GATX (GATX +1.5%) reported Q2 revenue growth of 2.8% Y/Y to $ 359.4M; with Lease revenue of 274M (+1.1% Y/Y); Marine operating revenue of $60.9M (+9.1% Y/Y); and other revenue of $24.5M (+7.9% Y/Y).
Revenue by segments: Rail North America $241.2M (+1.5% Y/Y); Rail International $55.7M (+2.4% Y/Y); Portfolio Management $0.6M (-85.4% Y/Y) and ASC $61.9M (+16.4% Y/Y).
Segment Profits: Rail North America $85.8M (+33.6% Y/Y); Rail International $21.3M (+66.4% Y/Y); Portfolio Management $11.9M (+4.4% Y/Y); and ASC $12.1M (+51.3% Y/Y).
Rail North America: Q2 Fleet utilization was 99.5%, compared 98.9% at the end 2Q18; Lease Price Index was negative 2.8% in the quarter, with an average renewal term of 53 months. Fleet of ~119,500 railcars, including ~16,000 boxcars.
GRE’s fleet consisted of ~24,000 cars and Q2 utilization was 98.9%.
ASC carried 9.9M net tons of cargo in Q2, compared to 9M during the same period in 2018.
FY19 Guidance, reaffirmed: EPS $4.85-$5.15.
Previously: GATX EPS beats by $0.46, beats on revenue (July 18)
Subscribe for full text news in your inbox