GATX reports Q1 EPS $2.03, consensus $1.76

Reports Q1 revenue $379.9M, consensus $375.8M. “We continue to experience solid demand globally for most railcar types in our fleets,” said Robert Lyons, president and chief executive officer of GATX. “At Rail North America, fleet utilization remained high at 99.4% at the end of the first quarter and the renewal success rate during the quarter was very strong at 83.4%. The renewal lease rate change of GATX’s Lease Price Index was positive 33%, with an average renewal term of 64 months. In the first quarter, we generated remarketing income of $33 million, reflecting continued depth and strength in the secondary market.”