GATX Rail Europe

“In 2022, we anticipate the steady recovery in the North American railcar leasing market will continue,” GATX President and CEO Brian A. Kenney said during a Jan. 25 earnings announcement. “We expect market lease rates to increase above average expiring rates for railcars renewing during the year.”

GATX: ‘Steady’ Leasing Recovery to Continue in ’22

At GATX, Rail North America’s 2021 “outperformance was driven by improving market conditions,” President and CEO Brian A. Kenney said during the company’s fourth-quarter and full-year 2021 earnings announcement on Jan. 25; in addition to achieving “higher fleet utilization and a higher renewal success rate, we have now experienced six consecutive quarters of sequential increases in absolute lease rates,” he reported.

GATX 3Q21: ‘Demand Strong, Lease Rates Rise’

“We continue to see improvement across our global railcar leasing markets,” GATX Corp. President and CEO Brian A. Kenney said during a third-quarter 2021 earnings report on Oct. 21; he noted fleet utilization increased to 99.2% at quarter end for North America, and remained high at 98.1% for GATX Rail Europe.

“Conditions in the North American railcar leasing market are consistent with our outlook coming into the year,” GATX President and CEO Brian A. Kenney said during a first-quarter 2021 earnings announcement. “GATX’s fleet utilization decreased slightly to 97.8% and our renewal success rate was 77.7% for the quarter.”

GATX: ‘Pressure on Revenue Remains’

For Chicago-based GATX Corp., net income from continuing operations for the first three months of 2021 came in at $36.5 million, or $1.02 per diluted share—down 22.67% from the prior-year period’s $47.2 million, or $1.33 per diluted share.