What guidance did Gatx's management provide for the next earnings period?

What is the market's earnings forecast for Gatx next quarter?

What were the key takeaways from Gatx's earnings call?

What does Gatx do and what are its main business segments?

Did Gatx beat or miss consensus estimates last quarter?

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What is the revenue and EPS growth rate for Gatx year over year?

What is Gatx's gross profit margin?

- **Q3 Results**: Net income $82.2M (-8% YoY), but strong operational performance across segments.
- **North America Strength**: 98.9% utilization, +22.8% lease rate QoQ, $60M remarketing income.
- **Engine Leasing Outperformance**: $147M in engine purchases, JV investment $1B+ YTD.
- **Wells Fargo Deal**: Modestly accretive in 2026, with SG&A and management fee synergies.
- **2025 Guidance**: $8.50-$8.90 per share, driven by remarketing and engine leasing growth.

**【CEO Summary Section】**
- Q3 2025 net income of $82.2 million ($2.25 per diluted share), down 8% YoY due to tax adjustments. Full year guidance remains $8.50-$8.90 per share.
- North America: Fleet utilization 98.9%, renewal success rate 87.1%, lease rate increase of +22.8% QoQ. Generated $60M in remarketing income, with $81M YTD.
- Europe: Fleet utilization 93.7%, renewed leases at higher rates. Acquired 6,000 railcars from DB Cargo via sale-leaseback.
- India: 100% fleet utilization, 600 new cars delivered.
- Engine Leasing: $147M spent on 7 engines, JV investment exceeds $1B YTD. Strong demand for spare engines.
- Pending Wells Fargo acquisition expected to close Q1 2026, modestly accretive in first full year.

**【CFO Financial Commentary】**
- GAAP EPS: $2.25 (down 7% YoY), Non-GAAP EPS: $2.25 (down 8% YoY). Excludes $5.3M tax benefit.
- Rail North America: Operating income up 12%, driven by lease rate increases and cost control.
- Engine Leasing: Operating income $85M, remarketing gains $15M. JV affiliate income $53.4M (pretax).
- 2025 guidance unchanged: $8.50-$8.90 per share, excluding Wells Fargo impact.

**【Q&A Key Highlights】**
- **Remarketing Income**: Expect $60M+ Q4, $100M+ annualized in 2026+. Secondary market demand strong.
- **Wells Fargo Deal**: Synergies include SG&A savings and management fees. No immediate impact on maintenance costs.
- **Lease Rates**: Sequential decline minimal, supported by tight fleet and scrap rates. 20%+ renewal rate sustained.
- **Engine Leasing**: JV investment pace ahead of expectations, direct engine purchases opportunistic.
- **Maintenance Costs**: Q3 spike due to higher outsourcing; long-term cost control intact.


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