GATX CORP (NYSE:GATX) today reported Q3 2025 net income of $82.2 million, or $2.25 per diluted share, a decrease from $89.0 million, or $2.43 per diluted share, in Q3 2024. Total revenues for the quarter increased to $439.3 million, up from $405.4 million in the prior year period. The company reiterated its 2025 full-year earnings guidance of $8.50 to $8.90 per diluted share.
Net income for the first nine months of 2025 was $236.3 million, or $6.46 per diluted share, compared to $207.7 million, or $5.68 per diluted share, in the prior year period. The Q3 2025 results included a net positive impact of $5.3 million, or $0.15 per diluted share, from Tax Adjustments and Other Items. The Q3 2024 results included a net negative impact of $2.5 million, or $0.07 per diluted share, from these items.
Robert C. Lyons, president and chief executive officer, stated, "Conditions across our global markets remain largely consistent with our original expectations." He added, "Based on current market conditions and our year-to-date performance, we continue to expect 2025 full-year earnings to be in the range of $8.50-$8.90 per diluted share. This guidance excludes the impact of Tax Adjustments and Other Items."
In Rail North America, segment profit was $70.7 million in Q3 2025, down from $102.4 million in Q3 2024. This was primarily due to lower gains on asset dispositions and higher interest and maintenance expenses, partially offset by higher revenue. Fleet utilization stood at 98.9% at quarter end, and the renewal success rate reached 87.1% for the third quarter. The Lease Price Index renewal lease rate change was positive 22.8% with an average renewal term of 60 months. The company generated over $16 million in remarketing income.
Rail International reported segment profit of $34.4 million in Q3 2025, an increase from $33.9 million in the prior year, driven by more railcars on lease. GATX Rail Europe's fleet utilization was 93.7% at quarter end, while GATX Rail India's fleet utilization was 100.0%. GATX Rail Europe also announced an agreement to acquire approximately 6,000 railcars through a sale-leaseback transaction with DB Cargo AG.
Engine Leasing's segment profit rose to $60.4 million in Q3 2025, up from $37.5 million in Q3 2024. This increase was driven by strong operating performance at the Rolls-Royce and Partners Finance affiliates and increased earnings from GATX Engine Leasing due to more engines under ownership. In Q3, GATX invested approximately $147 million to acquire seven engines for its wholly owned portfolio. The company's previously announced acquisition of Wells Fargo's rail operating lease assets remains on track to close in the first quarter of 2026 or sooner.
