Form 8-K

8-K — GATX CORP

Accession: 0000040211-26-000091

Filed: 2026-10-29

Period: 2026-10-29

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-20261029.htm (Primary)

EX-99.1 (a3q26earningsreleaseex991.htm)

GRAPHIC — LOGO (image0a04a01a46.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: gatx-20261029.htm · Sequence: 1

gatx-20261029

0000040211falseNYSE00000402112026-10-292026-10-290000040211exch:XNYS2026-10-292026-10-290000040211exch:XCHI2026-10-292026-10-29

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): October 29, 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 October 29, 2026, GATX Corporation ("GATX") issued a press release that included unaudited financial statements and supplemental financial information for the quarter ended September 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

GATX will host a teleconference to discuss its 2026 third-quarter financial results on October 29, 2026, beginning at 11 a.m. Eastern Time. Investors may access the conference by dialing 1-833-461-5787 (or 1-585-542-9983 if dialing from outside the United States) access code 354 489 716.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1

Press Release of GATX Corporation, dated October 29, 2026, reporting GATX Corporation's results for the quarter ended September 30, 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

October 29, 2026

EX-99.1

Filename: a3q26earningsreleaseex991.htm · Sequence: 2

Document

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

GATX CORPORATION REPORTS 2026 THIRD-QUARTER RESULTS

•Third-quarter diluted earnings per share increased to $2.92 from $2.25 in the prior-year period

•Company expects 2026 full-year earnings to modestly exceed the high end of its previously announced guidance range

•Rail North America fleet utilization increased to 98.4% at quarter end

•Demand for aircraft spare engines remains strong

•Investment volume was $171.7 million in the third quarter and totaled over $4.8 billion year to date

CHICAGO, Oct. 29, 2026—GATX Corporation (NYSE: GATX) today reported 2026 third-quarter net income attributable to GATX of $105.2 million, or $2.92 per diluted share, compared to net income attributable to GATX of $82.2 million, or $2.25 per diluted share, in the third quarter of 2025. Net income attributable to GATX for the first nine months of 2026 was $294.1 million, or $8.11 per diluted share, compared to $236.3 million, or $6.46 per diluted share, in the prior year period.

The 2025 third-quarter and year-to-date results include a net positive impact of $5.3 million, or $0.15 per diluted share, from Tax Adjustments and Other Items. Details related to these items are provided in the attached Supplemental Information under Tax Adjustments and Other Items.

"We delivered another quarter of outstanding performance, supported by favorable leasing fundamentals and strong execution," said Robert C. Lyons, president and chief executive officer of GATX. "The overall dynamics for railcar leasing in North America remain positive. Rail traffic is stable or modestly growing for most commodities, attrition in the industry railcar fleet continues, and the supply of new railcars is limited. This drives favorable leasing dynamics, evidenced by our high renewal success rate (86.1%), solid LPI (12.4%), and increased fleet utilization (98.4%). On top of this, the demand for railcars in the secondary market is extremely strong, underscoring the attractive value of our existing fleet. Net gains on asset dispositions were $50.3 million in the quarter and $167.8 million year-to-date.

"GATX Rail Europe's fleet utilization improved to 96.1% at quarter end, and we achieved renewal rate increases across many car types. While economic uncertainty continues across the region, the future of rail transport is positive, and we are well positioned to capitalize on the strength of our existing platform and growth opportunities. In India, demand for railcars remains robust, supported by continued infrastructure investment and economic growth, and GATX Rail India’s fleet

Page 2

remained fully utilized. During the quarter, we stayed focused on selectively growing and diversifying our international fleets through disciplined investments."

Mr. Lyons added, "At Engine Leasing, our Rolls-Royce and Partners Finance affiliates ("RRPF") and wholly owned engine portfolio delivered solid results. RRPF continues to invest in attractive opportunities, with investment volume approaching $1.0 billion year to date. Engine demand remains robust and global air travel is at healthy levels. While we continue to monitor geopolitical developments and broader industry conditions, we remain confident in the long-term outlook for the business."

