Form 8-K

8-K — GATX CORP

Accession: 0000040211-26-000051

Filed: 2026-05-07

Period: 2026-05-07

CIK: 0000040211

SIC: 4700 (TRANSPORTATION SERVICES)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — gatx-20260507.htm (Primary)

EX-99.1 (a1q26earningsreleaseex991.htm)

GRAPHIC — LOGO (image0a04a01a46a.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: gatx-20260507.htm · Sequence: 1

gatx-20260507

0000040211falseChicago Stock Exchange00000402112026-05-072026-05-070000040211exch:XNYS2026-05-072026-05-070000040211exch:XCHI2026-05-072026-05-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): May 7, 2026

GATX Corporation

(Exact name of registrant as specified in its charter)

New York 1-2328 36-1124040

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

233 South Wacker Drive

Chicago, Illinois 60606-7147

(Address of principal executive offices, including zip code)

(312) 621-6200

(Registrant’s telephone number, including area code)

__________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered

Common Stock GATX New York Stock Exchange

NYSE Texas, Inc

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

The following information is furnished pursuant to Item 2.02, "Results of Operations and Financial Condition" and Item 7.01, "Regulation FD Disclosure" and shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

On May 07, 2026, GATX Corporation ("GATX") issued a press release that included unaudited financial statements and supplemental financial information for the quarter ended March 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

GATX will host a teleconference to discuss its 2026 first-quarter financial results on May 07, 2026, beginning at 11 a.m. Eastern Time. Investors may access the conference by dialing 1-800-715-9871 (or 1-646-307-1963 if dialing from outside the United States).

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

Press Release of GATX Corporation, dated May 7, 2026, reporting GATX Corporation's results for the quarter ended March 31, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GATX CORPORATION

(Registrant)

/s/ Thomas A. Ellman

Thomas A. Ellman

Executive Vice President and Chief Financial Officer

May 07, 2026

EX-99.1

Filename: a1q26earningsreleaseex991.htm · Sequence: 2

Document

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

GATX CORPORATION REPORTS 2026 FIRST-QUARTER RESULTS

•First-quarter GAAP diluted earnings per share (EPS) of $2.35

•Rail North America's utilization for the combined fleet remains high at 98.1% at quarter end

•First-quarter Lease Price Index (LPI) of 22.3%

•Demand for aircraft spare engines remains strong

•Company reiterates 2026 full-year earnings guidance

CHICAGO, May 7, 2026—GATX Corporation (NYSE: GATX) today reported 2026 first-quarter net income attributable to GATX of $85.5 million, or $2.35 per diluted share, compared to net income attributable to GATX of $78.6 million, or $2.15 per diluted share, in the first quarter of 2025.

"Consistent with our expectations entering the year, our global businesses performed well in the first quarter," said

Robert C. Lyons, president and chief executive officer of GATX. "Integration of the Wells Fargo rail operating lease fleet is progressing well, positioning us to serve customers with an expanded portfolio supported by our operational and commercial expertise. Beginning this quarter, commercial metrics and fleet statistics for Rail North America reflect the combined legacy and newly acquired fleets, consistent with consolidation in our financial statements. At quarter end, Rail North America's fleet utilization remained high at 98.1%, and the first-quarter renewal success rate was 79.1%, reflecting stable demand for existing railcars. The renewal lease rate change of GATX’s Lease Price Index was 22.3% with an average renewal term of 56 months. Furthermore, we generated first-quarter gains on asset dispositions of approximately $50.0 million, reflecting continued strength in the secondary market and strong asset valuations.

"At GATX Rail Europe, fleet utilization remained steady at 94.7% in the first quarter. Our European team achieved increases in renewal lease rates compared to expiring rates across the majority of car types, despite macroeconomic pressures weighing on our customers' fleet planning activities. At GATX Rail India, demand for railcars remained solid, with fleet utilization at 100.0% at quarter end.

Page 2

"Within Engine Leasing, we continued to benefit from strong demand for aircraft spare engines, with solid performance across our engine portfolios in the first quarter. While we are closely monitoring developments related to the Middle East conflict and their implications for global air travel and airline financial performance, based on the resiliency the industry has demonstrated through various external events over many decades, we remain confident in the long-term strength of this business."

Mr. Lyons added, "First-quarter investment volume totaled more than $4.5 billion, including the acquisition of Wells Fargo’s rail operating lease portfolio for approximately $4.2 billion. During the quarter, we executed on attractive investment opportunities to acquire new and existing railcars across our global rail businesses."

