GATX reports Q1 EPS $2.15, consensus $2.09

Reports Q1 revenue $421.6M, consensus $417.09M. “We continued to experience solid demand for our assets globally,” said Robert Lyons, president and chief executive officer of GATX (GATX). “At GATX Rail North America, fleet utilization was 99.2% at quarter end and the renewal success rate remained very strong at 85.1% during the quarter. The renewal lease rate change of GATX’s Lease Price Index was 24.5% with an average renewal term of 61 months. We continued to optimize our fleet by selectively selling railcars in the secondary market, generating over $30 million of remarketing income in the quarter.”