GATX Corporation (GATX - Free Report) performed impressively in the third quarter of 2019, reporting better-than-expected earnings and revenues. This outperformance along with the company’s updated guidance for 2019 earnings pleased investors. As a result, the stock gained 3.3% to $78.74 on Oct 22.
The company’s earnings of $1.25 per share surpassed the Zacks Consensus Estimate by 9 cents. The bottom line also inched up 2.5% from the year-ago figure. Results were aided by higher revenues.
Moreover, revenues came in at $360.7 million, which outpaced the Zacks Consensus Estimate of $352.5 million. The top line also increased on a year-over-year basis, mainly owing to higher other revenues. Total expenses rose 3.1% to $273.5 million in the reported quarter.
GATX has a Zacks Rank #3 (Hold). Management anticipates 2019 earnings at the upper end of or slightly above the previously guided range of $4.85-$5.15 per share. The Zacks Consensus Estimate is currently pegged at $5.18 per share. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.