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GATX GATX Corporation Reports 2021 Second - Quarter Results July 20 , 2021 • Net income for the second quarter 2021 was $ 5.5 million or $ 0.15 per diluted share • Results include a non - cash , net negative impact of $ 39.7 million or $ 1.10 per diluted share related to an enacted tax rate increase in the United Kingdom • Company increases 2021 full - year earnings guidance to $ 4.30- $ 4.50 per diluted share CHICAGO , July 20 , 2021 ( GLOBE NEWSWIRE ) -- GATX Corporation ( NYSE : GATX ) today reported 2021 second - quarter results . Results for the second quarter and six months ended June 30 , 2021 are summarized below : Three Months Ended June 30 Six Months Ended June 30 Per Diluted Share 2021 Income from Continuing Operations $ 0.15 $ 2020 1.05 $ 2021 1.17 $ 2020 2.38 Income from Discontinued Operations 0.06 0.04 Total $ 0.15 $ 1.11 $ 1.17 $ 2.42 2021 second - quarter net income from continuing operations was $ 5.5 million or $ 0.15 per diluted share , compared to net income from continuing operations of $ 37.0 million or $ 1.05 per diluted share in the second quarter of 2020. Net income from continuing operations for the first six months of 2021 was $ 42.0 million or $ 1.17 per diluted share , compared to $ 84.2 million or $ 2.38 per diluted share in the prior year period . The 2021 second- quarter and year - to - date results include a net negative impact of $ 39.7 million or $ 1.10 per diluted share related to an enacted tax rate increase in the United Kingdom and a net negative impact of $ 3.4 million or $ 0.09 per diluted share attributed to debt extinguishment costs associated with an early redemption . Details related to these items are provided in the attached Supplemental Information under Tax Adjustments and Other Items . Net income from discontinued operations in the second - quarter and year - to - date periods of 2021 was zero , compared to $ 2.3 million or $ 0.06 per diluted share in the second quarter of 2020 and $ 1.4 million or $ 0.04 per diluted share for the first six months of 2020 . " We continued to see improvement in Rail North America's operating environment in the second quarter , as rail carloads increased and industry cars in storage decreased from last quarter and the prior year , " said Brian A. Kenney , president and chief executive officer of GATX . " GATX's fleet utilization increased to 98.5 % at quarter end and our renewal success rate was 77.5 % . Absolute lease rates across the majority of our fleet increased for the fourth quarter in a row , and we continue to operate more efficiently in our maintenance network . We expect these favorable trends to remain for the rest of this year . " As expected , Rail International performed well , and we are progressing against our goal of growing and diversifying our fleet in Europe . Second- quarter fleet utilization at GATX Rail Europe remained high at 98.4 % and renewal lease rates continue to be higher than expiring rates for most car types . Underlying demand for our railcars remains strong in Europe and India . However , fleet growth at Rail India during the quarter was constrained by COVID - 19 - related manufacturing disruptions . In the Portfolio Management segment , Rolls - Royce and Partners Finance affiliates ' operations remain challenged as demand for long - haul passenger flights continues to be hampered by COVID - 19 travel restrictions . " Mr. Kenney concluded , " We are encouraged by the continuing recovery in the North American railcar leasing market and our other segments are performing in line with our expectations . Therefore , we are increasing our 2021 full - year earnings estimate to $ 4.30 to $ 4.50 per diluted share , from our previous guidance of $ 4.00 to $ 4.30 per diluted share . This guidance excludes any impact from Tax Adjustments and Other Items . " RAIL NORTH AMERICA Rail North America reported segment profit of $ 77.6 million in the second quarter of 2021 , compared to $ 50.0 million in the second quarter of 2020 . Higher segment profit was primarily a result of higher gains on asset dispositions , reflective of a robust secondary market for railcar sales . Year to date , Rail North America reported segment profit of $ 143.3 million , compared to $ 122.0 million in the same period of 2020. The increase in year - to - date 2021 results was predominantly driven by higher gains on asset dispositions and lower maintenance expense , partially offset by lower revenue . At June 30 , 2021 , Rail North America's wholly owned fleet was comprised of approximately 114,800 cars , including approximately 12,700 boxcars . The following fleet statistics and performance discussion exclude the boxcar fleet . Fleet utilization was 98.5 % at the end of the second quarter , compared to 97.8 % at the end of the prior quarter and 98.7 % at the end of the second quarter of 2020. During the second quarter , the renewal lease rate change of the GATX Lease Price Index ( LPI ) was negative 6.7 % . This compares to negative 18.1 % in the prior quarter and negative 28.0 % in the second quarter of 2020. The average lease renewal term for all cars included in the LPI during the second quarter was 29 months , compared to 30 months in the prior quarter and 31 months in the second quarter of 2020. Rail North America's investment volume during the second quarter was $ 106.4 million . Additional fleet statistics , including information on the boxcar fleet , and macroeconomic data related to Rail North America's business are provided on the last page of this press release . RAIL INTERNATIONAL Rail International's segment profit was $ 27.3 million in the second quarter of 2021 , compared to $ 20.0 million in the second quarter of 2020 . Year - to - date 2021 , Rail International reported segment profit of $ 49.1 million , compared to $ 33.9 million for the same period of 2020. Results in the