GATX Q2 Profit Grows; Ups FY Earnings View - Quick Facts

(RTTNews) - GATX Corp. (GMT) reported higher second-quarter net income of $35.1 million or $0.74 per share, compared with $23.5 million or $0.49 per share in the same quarter of 2012. On average, 6 analysts polled by Thomson Reuters expected earnings per share of $0.85 for the quarter. Analysts' estimates typically exclude one-time items.

According to the company, the latest results included a benefit from Tax Adjustments and Other Items of $3.0 million or $0.06 per share, while the prior year's results included the negative impact from Tax Adjustments and Other Items of $15.3 million or $0.31 per share.

Total revenues for the period were $338.9 million, an increase from last year's $323.1 million. Analysts estimated revenues of $342.76 million for the quarter.

GATX said in a statement: "Based on year-to-date performance, continued strength in North American rail, and our expectation that remarketing income will be strong during the second half of the year, we are increasing our 2013 full year earnings expectations to $3.20 - $3.30 per diluted share. This guidance excludes any impact from Tax Adjustments and Other Items."