GATX Jumps on Strong Quarter

GATX(GMT Quote), a lease financing and related services provider, said its first-quarter earnings rose 68.7% from the year-ago period.

The Chicago-based company earned $47.9 million, or 83 cents a share, in the quarter, compared with $28.4 million, or 52 cents a share, a year ago. First-quarter results include $3.4 million, or 6 cents a share from lower depreciation on air assets targeted for sale. Analysts surveyed by Thomson First Call were expecting earnings of $27.1 million, or 54 cents a share in the most recent quarter.

First-quarter revenue rose 11.6% from a year ago period to $289.5 million as against analysts' expectation of $262.3 million. ...