GATX Corporation Reports 2026 Second-Quarter Results

GATX Corporation Reports 2026 Second-Quarter Results July 30, 2026 Company raises 2026 full-year earnings guidance to $9.90–$10.30 per diluted share Rail North America's utilization for the combined fleet remains high at 98.0% at quarter end Demand for aircraft spare engines remains strong Investment volume was $200.5 million in the second quarter and totaled $4.7 billion year to date GATX Corporation (NYSE: GATX) today reported 2026 second-quarter net income attributable to GATX of $103.4 million, or $2.84 per diluted share, compared to net income attributable to GATX of $75.5 million, or $2.06 per diluted share, in the second quarter of 2025. Net income attributable to GATX for the first six months of 2026 was $188.9 million, or $5.19 per diluted share, compared to $154.1 million, or $4.21 per diluted share, in the prior year period. "GATX delivered strong second-quarter results," said Robert C. Lyons, president and chief executive officer of GATX. "At Rail North America, fleet demand remained stable for most car types. Utilization of the combined fleet remained high at 98.0% at quarter end, while the renewal lease rate change of GATX’s Lease Price Index was 16.8% with an average renewal term of 54 months. Also, our second-quarter renewal success rate was strong at 82.6%. Our team has done an outstanding job integrating the Wells Fargo Rail fleet, and we are seeing incremental benefits related to the acquisition, both commercially and operationally. We did experience an abnormally high volume of railcar renewals in sand service during the quarter, including some carried over from the period immediately following the acquisition, which placed pressure on second-quarter LPI. Demand for railcars in the secondary market was very strong, as we continue to see robust interest in GATX assets from a broad and deep buyer universe. We generated $67.7 million of gains on asset dispositions in the quarter, bringing our year-to-date total to $117.5 million. "At Rail International, GATX Rail Europe's fleet utilization was 95.3% at quarter end, a modest increase from the previous quarter and a very positive outcome given the generally tepid economic conditions across Europe. GATX Rail India's fleet remains fully utilized, reflecting robust demand for railcars in India." Mr. Lyons added, "Engine Leasing performed well as demand for aircraft spare engines remains strong. Global air passenger traffic trends have remained healthy year to date despite the ongoing conflict in the Middle East. We continue to identify attractive aircraft engine investment opportunities, with the RRPF affiliates investing over $660 million year to date." Mr. Lyons concluded, "We are increasing our 2026 full-year earnings estimate to be in the range of $9.90 – $10.30 per diluted share. This increase reflects several positive factors: strong operating performance and contributions from each of our segments year to date, favorable supply-demand dynamics that are driving the North American rail market, the pace of integration and positive impacts generated by the Wells Fargo Rail acquisition, and the expectation that our teams across GATX will continue executing at a high level. Combined with disciplined investment in our core markets, we believe we are well-positioned to continue generating attractive growth and returns for our shareholders." RAIL NORTH AMERICA Rail North America reported segment profit of $118.5 million in the second quarter of 2026, compared to $96.6 million in the second quarter of 2025. Year to date 2026, Rail North America reported segment profit of $222.4 million, compared to $185.4 million in the same period of 2025. Higher 2026 second-quarter and year-to-date results were driven by higher revenues and higher gains on asset dispositions, partly offset by higher interest, depreciation and maintenance expenses. As of June 30, 2026, Rail North America’s fleet totaled approximately 201,800 cars, including over 9,100 boxcars. The following fleet statistics and performance discussion exclude the boxcar fleet. Fleet utilization was 98.0% at the end of the second quarter of 2026, compared to 98.1% at the end of the prior quarter, driven by the acquisition of the Wells Fargo Rail's fleet, and 99.2% at the end of the second quarter of 2025. During the second quarter of 2026, the renewal lease rate change of the Lease Price Index (LPI) was positive 16.8%, compared to 22.3% in the prior quarter and 24.2% in the second quarter of 2025. The average lease renewal term for all cars included in the LPI during the second quarter of 2026 was 54 months, compared to 56 months in the prior quarter and 60 months in the second quarter of 2025. The 2026 second-quarter renewal success rate was 82.6%, compared to 79.1% in the prior quarter and 84.2% in the second quarter of 2025. Rail North America’s investment volume during the second quarter of 2026 was $147.1 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. RAIL INTERNATIONAL Rail International’s segment profit was $31.6 million in the second quarter of 2026, compared to $32.2 million in the second quarter of 2025. Year to date 2026, Rail International reported segment profit of $63.2 million, compared to $57.9 million in the same period of 2025. 