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GATX has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters (missed in one), the average beat being 16.49%. Notably, the Zacks Consensus Estimate for GATX’s fourth-quarter 2023 earnings has been revised upward by 7.6% in the past 90 days.
Further, GATX anticipates full-year 2023 earnings to modestly exceed the high end of its prior guidance range of $6.50–$6.90 per diluted share.
Let’s see how things have shaped up for GATX this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for GATX’s fourth-quarter 2023 revenues is pegged at $394.91 million, indicating 22.38% year-over-year growth. The top line is expected to have benefited from strength across its Rail North America segment, Rail International segment and Portfolio Management segment.
On the flip side, high operating expenses pose a threat to GATX's bottom line. The economic uncertainty is a bane for GATX's business. The fact that GATX is a highly leveraged company also does not bode well.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for GATX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
GATX has an Earnings ESP of 0.00% and a Zacks Rank #3.
Highlights of Q3
GATX's third-quarter 2023 earnings per share of $1.44 lagged the Zacks Consensus Estimate of $1.53. The bottom line improved 29% year over year. Revenues of $360.1 million missed the Zacks Consensus Estimate of $374.4 million but improved 12.2% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their fourth-quarter 2023 earnings:
The Zacks Consensus Estimate for AAL’s fourth-quarter 2023 earnings has been revised upward by more than 100% in the past 90 days. AAL delivered a trailing four-quarter earnings surprise of 23.83%, on average.
Shares of AAL have gained 10.6% in the past three months.
Copa Holdings, S.A.(CPA - Free Report) has an Earnings ESP of +6.71% and a Zacks Rank #2. CPA will release results on Feb 7.
The Zacks Consensus Estimate for CPA’s fourth-quarter 2023 earnings has been revised upward by 5.1% in the past 90 days. CPA delivered a trailing four-quarter earnings surprise of 16.81%, on average.
Shares of CPA have gained 2.2% in the past three months.
Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (WAB - Free Report) , has an Earnings ESP of +0.85% and a Zacks Rank #2. WAB will release results on Feb 14.
WAB has an expected earnings growth rate of 20.77% for fourth-quarter 2023. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s fourth-quarter 2023 earnings has improved 3.3% over the past 90 days. Shares of WAB have gained 11.6% in the past three months.
Image: Bigstock
GATX Gears Up to Report Q4 Earnings: What's in the Cards?
GATX Corporation (GATX - Free Report) is scheduled to report fourth-quarter 2023 results on Jan 23, before market open.
GATX has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters (missed in one), the average beat being 16.49%. Notably, the Zacks Consensus Estimate for GATX’s fourth-quarter 2023 earnings has been revised upward by 7.6% in the past 90 days.
Further, GATX anticipates full-year 2023 earnings to modestly exceed the high end of its prior guidance range of $6.50–$6.90 per diluted share.
Let’s see how things have shaped up for GATX this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for GATX’s fourth-quarter 2023 revenues is pegged at $394.91 million, indicating 22.38% year-over-year growth. The top line is expected to have benefited from strength across its Rail North America segment, Rail International segment and Portfolio Management segment.
On the flip side, high operating expenses pose a threat to GATX's bottom line. The economic uncertainty is a bane for GATX's business. The fact that GATX is a highly leveraged company also does not bode well.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for GATX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
GATX has an Earnings ESP of 0.00% and a Zacks Rank #3.
Highlights of Q3
GATX's third-quarter 2023 earnings per share of $1.44 lagged the Zacks Consensus Estimate of $1.53. The bottom line improved 29% year over year. Revenues of $360.1 million missed the Zacks Consensus Estimate of $374.4 million but improved 12.2% year over year.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their fourth-quarter 2023 earnings:
American Airlines Group Inc. (AAL - Free Report) has an Earnings ESP of +43.10% and a Zacks Rank #2. AAL will release results on Jan 25. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AAL’s fourth-quarter 2023 earnings has been revised upward by more than 100% in the past 90 days. AAL delivered a trailing four-quarter earnings surprise of 23.83%, on average.
Shares of AAL have gained 10.6% in the past three months.
Copa Holdings, S.A.(CPA - Free Report) has an Earnings ESP of +6.71% and a Zacks Rank #2. CPA will release results on Feb 7.
The Zacks Consensus Estimate for CPA’s fourth-quarter 2023 earnings has been revised upward by 5.1% in the past 90 days. CPA delivered a trailing four-quarter earnings surprise of 16.81%, on average.
Shares of CPA have gained 2.2% in the past three months.
Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (WAB - Free Report) , has an Earnings ESP of +0.85% and a Zacks Rank #2. WAB will release results on Feb 14.
WAB has an expected earnings growth rate of 20.77% for fourth-quarter 2023. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s fourth-quarter 2023 earnings has improved 3.3% over the past 90 days. Shares of WAB have gained 11.6% in the past three months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.