GATX, a railway car and locomotive, reported that the net income in the fourth quarter of 2024 was $ 76.5 million or $ 2.10 per share, while the net income was $ 66 million, or the net income in the fourth quarter of 2023 was $ 66 million or 1.81 Dollar.
GATX (NYSE: GATX), headquartered in Chicago, said that the use of its wholly -owned fleet of the Railway North American forces includes about 111,400 cars, excluding 8,400 shed cars, 99.1 % at the end of the fourth quarter, and at the end of 99.3 % is the end of 99.3 %. 99.3 % of 99.3 % in the previous quarter and the end of 2023.
In the fourth quarter, the renewal lease rate of the GATX lease price index (LPI) changed to 26.7 %. In contrast, the previous quarter was 26.6 %, and the fourth quarter of 2023 was 33.5 %. In the fourth quarter, the average renewal period of railway vehicles contained in LPI was 60 months, while the previous quarter was 59 months, and in the fourth quarter of 59 months in 65 months. The renewal success rate in the fourth quarter of 2024 was 89.1 %, while 82.0 % in the previous quarter, and 87.1 % in the fourth quarter of 2023.
The net income of 2024 was $ 284.2 million or $ 7.78 per share, while the annual diluted stocks (Y/Y) each year (Y/Y) were US $ 259.2 million or $ 7.12.
The results of the fourth quarter of 2024 and 2023 include the net positive impact of the diluted share of 17 cents per share and 7 cents of the diluted share per share.
The annual results of 2024 include the net negative effects of 11 cents per share of tax adjustment and other projects. The annual results of 2023 include a positive impact of tax adjustment and 5 cents per share in other items.
Gatx President and CEO Robert C. Lyons said in a press release: "According to the excellent performance of the whole year, GATX provides a full year of financial results in 2024, exceeding our original expectations." The demand for existing railway vehicles has remained stable, as expected.
"In addition to business performance, we also invested more than 1.1 billion US dollars in the North American railway business in 2024. In addition to the investment based on our existing supply agreement, we also expand the platform through speculative railway vehicles. In addition, Our demand for GATX assets in the secondary market continues to be strong, enabling us to optimize the team through railway sales and generate a large amount of asset marketing income. "
The Railway North American report profit for the market in the fourth quarter of 2024 was $ 85 million, while the fourth quarter of 2023 was $ 67 million. In the year, the profit was $ 356 million from $ 356 million in $ 356 million. Profit returns are mainly driven by high lease income, and some of them are partially offset by higher interest expenses.