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Exhibit 99.1
NEWS RELEASE 
image0a04a01a46.jpg
 
FOR IMMEDIATE RELEASE
GATX CORPORATION REPORTS 2020 SECOND-QUARTER RESULTS
Net income from continuing operations for the second quarter 2020 was $37.0 million or $1.05 per diluted share
Rail North America’s fleet utilization remained high at 98.7%

CHICAGO, July 21, 2020 - GATX Corporation (NYSE: GATX) today reported 2020 second-quarter results. In the second quarter of 2020, GATX completed the sale of American Steamship Company. As a result, this segment is
reported as discontinued operations and prior periods have been recast to conform to the current presentation. Results for the second quarter and six months ending June 30 are summarized below:

 
Three Months Ended
June 30
 
Six Months Ended
June 30
Per Diluted Share
2020
 
2019
 
2020
 
2019
Income from Continuing Operations
$
1.05

 
$
1.65

 
$
2.38

 
$
2.75

Income from Discontinued Operations
0.06

 
0.21

 
0.04

 
0.22

Total
$
1.11

 
$
1.86

 
$
2.42

 
$
2.97


2020 second quarter net income from continuing operations was $37.0 million or $1.05 per diluted share, compared to net income from continuing operations of $60.3 million or $1.65 per diluted share in the second quarter of 2019. Net income from continuing operations for the first six months of 2020 was $84.2 million or $2.38 per diluted share, compared to $101.5 million or $2.75 per diluted share in the prior year period. The 2019 second quarter and year-to-date results include a net deferred tax benefit of $2.8 million or $0.08 per diluted share related to an enacted foreign tax rate reduction. Details related to these items are provided in the attached Supplemental Information under Tax Adjustments and Other Items.

Net income from discontinued operations in the second quarter of 2020 was $2.3 million or $0.06 per diluted share, compared to $7.7 million or $0.21 per diluted share in the same period of 2019. Year to date, net income from discontinued operations was $1.4 million or $0.04 per diluted share, compared to $8.0 million or $0.22 per diluted share in the prior year period.

“In the second quarter, COVID-19 and its effect on the global economy negatively impacted all of our business segments,” said Brian A. Kenney, president and chief executive officer of GATX. “Despite the difficult business conditions, our Rail North America team continued to effectively deploy railcars on lease and displace competitors,


The following information was filed by Gatx Corp (GATX) on Tuesday, July 21, 2020 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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