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Exhibit 99.1
NEWS RELEASE 
image0a04a01a15.jpg
 
FOR RELEASE: IMMEDIATE

GATX CORPORATION REPORTS 2018 FIRST-QUARTER RESULTS
CHICAGO, April 19, 2018 - GATX Corporation (NYSE:GATX) today reported 2018 first quarter net income of $76.3 million or $1.98 per diluted share, compared to net income of $57.5 million or $1.44 per diluted share in the first quarter of 2017.
Brian A. Kenney, president and chief executive officer of GATX, stated, “The condition of the North American railcar leasing market in the first quarter was consistent with our expectations entering the year. Rail industry carload data and operating metrics showed mixed performance relative to 2017, and 2018 improvement in the railcar leasing market remains uncertain due to the oversupply of existing railcars and the large railcar manufacturing backlog.
“GATX’s fleet utilization remained stable at 98.2% in the quarter due to outstanding execution by our commercial team. We continue to effectively deploy railcars and have currently placed new railcar deliveries with customers through the end of 2018. The renewal lease rate change of GATX’s Lease Price Index (“LPI”) was negative 11.6%, with an average renewal term of 34 months. While this LPI metric improved, we expected quarterly volatility in 2018, and we still anticipate the 2018 annual change to be at least negative 25% as market lease rates remain at low levels. The secondary railcar market was strong as evidenced by our remarketing income of $50.0 million for the quarter, which represents the majority of our expected remarketing activity for 2018.
“Rail International produced solid operating results, with GATX Rail Europe’s fleet utilization at 96.7%. The lease rate environment in Europe has stabilized and demand for new cars remains steady. American Steamship Company’s sailing season began at the end of March, and ten vessels are currently scheduled to operate in 2018. The Rolls-Royce and Partners Finance affiliates had another excellent quarter as demand for spare aircraft engines continues to be strong.”
Mr. Kenney concluded, “The year is progressing as we expected, and therefore at this time our 2018 full-year earnings estimate is unchanged at $4.55 - $4.75 per diluted share.”
RAIL NORTH AMERICA
Rail North America reported segment profit of $108.9 million in the first quarter of 2018, compared to $93.0 million in the first quarter of 2017. Higher gains on asset dispositions in the first quarter of 2018 were partially offset by lower lease revenue, resulting in higher segment profit in 2018.
At March 31, 2018, Rail North America’s wholly owned fleet comprised approximately 119,000 railcars, including approximately 16,200 boxcars. The following fleet statistics and performance discussion exclude the boxcar fleet.


The following information was filed by Gatx Corp (GATX) on Thursday, April 19, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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