Mr. Lyons concluded, “Our first quarter progressed largely as we anticipated. Our expanded portfolio of long‑lived assets, deep customer relationships across diverse end markets, and consistently strong cash flows position us well to navigate increased macro uncertainty. We will monitor our markets for impacts from the war in the Middle East, while continuing to execute on our disciplined growth strategy. Based on first-quarter results and our current outlook, we continue to expect 2026 full-year earnings to be $9.50–$10.10 per diluted share, excluding the impact of Tax Adjustments and Other Items.”

RAIL NORTH AMERICA

Rail North America reported segment profit of $103.9 million in the first quarter of 2026, compared to $88.8 million in the first quarter of 2025. Higher 2026 first-quarter segment profit was driven by higher lease revenue and higher gains on asset dispositions.

As of March 31, 2026, Rail North America’s fleet totaled approximately 206,100 cars, including 9,900 boxcars. The following fleet statistics and performance discussion exclude the boxcar fleet.

Fleet utilization was 98.1% at the end of the first quarter of 2026, compared to 99.0% at the end of the prior quarter and 99.2% at the end of the first quarter of 2025. At the time of the Wells Fargo acquisition, GATX Rail North American's fleet utilization was 99.0%, while Wells Fargo Rail's fleet utilization was 96.5%. Therefore, utilization of 98.1% is a byproduct of the fleet combination and consistent with expectations outlined at the beginning of this year.

During the first quarter of 2026, the renewal lease rate change of the GATX Lease Price Index (LPI) was 22.3%, compared to 21.9% in the prior quarter and 24.5% in the first quarter of 2025. The average lease renewal term for all cars included in the LPI during the first quarter of 2026 was 56 months, compared to 58 months in the prior quarter and 61 months in the first quarter of 2025. The 2026 first-quarter renewal success rate was 79.1%, compared to 91.4% in the prior quarter and 85.1% in the first quarter of 2025. Rail North America’s investment volume during the first quarter was approximately $4.5 billion, including the acquisition of Wells Fargo’s rail operating lease portfolio for approximately $4.2 billion.

Page 3

Additional fleet statistics, including information on the boxcar fleet, and macroeconomic data related to Rail North America’s business are provided in the attached Supplemental Information under Rail North America Statistics.

RAIL INTERNATIONAL

Rail International’s segment profit was $31.6 million in the first quarter of 2026, compared to $25.7 million in the first quarter of 2025. Higher 2026 first-quarter segment profit was driven by more railcars on lease, higher lease rates, and changes in foreign currency exchange rates.

As of March 31, 2026, GATX Rail Europe’s (GRE) fleet consisted of over 36,600 railcars. Fleet utilization was 94.7%, compared to 94.7% at the end of the prior quarter and 95.1% at the end of the first quarter of 2025.

As of March 31, 2026, Rail India's fleet consisted of approximately 12,500 railcars. Fleet utilization was 100.0%, compared to 100.0% at the end of the prior quarter and 99.6% at the end of the first quarter of 2025.

Additional fleet statistics for GRE and Rail India are provided on the last page of this press release.

ENGINE LEASING

Engine Leasing reported segment profit of $35.3 million in the first quarter of 2026, compared to segment profit of $38.6 million in the first quarter of 2025. Comparative results were driven primarily by the timing of remarketing income, which can vary materially from quarter to quarter. The Rolls-Royce and Partners Finance affiliates invested approximately $135.0 million in aircraft spare engines during the quarter, and the investment pipeline remains robust.

COMPANY DESCRIPTION

At GATX Corporation (NYSE:GATX), we empower our customers to propel the world forward. GATX leases transportation assets including railcars, aircraft spare engines and tank containers to customers worldwide. Our mission is to provide innovative, unparalleled service that enables our customers to transport what matters safely and sustainably while championing the well-being of our employees and communities. Headquartered in Chicago, Illinois since its founding in 1898, GATX has paid a quarterly dividend, uninterrupted, since 1919.

Page 4

TELECONFERENCE INFORMATION

GATX Corporation will host a teleconference to discuss its 2026 first-quarter results. Call details are as follows:

Thursday, May 7, 2026

11 a.m. Eastern Time

Domestic Dial-In: 1-800-715-9871

International Dial-In: 1-646-307-1963

Replay: 1-800-770-2030 (Domestic) or 1-609-800-9909 (International) / Access Code: 2050842

Call-in details, a copy of this press release and real-time audio access are available at www.gatx.com. Please access the call 15 minutes prior to the start time. A replay will be available on the same site starting at 2 p.m. (Eastern Time), May 7, 2026.

