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GATX Appoints Eren Doygun as Senior Vice President

GATX Corporation announced that Eren Doygun has been appointed senior vice president, SVP, chief planning and investment officer, effective immediately. In this role, Doygun will lead GATX's strategic planning and operational finance functions, including financial planning and analysis, valuation, and investment analysis and governance activities.

GATX Raises 2026 Full-Year Earnings Estimate to $9.90 - $10.30

Lyons concluded, "We are increasing our 2026 full-year earnings estimate to be in the range of $9.90 - $10.30 per diluted share. This increase reflects several positive factors: strong operating performance and contributions from each of our segments year to date, favorable supply-demand dynamics that are driving the North American rail market, the pace of integration and positive impacts generated by the Wells Fargo Rail acquisition, and the expectation that our teams across GATX will continue executing at a high level. Combined with disciplined investment in our core markets, we believe we are well-positioned to continue generating attractive growth and returns for our shareholders."

GATX Q2 Revenue at $580.1M, Below Consensus

Reports Q2 revenue $580.1M, consensus $598.77M. "GATX delivered strong second-quarter results," said Robert C. Lyons, president and chief executive officer of GATX. "At Rail North America, fleet demand remained stable for most car types. Utilization of the combined fleet remained high at 98.0% at quarter end, while the renewal lease rate change of GATX's Lease Price Index was 16.8% with an average renewal term of 54 months. Also, our second-quarter renewal success rate was strong at 82.6%. Our team has done an outstanding job integrating the Wells Fargo Rail fleet, and we are seeing incremental benefits related to the acquisition, both commercially and operationally. We did experience an abnormally high volume of railcar renewals in sand service during the quarter, including some carried over from the period immediately following the acquisition, which placed pressure on second-quarter LPI. Demand for railcars in the secondary market was very strong, as we continue to see robust interest in GATX assets from a broad and deep buyer universe. We generated $67.7 million of gains on asset dispositions in the quarter, bringing our year-to-date total to $117.5 million. At Rail International, GATX Rail Europe's fleet utilization was 95.3% at quarter end, a modest increase from the previous quarter and a very positive outcome given the generally tepid economic conditions across Europe. GATX Rail India's fleet remains fully utilized, reflecting robust demand for railcars in India.Engine Leasing performed well as demand for aircraft spare engines remains strong. Global air passenger traffic trends have remained healthy year to date despite the ongoing conflict in the Middle East. We continue to identify attractive aircraft engine investment opportunities, with the RRPF affiliates investing over $660 million year to date."