• ITVI.USA
    14,270.140
    -77.460
    -0.5%
  • OTRI.USA
    22.470
    0.090
    0.4%
  • OTVI.USA
    14,258.910
    -85.130
    -0.6%
  • TLT.USA
    2.790
    0.030
    1.1%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    14,270.140
    -77.460
    -0.5%
  • OTRI.USA
    22.470
    0.090
    0.4%
  • OTVI.USA
    14,258.910
    -85.130
    -0.6%
  • TLT.USA
    2.790
    0.030
    1.1%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

GATX RAIL OPTIMISTIC DESPITE FALL IN 3RD-QUARTER EARNINGS

GATX RAIL OPTIMISTIC DESPITE FALL IN 3RD-QUARTER EARNINGS

   GATX Rail, the rail and locomotive leasing unit of GATX Corp., reported third-quarter net income of $11.0 million, down 30.8 percent from the year-earlier period.

   Revenue rose 1.7 percent to $146.9 million, while fleet utilization slipped to 91 percent, from 93 percent.

   “Cost-reduction efforts are supporting results despite continued weakness in the rail sector, and we have increased our 2001 income expectation at GATX Rail from the $40 million range to approximately $45 million,” said Ronald H. Zech, chairman and president of Chicago-based GATX Corp.

   The parent company reported a net loss of $7.3 million for the third quarter, compared to net income of $45.1 million in the prior year period. GATX Corp.'s third-quarter 2001 results included pretax telecommunications-related charges    of $56 million and a one-time pr't-tax reserve benefit of $13.1 million. Excluding these, GATX Corp. said it's net income would have been $18.9 million.

   For the first nine months of 2001, GATX Rail had net income of $34.6 million, down 33.8 percent, on revenue of $441.3 million, up 2.9 percent.