AVAILABILITY OF INFORMATION ON GATX'S WEBSITE

Investors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com under the “Investor Relations” tab.

Page 5

FORWARD-LOOKING STATEMENTS

Statements in this Earnings Release not based on historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and, accordingly, involve known and unknown risks and uncertainties that are difficult to predict and could cause our actual results, performance, or achievements to differ materially from those discussed. These include statements as to our future expectations, beliefs, plans, strategies, objectives, events, conditions, financial performance, prospects, or future events. In some cases, forward-looking statements can be identified by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “outlook,” “continue,” “likely,” “will,” “would”, and similar words and phrases. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the date they are made, and are not guarantees of future performance. We do not undertake any obligation to publicly update or revise these forward-looking statements, except to the extent required by applicable law.

The following factors, in addition to those discussed in our press releases and filings with the U.S. Securities and Exchange Commission, could cause actual results to differ materially from our current expectations expressed in forward-looking statements:

•a significant decline in customer demand for our transportation assets or services, including as a result of:

◦prolonged inflation or deflation

◦high interest rates

◦weak macroeconomic conditions and world trade policies

◦weak market conditions in our customers' businesses

◦adverse changes in the price of, or demand for, commodities

◦changes in railroad operations, efficiency, pricing and service offerings

◦changes in, or disruptions to, supply chains

◦availability of pipelines, trucks, and other alternative modes of transportation

◦changes in conditions affecting the aviation industry, including geopolitical tensions or conflicts (such as hostilities in the Middle East), geographic exposure, customer concentrations and energy costs

◦customers' desire to buy, rather than lease, our transportation assets

◦other operational or commercial needs or decisions of our customers

•reduced demand for our rail assets resulting from a change in pricing, service offerings, or operating conditions of North American railroads

•competitive factors in our primary markets

•threatened or implemented changes in tariffs or other global trade policies

•higher costs associated with increased assignments of our transportation assets following non-renewal of leases or a significant increase in compliance-based maintenance events

•events having an adverse impact on assets, customers, or regions where we have a concentrated investment exposure

•financial and operational risks associated with long-term purchase commitments for transportation assets

•reduced opportunities to generate asset remarketing income

•inability to successfully consummate and manage ongoing acquisition and divestiture activities, including the recent acquisition of the Wells Fargo fleet

•reliance on Rolls-Royce in connection with our aircraft spare engine leasing businesses

•U.S. and global political conditions and the impact of increased geopolitical tension, civil unrest and armed conflict, including the war with Iran, on domestic and global economic conditions

•potential obsolescence of our assets

•risks related to our international operations and expansion into new geographic markets, including laws, regulations, tariffs, taxes, treaties or trade barriers affecting our activities in the countries where we do business

•failure to successfully negotiate collective bargaining agreements with the unions representing a substantial portion of our employees

•inability to attract, retain, and motivate qualified personnel, including key management personnel

•inability to protect our information technology from cybersecurity threats

•risks posed by artificial intelligence

•exposure to damages, fines, criminal and civil penalties, and reputational harm arising from a negative outcome in litigation, including claims arising from an accident involving transportation assets

•changes in, or failure to comply with, laws, rules, and regulations

•environmental liabilities and remediation costs

•operational, functional and regulatory risks associated with climate change, severe weather events, and other environmental concerns

•risks associated with sustainability concerns

•prolonged inflation or deflation or interest rate increases

•deterioration of conditions in the capital markets, reductions in our credit ratings, or increases in our financing costs

•fluctuations in foreign exchange rates

•inability to obtain cost-effective insurance

•changes in assumptions, increases in funding requirements or investment losses in our pension and post-retirement plans

•inadequate allowances to cover credit losses in our portfolio

•asset impairment charges we may be required to recognize

•inability to maintain effective internal control over financial reporting and disclosure controls and procedures

•risks of a widespread health crisis

Page 6

FOR FURTHER INFORMATION CONTACT:

GATX Corporation

Shari Hellerman

Vice President, Investor Relations and Corporate Communications

312-621-4285

shari.hellerman@gatx.com

(05/07/2026)

