GATX Corp. said first-quarter net income attributable to the company rose to $85.5 million, or $2.35 a diluted share, from $78.6 million, or $2.15 a share, a year earlier.
The rail lessor’s biggest business, Rail North America, reported segment profit of $103.9 million, up from $88.8 million in the first quarter of 2025. The division’s fleet utilization ended the quarter at 98.1%, down from 99.2% a year earlier and down from 99.0% at the end of the prior quarter.
Rail North America’s lease price index was 22.3% in the quarter, compared with 24.5% in the same period last year and 21.9% in the fourth quarter. The average renewal term shortened to 56 months from 61 months a year ago and 58 months in the prior quarter. Renewal success rate fell to 79.1% from 85.1% a year earlier and 91.4% in the prior quarter.
Fleet size in Rail North America reached about 206,100 cars at March 31, including 9,900 boxcars. GATX said first-quarter investment volume in the rail unit was about $4.5 billion, including the roughly $4.2 billion purchase of Wells Fargo’s rail operating lease portfolio.
Rail International segment profit increased to $31.6 million from $25.7 million a year earlier. Rail Europe utilization held at 94.7%, unchanged from the prior quarter and down from 95.1% a year earlier. Rail India utilization was 100.0%, unchanged from the prior quarter and up from 99.6% a year earlier.
Engine Leasing segment profit slipped to $35.3 million from $38.6 million a year earlier. GATX said Rolls-Royce and Partners Finance affiliates invested about $135 million in aircraft spare engines during the quarter.
The company reiterated full-year 2026 earnings guidance of $9.50 to $10.10 per diluted share. As a result of these announcements, the company's shares have moved -5.49% on the market, and are now trading at a price of $188.595. For more information, read the company's full 8-K submission here.
