GATX Third Quarter Profit Swells, Shipping Surges

GATX Third Quarter Profit Swells, Shipping Surges

GATX Corporation reported a profit of $53.8 million in the third quarter, ending Sept. 30, shooting up 63.5 percent year-over-year from $32.9 million.

Profit in the first nine months of 2012 was $107.6 million, up 35.86 percent from last year’s $79.2 million in the same period.

American Steamship Company, owned by the rail equipment provider, reported quarterly profit of $13.2 million, a 55.3 percent increase compared with last year’s $8.5 million in the third quarter. Year-to-date profit was $29.3 million, a 63.7 percent increase year-over-year from $17.9 million.

Quarterly rail profit was $63.5 million, and year-to-date profit was $171.7 million, both remaining relatively stable year-over-year with increases of less than 1 percent.