Mr. Lyons concluded, "Based on year-to-date performance and our outlook for the remainder of the year, we now expect our 2026 full-year earnings to modestly exceed the high end of our previously announced guidance range of $9.90 to $10.30 per diluted share. Our outlook reflects positive dynamics and strong execution across our global businesses, benefits from the acquisition of Wells Fargo's rail assets and related portfolio management activities, and strong performance at Engine Leasing. This guidance excludes any impact from Tax Adjustments and Other Items."

RAIL NORTH AMERICA

Rail North America reported segment profit of $121.3 million in the third quarter of 2026, compared to $70.7 million in the third quarter of 2025. Year to date 2026, Rail North America reported segment profit of $343.7 million, compared to $256.1 million in the same period of 2025. Higher 2026 third-quarter and year-to-date results were driven by higher lease revenues, increased management fee revenue from the Brookfield-owned finance lease portfolio, and higher net gains on asset dispositions, partly offset by higher interest, depreciation and maintenance expenses.

As of Sept. 30, 2026, Rail North America’s fleet totaled approximately 199,100 cars, including approximately 9,000 boxcars. The following fleet statistics and performance discussion exclude the boxcar fleet.

Fleet utilization was 98.4% at the end of the third quarter of 2026, compared to 98.0% at the end of the prior quarter, and 98.9% at the end of the third quarter of 2025. During the third quarter of 2026, the renewal lease rate change of the Lease Price Index (LPI) was positive 12.4%, compared to 16.8% in the prior quarter and 22.8% in the third quarter of 2025. The average lease renewal term for all cars included in the LPI during the third quarter of 2026 was 52 months, compared to 54 months in the prior quarter and 60 months in the third quarter of 2025. The 2026 third-quarter renewal success rate was 86.1%, compared to 82.6% in the prior quarter and 87.1% in the third quarter of 2025. Rail North America’s investment volume during the third quarter of 2026 was $109.3 million.

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.

Page 3

RAIL INTERNATIONAL

Rail International’s segment profit was $35.9 million in the third quarter of 2026, compared to $34.4 million in the third quarter of 2025. Year to date 2026, Rail International reported segment profit of $99.1 million, compared to $92.3 million in the same period of 2025. Higher 2026 third-quarter segment profit was driven primarily by more railcars on lease, while year-to-date segment profit was driven primarily by more railcars on lease and changes in foreign currency exchange rates.

As of Sept. 30, 2026, GATX Rail Europe’s (GRE) fleet consisted of approximately 36,700 cars. Fleet utilization was 96.1%, compared to 95.3% at the end of the prior quarter and 93.7% at the end of the third quarter of 2025.

As of Sept. 30, 2026, Rail India's fleet consisted of over 12,900 railcars. Fleet utilization was 100.0%, similar to the end of the prior quarter and the end of the third quarter of 2025.

Rail International’s investment volume during the third quarter of 2026 was $49.3 million.

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 $51.4 million in the third quarter of 2026, compared to segment profit of $60.4 million in the third quarter of 2025. Year to date 2026, segment profit was $153.1 million, compared to segment profit of $126.3 million in the same period of 2025.

2025 third-quarter and year-to-date results include a net positive impact of $10.9 million ($8.2 million after tax) from Tax Adjustments and Other Items. Additional details are provided in the attached Supplemental Information under Tax Adjustments and Other Items.

Excluding these impacts, 2026 third-quarter and year-to-date results exceeded the prior-year periods, driven primarily by higher operating and remarketing income at RRPF. Year-to-date results also benefited from a larger wholly owned aircraft spare engine portfolio.

As of Sept. 30, 2026, RRPF's portfolio, 50% of which is owned by GATX, consisted of 475 aircraft engines.

As of Sept. 30, 2026, GATX Engine Leasing, the Company’s wholly owned engine portfolio, consisted of 46 aircraft engines.

