"Worst Market In 30 Years" - 400,000 Commodity Railcars Sit Idle Amid Industrial Recession [zero hedge]
GATX Corporation (GATX)
Last gatx corporation earnings: 1/23 08:30 am
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US:NYSE Investor Relations:
ir.gatx.com/phoenix.zhtml?c=70051&p=irol-irhome
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Source: zero hedge
"Worst Market In 30 Years" - 400,000 Commodity Railcars Sit Idle Amid Industrial Recession Wells Fargo, Citigroup, PNC Financial Service Group, and CIT Group accumulated hundreds of thousands of commodity hauling railcars in North America over the last decade. These banks believed railcars carrying coal, grain, and other commodities were going to be highly profitable but have recently turned out to be a major headache as many cars are now in storage because of new regulations and demand woes brought on by fluctuating commodity markets. David Nahass, president of Railroad Financial Corp., which provides advisory services to railroad firms, told The Wall Street Journal that "the industry is suffering, there are no two ways about it. Lease rates are down, and there's not a source of hope about when it will start to improve."The Journal, citing the Association of American Railroads (AAR), said about 400,000 railcars currently sit in storage with no use at all, and many are ban
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GATX
News
- Here's Why Investors Should Add GATX to Their Portfolio [Yahoo! Finance]Yahoo! Finance
- GATX Corporation: Strong Utilization Rates And Pricing Fuel New Gains [Seeking Alpha]Seeking Alpha
- GATX Corporation Announces Quarterly DividendBusiness Wire
- GATX Surpasses Q1 Earnings Estimates, Reaffirms 2024 EPS View [Yahoo! Finance]Yahoo! Finance
- GATX Corporation (NYSE:GATX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
GATX
Earnings
- 4/23/24 - Beat
GATX
Sec Filings
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- GATX's page on the SEC website