• ITVI.USA
    15,536.540
    74.080
    0.5%
  • OTLT.USA
    2.754
    0.002
    0.1%
  • OTRI.USA
    20.490
    -0.180
    -0.9%
  • OTVI.USA
    15,507.170
    69.970
    0.5%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
  • ITVI.USA
    15,536.540
    74.080
    0.5%
  • OTLT.USA
    2.754
    0.002
    0.1%
  • OTRI.USA
    20.490
    -0.180
    -0.9%
  • OTVI.USA
    15,507.170
    69.970
    0.5%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
American ShipperShippingTrade and Compliance

GATX posts drop in Q1 earnings despite beating expectations

The global railcar lessor’s diluted earnings per share stood at $1.44 for Q1 2017, down from Q1 2016, but still surpassing analyst expectations thanks to higher-than-expected gains on railcar sales.

   Global railcar lessor GATX Corporation reported a net income of $57.5 million for the first quarter of 2017, falling 17 percent from the corresponding 2016 period.
   However, first quarter 2016 results included a net gain of approximately $1.5 million associated with the planned exit of the majority of the Portfolio Management segment’s marine investments, GATX said.
   Diluted earnings per share fell from $1.66 for the first quarter of 2016 to $1.44 per share for the first quarter of 2017, which industry analyst Stifel said beat the street consensus estimate of $1.15 per share and its estimate of $1.04 per share, primarily from higher-than-expected gains on railcar sales.
   Meanwhile, revenues for the quarter slipped 5.5 percent year-over-year to $316.1 million, according to GATX’s financial statements.
   Broken down by segment, Rail North America reported a profit of $93 million, followed by Portfolio Management at $14.7 million, Rail International at $13.4 million and American Steamship Company with a loss of $0.2 million.
   Chicago-based GATX Corporation owns railcar fleets in North America, Europe and Asia, in addition to operating the largest fleet of U.S.-flagged vessels on the Great Lakes.

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