NYSE$GATX
GATX Corporation · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
GATX performed well despite continued challenges in the markets, with Rail North America's fleet utilization remaining high and Portfolio Management benefiting from a large gain.
GATX Corporation reported a net income from continuing operations of $48.2 million, or $1.36 per diluted share, for the third quarter of 2020, compared to $37.2 million, or $1.03 per diluted share, in the third quarter of 2019. Rail North America's fleet utilization remained high at 98.2%. Portfolio Management realized an after-tax gain of $24.0 million on a transaction involving the refinancing and sale of a group of aircraft spare engines.
- Net income from continuing operations for Q3 2020 was $48.2 million, or $1.36 per diluted share.
- Rail North America's fleet utilization remained high at 98.2%.
- Renewal success rate was 58.1% during the quarter in Rail North America.
- Portfolio Management realized an after-tax gain of $24.0 million on a transaction involving the refinancing and sale of a group of aircraft spare engines.
Headline financials
Revenue & EPS history
GATX · Revenue · Quarterly
$304M
Revenue by segment
GATX · $299M total across 2 segments · Q3 2020
- Rail North America$232M—77.6%
- Rail International$67.1M—22.4%
Forward guidance
The global economic recovery remains tenuous due to a potential COVID-19 resurgence. The company remains focused on keeping employees safe, continuing commercial and operational execution, and pursuing attractively-priced growth opportunities.
Tailwinds
- Keeping employees safe
- Continuing commercial and operational execution
- Pursuing attractively-priced growth opportunities for shareholders
- Rail International continues to perform well
- GATX Rail India’s fleet utilization is 100% and its fleet growth trajectory is resuming absent further COVID-19 disruptions.
Headwinds
- Global economic recovery remains tenuous due to a potential COVID-19 resurgence
- North American railcar leasing market remains negatively affected by a persistent oversupply of railcars
- Weakness in certain markets, exacerbated by COVID-19’s economic impact
- RRPF operations remain challenged by the severe drop in demand for global air travel
- Higher fleet churn as a result of our lower renewal success
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+0.1%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.9%
Avg return
30 days after
46%
31 / 68 earnings
Positive
+14.2%
Q2 2018
Best reaction
-12.5%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.7% | -7.9% | -14.4% | |
| Q4 2025 | -0.6% | +2.8% | -13.4% | |
| Q3 2025 | -5.7% | -6.8% | -11.0% | |
| Q1 2025 | -4.4% | -2.8% | -2.8% | |
| Q4 2024 | +4.5% | +7.3% | +4.8% | |
| Q3 2024 | +5.7% | +5.2% | +21.3% | |
| Q2 2024 | -7.3% | -3.7% | -4.4% | |
| Q1 2024 | -3.2% | -1.9% | +3.9% | |
| Q4 2023 | +5.5% | +6.8% | +6.8% | |
| Q3 2023 | -3.3% | -3.6% | +3.6% | |
| Q2 2023 | -4.0% | -5.7% | -10.3% | |
| Q1 2023 | +0.1% | +0.9% | +4.9% | |
| Q4 2022 | +4.4% | +5.9% | +0.7% | |
| Q3 2022 | +5.1% | +7.2% | +17.2% | |
| Q2 2022 | -5.1% | -3.7% | +2.2% | |
| Q1 2022 | -6.0% | -7.9% | -12.6% | |
| Q4 2021 | +8.2% | +9.5% | +9.2% | |
| Q3 2021 | -4.8% | -2.5% | +3.6% | |
| Q2 2021 | +6.0% | +4.6% | -0.2% | |
| Q1 2021 | -1.0% | +0.6% | +1.3% | |
| Q4 2020 | +1.5% | +1.1% | +4.4% | |
| Q3 2020 | -0.5% | +1.9% | +17.2% | |
| Q2 2020 | +0.6% | +0.6% | +4.1% | |
| Q1 2020 | +5.7% | +6.5% | +13.0% | |
| Q4 2019 | +8.4% | +5.2% | +6.3% | |
| Q3 2019 | +4.2% | +5.8% | +8.2% | |
| Q2 2019 | -1.0% | +1.0% | -2.3% | |
| Q1 2019 | -3.4% | -0.7% | -6.2% | |
| Q4 2018 | -2.6% | +1.1% | +4.9% | |
| Q3 2018 | -12.5% | -13.5% | -4.9% | |
| Q2 2018 | +14.2% | +9.8% | +7.4% | |
| Q1 2018 | -1.5% | -1.8% | +7.4% | |
| Q4 2017 | +4.7% | +6.6% | +8.5% | |
| Q3 2017 | -4.9% | -6.7% | -10.4% | |
| Q2 2017 | -2.1% | -0.4% | -4.3% | |
| Q1 2017 | +1.7% | +1.6% | -1.5% | |
| Q4 2016 | +3.9% | +4.6% | +4.1% | |
| Q3 2016 | +3.1% | +0.1% | +13.2% | |
| Q2 2016 | -4.6% | -6.4% | -5.7% | |
| Q1 2016 | -0.9% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +3.3% | — | — | |
| Q2 2015 | -0.4% | — | — | |
| Q1 2015 | -1.0% | — | — | |
| Q4 2014 | +0.9% | — | — | |
| Q3 2014 | +2.2% | — | — | |
| Q2 2014 | -5.3% | — | — | |
| Q1 2014 | +1.1% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | -2.1% | — | — | |
| Q4 2012 | -2.1% | — | — | |
| Q2 2013 | -0.5% | — | — | |
| Q1 2013 | -1.2% | — | — | |
| Q3 2012 | -1.6% | — | — | |
| Q2 2012 | +1.2% | — | — | |
| Q1 2012 | +2.6% | — | — | |
| Q4 2008 | +1.5% | — | — | |
| Q4 2011 | +1.5% | — | — | |
| Q3 2011 | -4.3% | — | — | |
| Q2 2011 | +7.2% | — | — | |
| Q1 2010 | +1.7% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2010 | -6.3% | — | — | |
| Q3 2009 | +0.5% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q2 2010 | -0.5% | — | — | |
| Q2 2009 | -0.5% | — | — | |
| Q4 2009 | -0.5% | — | — |
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