GATX’s Profit Jumped 24 Percent in 2012

GATX’s Profit Jumped 24 Percent in 2012

Railcar lessor GATX today reported income in the fourth quarter of 2012 of $29.7 million, down 6 percent from $31.6 million in the fourth quarter of 2011.

Profit for the full year of 2012 was $137.3 million, jumping 24 percent from $110.8 million in 2011.

Profit in the company’s North American segment was $59.8 million in the fourth quarter, increasing from $55.4 million in the fourth quarter of 2011. For the year, profit was $209.3 million, compared with $172.7 million in 2011.

“The North American rail market remains strong due to unprecedented demand for tank cars,” said Brian A. Kenney, president and CEO of GATX, in a written statement.

Income in the international segment was $10.5 million in the fourth quarter, compared with $6.7 million in the same quarter in 2011. In 2012, profit was $32.7 million, down from $60.7 million in 2011.

American Steamship Company, a subsidiary of GATX, reported profit of $8.2 million in the fourth quarter, dropping from $9.4 million in the same quarter in 2011, and $37.5 million for the year, compared with $27.3 million in 2011.