Page 7

GATX CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In millions, except per share data)

Three Months Ended

March 31

2026 2025

Revenues

Lease revenue

$ 518.7 $ 359.6

Non-dedicated engine revenue

22.1 21.5

Other revenue

42.9 40.5

Total Revenues

583.7 421.6

Expenses

Maintenance expense

140.7 103.5

Depreciation expense

169.2 103.6

Operating lease expense

7.4 7.6

Other operating expense

21.8 16.0

Selling, general and administrative expense

71.3 56.6

Total Expenses

410.4 287.3

Other Income (Expense)

Net gain on asset dispositions

51.0 33.4

Interest expense, net

(151.0) (94.9)

Other income (expense)

6.2 (2.7)

Income before Income Taxes and Share of Affiliates’ Earnings

79.5 70.1

Income taxes

(21.2) (16.6)

Share of affiliates’ earnings, net of taxes

20.8 25.1

Net Income

79.1 78.6

Less: Net Loss Attributable to Non-Controlling Interest (6.4) —

Net Income Attributable to GATX $ 85.5 $ 78.6

Share Data

Basic earnings per share

$ 2.35 $ 2.15

Average number of common shares

35.7 35.9

Diluted earnings per share

$ 2.35 $ 2.15

Average number of common shares and common share equivalents

35.8 36.0

Dividends declared per common share

$ 0.66 $ 0.61

Page 8

GATX CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In millions)

March 31 December 31

2026 2025

Assets

Cash and Cash Equivalents

$ 740.9 $ 743.0

Restricted Cash

0.1 4,241.9

Receivables

Rent and other receivables

162.7 109.0

Finance leases (as lessor)

192.2 104.2

Less: allowance for losses

(6.1) (6.0)

348.8 207.2

Operating Assets and Facilities

19,780.9 15,662.6

Less: allowance for depreciation

(4,328.3) (4,251.7)

15,452.6 11,410.9

Lease Assets (as lessee)

Right-of-use assets, net of accumulated depreciation

134.7 137.4

Investments in Affiliated Companies

752.4 732.3

Goodwill

124.6 126.3

Other Assets

390.1 400.5

Total Assets

$ 17,944.2 $ 17,999.5

Liabilities and Equity

Accounts Payable and Accrued Expenses

$ 278.7 $ 318.4

Debt

Borrowings under bank credit facilities

49.7 82.2

Recourse debt

12,427.3 12,451.7

12,477.0 12,533.9

Lease Obligations (as lessee)

Operating leases

150.9 154.3

Deferred Income Taxes

1,215.6 1,195.7

Other Liabilities

165.8 162.1

Total Liabilities

14,288.0 14,364.4

Total GATX Shareholders’ Equity

2,778.1 2,750.5

Non-Controlling Interest

878.1 884.6

Total Equity

3,656.2 3,635.1

Total Liabilities and Equity

$ 17,944.2 $ 17,999.5

Page 9

GATX CORPORATION AND SUBSIDIARIES

SEGMENT DATA (UNAUDITED)

Three Months Ended March 31, 2026

(In millions)

Rail North America

Rail International Engine Leasing Other GATX Consolidated

Revenues

Lease revenue

$ 400.7 $ 100.4 $ 9.5 $ 8.1 $ 518.7

Non-dedicated engine revenue

— — 22.1 — 22.1

Other revenue

36.0 4.8 — 2.1 42.9

Total Revenues

436.7 105.2 31.6 10.2 583.7

Expenses

Maintenance expense

120.6 19.1 — 1.0 140.7

Depreciation expense

126.7 27.8 10.6 4.1 169.2

Operating lease expense

7.4 — — — 7.4

Other operating expense

13.1 5.3 3.1 0.3 21.8

Total Expenses

267.8 52.2 13.7 5.4 339.1

Other Income (Expense)

Net gain on asset dispositions

49.8 1.1 — 0.1 51.0

Interest (expense) income, net

(114.0) (25.0) (13.3) 1.3 (151.0)

Other (expense) income

(0.8) 2.5 3.1 1.4 6.2

Share of affiliates' pre-tax earnings

— — 27.6 — 27.6

Segment Profit

$ 103.9 $ 31.6 $ 35.3 $ 7.6 $ 178.4

Less:

Selling, general and administrative expense

71.3

Income taxes (includes $6.8 related to affiliates' earnings)

28.0

Net Income

79.1

Less: Net Loss Attributable to Non-Controlling Interest (6.4)

Net Income Attributable to GATX $ 85.5

Selected Data:

Investment volume

$ 4,464.2 $ 47.4 $ 0.2 $ 8.2 $ 4,520.0

Net Gain on Asset Dispositions

Asset Remarketing Income:

Net gains on disposition of owned assets

$ 44.0 $ — $ — $ 0.1 $ 44.1

Residual sharing income

0.1 — — — 0.1

Non-remarketing net gains (1)

7.4 1.1 — — 8.5

Asset impairments

(1.7) — — — (1.7)

$ 49.8 $ 1.1 $ — $ 0.1 $ 51.0

_________

(1) Includes net gains from scrapping of railcars.

Page 10

GATX CORPORATION AND SUBSIDIARIES

SEGMENT DATA (UNAUDITED)

Three Months Ended March 31, 2025

(In millions)

Rail North America

Rail International Engine Leasing Other GATX Consolidated

Revenues

Lease revenue

$ 260.0 $ 83.6 $ 8.1 $ 7.9 $ 359.6

Non-dedicated engine revenue

— — 21.5 — 21.5

Other revenue

33.3 4.9 — 2.3 40.5

Total Revenues

293.3 88.5 29.6 10.2 421.6

Expenses

Maintenance expense

83.7 18.5 — 1.3 103.5

Depreciation expense

70.4 20.1 9.4 3.7 103.6

Operating lease expense

7.6 — — — 7.6

Other operating expense

7.5 4.6 2.8 1.1 16.0

Total Expenses

169.2 43.2 12.2 6.1 230.7

Other Income (Expense)

Net gain on asset dispositions

32.1 1.3 — — 33.4

Interest (expense) income, net

(64.7) (19.1) (12.2) 1.1 (94.9)

Other (expense) income

(2.7) (1.8) — 1.8 (2.7)

Share of affiliates' pre-tax earnings

— — 33.4 — 33.4

Segment Profit

$ 88.8 $ 25.7 $ 38.6 $ 7.0 $ 160.1

Less:

Selling, general and administrative expense 56.6

Income taxes (includes $8.3 related to affiliates' earnings)

24.9

Net Income

78.6

Less: Net Income Attributable to Non-Controlling Interest —

Net Income Attributable to GATX $ 78.6

Selected Data:

Investment volume $ 227.7 $ 62.7 $ — $ 5.9 $ 296.3

Net Gain on Asset Dispositions

Asset Remarketing Income:

Net gains on disposition of owned assets $ 30.5 $ 0.6 $ — $ — $ 31.1

Residual sharing income 0.1 — — — 0.1

Non-remarketing net gains (1) 5.1 0.7 — — 5.8

Asset impairments (3.6) — — — (3.6)

$ 32.1 $ 1.3 $ — $ — $ 33.4

__________

(1) Includes net gains from scrapping of railcars.

Page 11

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(In millions, except leverage)

3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Total Assets, Excluding Cash, by Segment

Rail North America $ 12,242.6 $ 7,969.0 $ 7,865.3 $ 7,886.8 $ 7,888.3

Rail International 2,738.0 2,825.1 2,522.9 2,514.9 2,304.3

Engine Leasing 1,805.3 1,786.9 1,805.9 1,626.5 1,619.8

Other 417.3 433.6 415.3 416.8 396.3

Total Assets, excluding cash $ 17,203.2 $ 13,014.6 $ 12,609.4 $ 12,445.0 $ 12,208.7

Debt and Lease Obligations, Net of Unrestricted Cash

Unrestricted cash $ (740.9) $ (743.0) $ (696.1) $ (754.6) $ (757.2)

Borrowings under bank credit facilities 49.7 82.2 117.3 106.1 101.5

Recourse debt 12,427.3 12,451.7 8,751.3 8,741.3 8,653.1

Operating lease obligations 150.9 154.3 160.7 168.4 174.4

Total debt and lease obligations, net of unrestricted cash $ 11,887.0 $ 11,945.2 $ 8,333.2 $ 8,261.2 $ 8,171.8

Total recourse debt (1) $ 11,887.0 $ 11,945.2 $ 8,333.2 $ 8,261.2 $ 8,171.8

Total equity $ 3,656.2 $ 3,635.1 $ 2,718.9 $ 2,669.7 $ 2,549.4

Recourse Leverage (2) 3.3 3.3 3.1 3.1 3.2

_________

(1) Includes recourse debt, borrowings under bank credit facilities, and operating lease obligations, net of unrestricted cash.

(2) Calculated as total recourse debt / total equity.

Reconciliation of Total Assets to Total Assets, Excluding Cash

Total Assets $ 17,944.2 $ 17,999.5 $ 13,305.8 $ 13,200.2 $ 12,966.3

Less: cash (741.0) (4,984.9) (696.4) (755.2) (757.6)

Total Assets, excluding cash $ 17,203.2 $ 13,014.6 $ 12,609.4 $ 12,445.0 $ 12,208.7

Page 12

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(Continued)

3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Rail North America Statistics

Lease Price Index (LPI) (1)

Average renewal lease rate change 22.3 % 21.9 % 22.8 % 24.2 % 24.5 %

Average renewal term (months) 56 58 60 60 61

Renewal Success Rate (2) 79.1 % 91.4 % 87.1 % 84.2 % 85.1 %

Fleet Rollforward (3)

Beginning balance 100,593 101,288 102,317 103,310 102,966

Railcars added 98,535 920 366 595 1,464

Railcars scrapped (1,355) (898) (478) (614) (316)

Railcars sold (1,540) (717) (917) (974) (804)

Ending balance 196,233 100,593 101,288 102,317 103,310

Utilization 98.1 % 99.0 % 98.9 % 99.2 % 99.2 %

Average active railcars 193,195 99,999 100,896 102,073 102,367

Boxcar Fleet Rollforward

Beginning balance 7,032 7,478 7,621 7,990 8,395

Railcars added 3,411 1 172 27 —

Railcars scrapped (266) (365) (285) (396) (405)

Railcars sold (289) (82) (30) — —

Ending balance 9,888 7,032 7,478 7,621 7,990

Utilization 97.6 % 97.1 % 96.9 % 98.7 % 99.8 %

Average active railcars 9,895 7,206 7,391 7,773 8,163

Rail North America Industry Statistics

Manufacturing Capacity Utilization Index (4) 75.7 % 75.7 % 76.1 % 77.8 % 77.6 %

Year-over-year Change in U.S. Carloadings (excl. intermodal) (5) 4.2 % 1.5 % 2.1 % 2.4 % 0.1 %

Year-over-year Change in U.S. Carloadings (chemical) (5) 3.8 % 0.8 % 1.5 % 1.6 % 2.0 %

Year-over-year Change in U.S. Carloadings (petroleum) (5) 7.3 % (1.6) % (1.2) % (0.9) % 1.9 %

Production Backlog at Railcar Manufacturers (6) 23,128 23,431 25,687 29,871 31,548

_________

(1) GATX's Lease Price Index (LPI) is an internally-generated business indicator that measures renewal activity for our North American railcar fleet, excluding boxcars. The LPI calculation includes all renewal activity based on a 12-month trailing average, and the renewals are weighted by the count of all renewals over the 12-month period. The average renewal lease rate change is reported as the percentage change between the average renewal lease rate and the average expiring lease rate. The average renewal lease term is reported in months and reflects the average renewal lease term in the LPI.

(2) The renewal success rate represents the percentage of railcars on expiring leases that were renewed with the existing lessee. The renewal success rate is an important metric because railcars returned by our customers may remain idle or incur additional maintenance and freight costs prior to being leased to new customers.

(3) Excludes boxcar fleet.

(4) As reported and revised by the Federal Reserve.

(5) As reported by the Association of American Railroads (AAR).

(6) As reported by the Railway Supply Institute (RSI).

Page 13

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(Continued)

3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025

Rail Europe Statistics

Fleet Rollforward

Beginning balance 36,484 30,572 30,492 30,223 30,027

Railcars added 355 6,145 328 579 446

Railcars scrapped or sold (188) (233) (248) (310) (250)

Ending balance 36,651 36,484 30,572 30,492 30,223

Utilization 94.7 % 94.7 % 93.7 % 93.3 % 95.1 %

Average active railcars 34,588 32,671 28,592 28,572 28,823

Rail India Statistics

Fleet Rollforward

Beginning balance 12,165 11,712 11,112 10,895 10,583

Railcars added 343 453 600 217 312

Ending balance 12,508 12,165 11,712 11,112 10,895

Utilization 100.0 % 100.0 % 100.0 % 99.6 % 99.6 %

Average active railcars 12,275 11,905 11,363 10,945 10,711

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