Page 4

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 5

TELECONFERENCE INFORMATION

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

Thursday, October 29, 2026

11 a.m. Eastern Time

Domestic Dial-In: 1-833-461-5787

International Dial-In: 1-585-542-9983

Access Code: 354 489 716

Replay: The replay will be available at www.gatx.com

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) on October 29, 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 6

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, 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 7

FOR FURTHER INFORMATION CONTACT:

GATX Corporation

Shari Hellerman

Vice President, Investor Relations and Corporate Communications

312-621-4285

shari.hellerman@gatx.com

(10/29/2026)

Page 8

GATX CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In millions, except per share data)

Three Months Ended

September 30 Nine Months Ended

September 30

2026 2025 2026 2025

Revenues

Lease revenue

$ 514.2 $ 377.1 $ 1,541.3 $ 1,105.5

Non-dedicated engine revenue

22.1 22.5 64.8 64.5

Other revenue

61.7 39.7 155.7 121.4

Total Revenues

598.0 439.3 1,761.8 1,291.4

Expenses

Maintenance expense

143.7 112.5 436.2 320.5

Depreciation expense

165.7 109.5 501.4 320.0

Operating lease expense

6.0 7.1 20.8 21.8

Other operating expense

25.7 16.8 72.3 49.3

Selling, general and administrative expense

64.5 66.2 205.0 181.0

Total Expenses

405.6 312.1 1,235.7 892.6

Other Income (Expense)

Net gain on asset dispositions

51.7 23.1 172.4 97.0

Interest expense, net

(143.7) (98.2) (437.7) (289.3)

Other income

0.6 6.5 19.5 2.7

Income before Income Taxes and Share of Affiliates’ Earnings

101.0 58.6 280.3 209.2

Income taxes

(26.7) (16.4) (73.9) (54.0)

Share of affiliates’ earnings, net of taxes

32.9 40.0 90.9 81.1

Net Income

107.2 82.2 297.3 236.3

Less: Net Income Attributable to Non-Controlling Interest 2.0 — 3.2 —

Net Income Attributable to GATX $ 105.2 $ 82.2 $ 294.1 $ 236.3

GATX Share Data

Basic earnings per share

$ 2.93 $ 2.25 $ 8.13 $ 6.47

Average number of common shares

35.3 35.9 35.5 35.9

Diluted earnings per share

$ 2.92 $ 2.25 $ 8.11 $ 6.46

Average number of common shares and common share equivalents

35.4 36.0 35.6 36.0

Dividends declared per common share

$ 0.66 $ 0.61 $ 1.98 $ 1.83

Page 9

GATX CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(In millions)

September 30 December 31

2026 2025

Assets

Cash and Cash Equivalents

$ 390.0 $ 743.0

Restricted Cash

0.2 4,241.9

Receivables

Rent and other receivables

145.1 109.0

Finance leases (as lessor)

178.0 104.2

Less: allowance for losses

(5.9) (6.0)

317.2 207.2

Operating Assets and Facilities

19,679.7 15,662.6

Less: allowance for depreciation

(4,537.2) (4,251.7)

15,142.5 11,410.9

Lease Assets (as lessee)

Right-of-use assets, net of accumulated depreciation

115.4 137.4

Investments in Affiliated Companies

754.1 732.3

Goodwill

122.6 126.3

Other Assets

445.4 400.5

Total Assets

$ 17,287.4 $ 17,999.5

Liabilities and Equity

Accounts Payable and Accrued Expenses

$ 297.8 $ 318.4

Debt

Borrowings under bank credit facilities

34.6 82.2

Recourse debt

11,904.0 12,451.7

11,938.6 12,533.9

Lease Obligations (as lessee)

Operating leases

131.4 154.3

Deferred Income Taxes

1,252.1 1,195.7

Other Liabilities

129.1 162.1

Total Liabilities

13,749.0 14,364.4

Total GATX Shareholders’ Equity

2,784.8 2,750.5

Non-Controlling Interest

753.6 884.6

Total Equity

3,538.4 3,635.1

Total Liabilities and Equity

$ 17,287.4 $ 17,999.5

Page 10

GATX CORPORATION AND SUBSIDIARIES

SEGMENT DATA (UNAUDITED)

