This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GATX Corporation Reports 2012 Second Quarter Results

GATX Corporation (NYSE:GMT) today reported 2012 second quarter net income of $23.5 million or $.49 per diluted share, compared to net income of $26.4 million or $.56 per diluted share in the second quarter of 2011. The 2012 and 2011 second quarter results include the aggregate impact from Tax Adjustments and Other Items of negative $15.3 million or $.31 per diluted share and positive $6.2 million or $.13 per diluted share, respectively.

Net income for the first six months of 2012 was $53.8 million or $1.13 per diluted share, compared to $46.3 million or $.98 per diluted share in the prior year period. The 2012 and 2011 year-to-date results include the impact from Tax Adjustments and Other Items of negative $17.5 million or $.36 per diluted share and positive $12.6 million or $.27 per diluted share, respectively. Details related to the Tax Adjustments and Other Items are provided in the attached Supplemental Information.

Brian A. Kenney, president and chief executive officer of GATX, said, “We are seeing continued strong demand for most railcar types in our fleet. During the second quarter, GATX’s Lease Price Index (“LPI”) was a positive 23.9% and the average renewal term for cars in the LPI was 59 months. These results were achieved while maintaining over 98% utilization of the North American railcar fleet.

“There is also healthy demand for new railcars delivering under our five-year supply agreement. Railcars scheduled to deliver through the end of 2013 have already been allocated to customers on long-term leases at very attractive rates.”

Mr. Kenney continued, “In Europe, we are placing new tank car deliveries at favorable rates and demand for existing tank cars remains solid. Also, during the quarter we announced our entry into the Indian railcar leasing market with the purchase of railcars that will begin to deliver in August.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,810.20 +33.77 0.20%
S&P 500 1,979.18 -7.87 -0.40%
NASDAQ 4,742.7060 -38.5580 -0.81%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs