven by 9.8% revenue growth to $1.74B. Rail North America segment profit dipped 1.2% to $351.8M despite 8.1% lease revenue rise, hit by higher maintenance and interest; non-boxcar utilization held at 99.0%. Rail International profit climbed 5.1% to $125.9M on fleet growth including Q4's 5,882 DB Cargo railcars, though GRE utilization slipped to 94.7%. Engine Leasing soared 54.7% to $181.5M via RRPF affiliates. Q4 saw Rail NA repairs up, GRE expansion, and GABX prepped with $385M equity for Jan 2026 Wells Fargo close. Repurchased $65M shares; $743M unrestricted cash, 3.3x leverage. GABX integration risks loom.
8-K
GATX beats earnings, boosts dividend
GATX reported 2025 net income of $333.3M ($9.12/share), up from $284.2M ($7.78/share), fueled by Rail North America utilization at 99.0% and $117.0M remarketing income. Board hiked quarterly dividend 8.2% to $0.66/share and greenlit $300M buyback; closed $4.2B Wells Fargo railcar acquisition Jan. 1 via Brookfield JV. Issues 2026 EPS guide of $9.50–$10.10. Strong cash flows endure.
8-K
GATX closes $4.2B railcars JV deal
GATX and Brookfield Infrastructure closed their $4.2B acquisition of Wells Fargo's 101,000 railcars on January 1, 2026, via GABX Leasing LLC JV (GATX 30%, Brookfield 70%). GATX guarantees GABX's $3.0B term loan and $250M revolver (maturing 2030 at SOFR+1.35%) used for the purchase; GATX manages operations with a call option for full JV ownership. Deal expands GATX's rail portfolio while preserving leverage flexibility.
10-Q
Q3 FY2025 results
GATX posted Q3 revenues of $439.3M, up 8.4% y/y, with lease revenue climbing to $377.1M from $351.7M on higher rates across Rail North America and International. Net income dipped to $82.2M ($2.25 diluted EPS) from $89.0M ($2.43), as lower asset disposition gains ($23.1M vs $48.5M) and higher maintenance ($112.5M vs $95.9M) offset revenue momentum; EPS reconciles to 36.0M diluted shares. Cash swelled to $696.1M, operating cash flow hit $503.8M YTD (up from $396.1M), while recourse debt rose to $8,751.3M; revolvers fully available. Rail NA utilization held at 98.9%. Signed $4.4B Wells Fargo railcar JV deal (30% stake, closing Q1 2026); GRE to buy 6,000 railcars Q4 2025. Customer demand can falter amid weak macro conditions.
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