Three Months Ended September 30, 2026

(In millions)

Rail North America

Rail International Engine Leasing Other GATX Consolidated

Revenues

Lease revenue

$ 394.2 $ 102.5 $ 8.9 $ 8.6 $ 514.2

Non-dedicated engine revenue

— — 22.1 — 22.1

Other revenue

53.8 6.0 — 1.9 61.7

Total Revenues

448.0 108.5 31.0 10.5 598.0

Expenses

Maintenance expense

124.6 18.1 — 1.0 143.7

Depreciation expense

123.3 27.7 10.6 4.1 165.7

Operating lease expense

6.0 — — — 6.0

Other operating expense

16.5 5.2 3.1 0.9 25.7

Total Expenses

270.4 51.0 13.7 6.0 341.1

Other Income (Expense)

Net gain on asset dispositions

50.3 1.3 — 0.1 51.7

Interest expense, net

(104.7) (24.0) (12.1) (2.9) (143.7)

Other (expense) income

(1.9) 1.1 0.1 1.3 0.6

Share of affiliates' pre-tax earnings

— — 46.1 — 46.1

Segment Profit

$ 121.3 $ 35.9 $ 51.4 $ 3.0 $ 211.6

Less:

Selling, general and administrative expense

64.5

Income taxes (includes $13.2 related to affiliates' earnings)

39.9

Net Income

107.2

Less: Net Income Attributable to Non-Controlling Interest 2.0

Net Income Attributable to GATX $ 105.2

Selected Data:

Investment volume

$ 109.3 $ 49.3 $ — $ 13.1 $ 171.7

Net Gain on Asset Dispositions

Asset Remarketing Income:

Net gains on disposition of owned assets

$ 46.1 $ 0.6 $ — $ 0.1 $ 46.8

Residual sharing income

0.1 — — — 0.1

Non-remarketing net gains (1)

4.8 0.7 — — 5.5

Asset impairments

(0.7) — — — (0.7)

$ 50.3 $ 1.3 $ — $ 0.1 $ 51.7

_________

(1) Includes net gains from scrapping of railcars.

Page 11

GATX CORPORATION AND SUBSIDIARIES

SEGMENT DATA (UNAUDITED)

Three Months Ended September 30, 2025

(In millions)

Rail North America

Rail International Engine Leasing Other GATX Consolidated

Revenues

Lease revenue

$ 264.1 $ 94.2 $ 10.4 $ 8.4 $ 377.1

Non-dedicated engine revenue

— — 22.5 — 22.5

Other revenue

32.4 5.2 — 2.1 39.7

Total Revenues

296.5 99.4 32.9 10.5 439.3

Expenses

Maintenance expense

93.1 18.1 — 1.3 112.5

Depreciation expense

72.1 23.0 10.3 4.1 109.5

Operating lease expense

7.1 — — — 7.1

Other operating expense

8.2 4.8 2.9 0.9 16.8

Total Expenses

180.5 45.9 13.2 6.3 245.9

Other Income (Expense)

Net gain on asset dispositions

21.3 1.8 — — 23.1

Interest (expense) income, net

(64.9) (20.7) (12.7) 0.1 (98.2)

Other (expense) income

(1.6) (0.2) — 8.3 6.5

Share of affiliates' pre-tax (losses) earnings

(0.1) — 53.4 — 53.3

Segment Profit

$ 70.7 $ 34.4 $ 60.4 $ 12.6 $ 178.1

Less:

Selling, general and administrative expense 66.2

Income taxes (includes $13.3 related to affiliates' earnings)

29.7

Net Income

82.2

Less: Net Income Attributable to Non-Controlling Interest —

Net Income Attributable to GATX $ 82.2

Selected Data:

Investment volume $ 142.6 $ 66.1 $ 147.1 $ 5.9 $ 361.7

Net Gain on Asset Dispositions

Asset Remarketing Income:

Net gains on disposition of owned assets $ 16.4 $ 0.8 $ — $ — $ 17.2

Residual sharing income 0.1 — — — 0.1

Non-remarketing net gains (1) 4.8 1.0 — — 5.8

$ 21.3 $ 1.8 $ — $ — $ 23.1

__________

(1) Includes net gains from scrapping of railcars.

Page 12

GATX CORPORATION AND SUBSIDIARIES

SEGMENT DATA (UNAUDITED)

Nine Months Ended September 30, 2026

(In millions)

Rail North America

Rail International Engine Leasing Other GATX Consolidated

Revenues

Lease revenue

$ 1,185.9 $ 303.2 $ 27.2 $ 25.0 $ 1,541.3

Non-dedicated engine revenue

— — 64.8 — 64.8

Other revenue

133.8 16.1 — 5.8 155.7

Total Revenues

1,319.7 319.3 92.0 30.8 1,761.8

Expenses

Maintenance expense

377.0 56.4 — 2.8 436.2

Depreciation expense

374.0 83.4 31.8 12.2 501.4

Operating lease expense

20.8 — — — 20.8

Other operating expense

45.4 15.4 9.2 2.3 72.3

Total Expenses

817.2 155.2 41.0 17.3 1,030.7

Other Income (Expense)

Net gain on asset dispositions

167.8 4.4 — 0.2 172.4

Interest expense, net

(322.4) (72.9) (38.1) (4.3) (437.7)

Other (expense) income

(4.2) 3.5 16.9 3.3 19.5

Share of affiliates' pre-tax earnings

— — 123.3 — 123.3

Segment Profit

$ 343.7 $ 99.1 $ 153.1 $ 12.7 $ 608.6

Less:

Selling, general and administrative expense

205.0

Income taxes (includes $32.4 related to affiliates' earnings)

106.3

Net Income

297.3

Less: Net Income Attributable to Non-Controlling Interest 3.2

Net Income Attributable to GATX $ 294.1

Selected Data:

Investment volume

$ 4,720.6 $ 142.3 $ 0.2 $ 29.1 $ 4,892.2

Net Gain on Asset Dispositions

Asset Remarketing Income:

Net gains on disposition of owned assets

$ 148.4 $ 1.4 $ — $ 0.2 $ 150.0

Residual sharing income

0.3 — — — 0.3

Non-remarketing net gains (1)

21.5 3.0 — — 24.5

Asset impairments

(2.4) — — — (2.4)

$ 167.8 $ 4.4 $ — $ 0.2 $ 172.4

_________

(1) Includes net gains from scrapping of railcars.

Page 13

GATX CORPORATION AND SUBSIDIARIES

SEGMENT DATA (UNAUDITED)

Nine Months Ended September 30, 2025

(In millions)

Rail North America

Rail International Engine Leasing Other GATX Consolidated

Revenues

Lease revenue

$ 786.9 $ 267.4 $ 26.6 $ 24.6 $ 1,105.5

Non-dedicated engine revenue

— — 64.5 — 64.5

Other revenue

98.6 16.3 — 6.5 121.4

Total Revenues

885.5 283.7 91.1 31.1 1,291.4

Expenses

Maintenance expense

261.1 55.5 — 3.9 320.5

Depreciation expense

214.2 64.8 29.2 11.8 320.0

Operating lease expense

21.8 — — — 21.8

Other operating expense

23.5 14.3 8.6 2.9 49.3

Total Expenses

520.6 134.6 37.8 18.6 711.6

Other Income (Expense)

Net gain on asset dispositions

92.5 4.5 — — 97.0

Interest (expense) income, net

(194.0) (59.8) (36.5) 1.0 (289.3)

Other (expense) income

(7.1) (1.5) 0.1 11.2 2.7

Share of affiliates' pre-tax (losses) earnings

(0.2) — 109.4 — 109.2

Segment Profit

$ 256.1 $ 92.3 $ 126.3 $ 24.7 $ 499.4

Less:

Selling, general and administrative expense

181.0

Income taxes (includes $28.1 related to affiliates' earnings)

82.1

Net Income

236.3

Less: Net Income Attributable to Non-Controlling Interest —

Net Income Attributable to GATX $ 236.3

Selected Data:

Investment volume

$ 502.5 $ 209.9 $ 147.1 $ 17.5 $ 877.0

Net Gain on Asset Dispositions

Asset Remarketing Income:

Net gains on disposition of owned assets

$ 81.0 $ 1.4 $ — $ — $ 82.4

Residual sharing income

0.4 — — — 0.4

Non-remarketing net gains (1)

14.7 3.1 — — 17.8

Asset impairments

(3.6) — — — (3.6)

$ 92.5 $ 4.5 $ — $ — $ 97.0

_________

(1) Includes net gains from scrapping of railcars.

Page 14

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(In millions, except per share data)

Impact of Tax Adjustments and Other Items on Net Income Attributable to GATX(1)

Three Months Ended

September 30 Nine Months Ended

September 30

2026 2025 2026 2025

Net income (GAAP) $ 107.2 $ 82.2 $ 297.3 $ 236.3

Less : Net income attributable to non-controlling interest 2.0 — 3.2 —

Net income attributable to GATX $ 105.2 $ 82.2 $ 294.1 $ 236.3

Adjustments to pre-tax income attributable to GATX:

Acquisition-related expenses (2) $ — $ 3.8 $ — $ 3.8

Total adjustments to pre-tax income attributable to GATX $ — $ 3.8 $ — $ 3.8

Income taxes thereon, based on applicable effective tax rate — (0.9) — (0.9)

Adjustments attributable to affiliates' earnings, net of taxes:

Insurance proceeds (3) — (8.2) — (8.2)

Total adjustments attributable to affiliates' earnings, net of taxes $ — $ (8.2) $ — $ (8.2)

Net income attributable to GATX, excluding tax adjustments and other items (non-GAAP) $ 105.2 $ 76.9 $ 294.1 $ 231.0

Impact of Tax Adjustments and Other Items on Diluted Earnings per Share(1)

Three Months Ended

September 30 Nine Months Ended

September 30

2026 2025 2026 2025

Diluted earnings per share (GAAP) $ 2.92 $ 2.25 $ 8.11 $ 6.46

Diluted earnings per share, excluding tax adjustments and other items (non-GAAP) $ 2.92 $ 2.10 $ 8.11 $ 6.31

_________

(1) In addition to financial results reported in accordance with GAAP, we compute certain financial measures using non-GAAP components. Specifically, we exclude the effects of certain tax adjustments and other items for purposes of presenting net income attributable to GATX and diluted earnings per share because we believe these items are not attributable to our business operations. Management utilizes net income attributable to GATX, excluding tax adjustments and other items, when analyzing financial performance because such amounts reflect the underlying operating results that are within management’s ability to influence. Accordingly, we believe presenting this information provides investors and other users of our financial statements with meaningful supplemental information for purposes of analyzing year-to-year financial performance on a comparable basis and assessing trends.

(2) Expenses associated with the acquisition of Wells Fargo's rail assets.

(3) Insurance recoveries related to aircraft spare engines at RRPF for which it had previously recorded impairment losses.

Page 15

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(In millions, except leverage)

(Continued)

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

Total Assets, Excluding Cash, by Segment

Rail North America $ 11,967.8 $ 12,068.4 $ 12,242.6 $ 7,969.0 $ 7,865.3

Rail International 2,710.8 2,729.1 2,738.0 2,825.1 2,522.9

Engine Leasing 1,803.8 1,763.3 1,805.3 1,786.9 1,805.9

Other 414.8 412.9 417.3 433.6 415.3

Total Assets, excluding cash $ 16,897.2 $ 16,973.7 $ 17,203.2 $ 13,014.6 $ 12,609.4

Debt and Lease Obligations, Net of Unrestricted Cash

Unrestricted cash $ (390.0) $ (747.1) $ (740.9) $ (743.0) $ (696.1)

Borrowings under bank credit facilities 34.6 44.0 49.7 82.2 117.3

Recourse debt 11,904.0 12,289.3 12,427.3 12,451.7 8,751.3

Operating lease obligations 131.4 143.8 150.9 154.3 160.7

Total debt and lease obligations, net of unrestricted cash $ 11,680.0 $ 11,730.0 $ 11,887.0 $ 11,945.2 $ 8,333.2

Total recourse debt (1) $ 11,680.0 $ 11,730.0 $ 11,887.0 $ 11,945.2 $ 8,333.2

Total equity $ 3,538.4 $ 3,589.9 $ 3,656.2 $ 3,635.1 $ 2,718.9

Recourse Leverage (2) 3.3 3.3 3.3 3.3 3.1

_________

(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 $ 17,287.4 $ 17,720.9 $ 17,944.2 $ 17,999.5 $ 13,305.8

Less: cash (390.2) (747.2) (741.0) (4,984.9) (696.4)

Total Assets, excluding cash $ 16,897.2 $ 16,973.7 $ 17,203.2 $ 13,014.6 $ 12,609.4

Page 16

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(Continued)

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

Rail North America Statistics

Lease Price Index (LPI) (1)

Average renewal lease rate change 12.4 % 16.8 % 22.3 % 21.9 % 22.8 %

Average renewal term (months) 52 54 56 58 60

Renewal Success Rate (2) 86.1 % 82.6 % 79.1 % 91.4 % 87.1 %

Fleet Rollforward (3)

Beginning balance 192,638 196,233 100,593 101,288 102,317

Railcars added 325 690 98,535 920 366

Railcars scrapped (731) (878) (1,355) (898) (478)

Railcars sold (2,129) (3,407) (1,540) (717) (917)

Ending balance 190,103 192,638 196,233 100,593 101,288

Utilization 98.4 % 98.0 % 98.1 % 99.0 % 98.9 %

Average active railcars 188,358 190,587 193,195 99,999 100,896

Boxcar Fleet Rollforward

Beginning balance 9,136 9,888 7,032 7,478 7,621

Railcars added 140 — 3,411 1 172

Railcars scrapped (280) (251) (266) (365) (285)

Railcars sold — (501) (289) (82) (30)

Ending balance 8,996 9,136 9,888 7,032 7,478

Utilization 97.9 % 97.1 % 97.6 % 97.1 % 96.9 %

Average active railcars 8,883 9,152 9,895 7,206 7,391

Rail North America Industry Statistics

Manufacturing Capacity Utilization Index (4) 76.9 % 76.3 % 75.5 % 75.7 % 76.1 %

Year-over-year Change in U.S. Carloadings (excl. intermodal) (5) 2.7 % 3.2 % 4.2 % 1.5 % 2.1 %

Year-over-year Change in U.S. Carloadings (chemical) (5) 2.3 % 2.9 % 3.8 % 0.8 % 1.5 %

Year-over-year Change in U.S. Carloadings (petroleum) (5) 7.7 % 7.4 % 7.3 % (1.6) % (1.2) %

Production Backlog at Railcar Manufacturers (6) 25,326 23,427 23,128 23,431 25,687

_________

(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 17

GATX CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION (UNAUDITED)

(Continued)

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

Rail Europe Statistics

Fleet Rollforward

Beginning balance 36,718 36,651 36,484 30,572 30,492

Railcars added 206 229 355 6,145 328

Railcars scrapped or sold (212) (162) (188) (233) (248)

Ending balance 36,712 36,718 36,651 36,484 30,572

Utilization 96.1 % 95.3 % 94.7 % 94.7 % 93.7 %

Average active railcars 35,138 34,868 34,588 32,671 28,592

Rail India Statistics

Fleet Rollforward

Beginning balance 12,851 12,508 12,165 11,712 11,112

Railcars added 98 343 343 453 600

Ending balance 12,949 12,851 12,508 12,165 11,712

Utilization 100.0 % 100.0 % 100.0 % 100.0 % 100.0 %

Average active railcars 12,925 12,692 12,275 11,905 11,363

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