2026 second-quarter and year-to-date results were favorably impacted by more railcars on lease, including railcars acquired from DB Cargo in a sale-leaseback transaction, and negatively impacted by higher depreciation and interest expenses. As of June 30, 2026, GATX Rail Europe’s (GRE) fleet consisted of approximately 36,700 cars. Fleet utilization was 95.3%, compared to 94.7% at the end of the prior quarter and 93.3% at the end of the second quarter of 2025. As of June 30, 2026, Rail India's fleet consisted of over 12,800 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 second quarter of 2025. Rail International’s investment volume during the second quarter of 2026 was $45.6 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 $66.4 million in the second quarter of 2026, compared to segment profit of $27.3 million in the second quarter of 2025. Year to date 2026, segment profit was $101.7 million, compared to segment profit of $65.9 million in the same period of 2025. Higher 2026 second-quarter and year-to-date results were primarily driven by strong performance at the Rolls-Royce and Partners Finance (RRPF) affiliates. In the second quarter of 2026, both operating and remarketing income at RRPF were higher compared with the same period in 2025. As of June 30, 2026, RRPF's portfolio, 50% of which is owned by GATX, consisted of 468 aircraft engines. As of June 30, 2026, GATX Engine Leasing, the Company’s wholly owned engine portfolio, consisted of 46 aircraft engines. 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. TELECONFERENCE INFORMATION GATX Corporation will host a teleconference to discuss its 2026 second-quarter results. Call details are as follows: Thursday, July 30, 2026 11 a.m. Eastern Time Domestic Dial-In: 1-833-461-5787 International Dial-In: 1-585-542-9983 Access Code: 580 832 623 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 July 30, 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. 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 deflationhigh interest ratesweak macroeconomic conditions and world trade policiesweak market conditions in our customers' businessesadverse changes in the price of, or demand for, commoditieschanges in, or disruptions to, supply chainsavailability of pipelines, trucks, and other alternative modes of transportationchanges in conditions affecting the aviation industry, including geopolitical tensions or conflicts (such as hostilities in the Middle East), geographic exposure, customer concentrations and energy costscustomers' desire to buy, rather than lease, our transportation assetsother operational or commercial needs or decisions of our customersreduced demand for our rail assets resulting from a change in pricing, service offerings, or operating conditions of North American railroadscompetitive factors in our primary marketsthreatened or implemented changes in tariffs or other global trade policieshigher costs associated with increased assignments of our transportation assets following non-renewal of leases or a significant increase in compliance-based maintenance eventsevents having an adverse impact on assets, customers, or regions where we have a concentrated investment exposurefinancial and operational risks associated with long-term purchase commitments for transportation assetsreduced opportunities to generate asset remarketing incomeinability to successfully consummate and manage ongoing acquisition and divestiture activities, including the recent acquisition of the Wells Fargo fleetreliance on Rolls-Royce in connection with our aircraft spare engine leasing businessesU.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 conditionspotential obsolescence of our assetsrisks 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 businessfailure to successfully negotiate collective bargaining agreements with the unions representing a substantial portion of our employeesinability to attract, retain, and motivate qualified personnel, including key management personnelinability to protect our information technology from cybersecurity threatsrisks posed by artificial intelligenceexposure 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 assetschanges in, or failure to comply with, laws, rules, and regulationsenvironmental liabilities and remediation costsoperational, functional and regulatory risks associated with climate change, severe weather events, and other environmental concernsrisks associated with sustainability concernsprolonged inflation or deflation or interest rate increasesdeterioration of conditions in the capital markets, reductions in our credit ratings, or increases in our financing costsfluctuations in foreign exchange ratesinability to obtain cost-effective insurancechanges in assumptions, increases in funding requirements or investment losses in our pension and post-retirement plansinadequate allowances to cover credit losses in our portfolioasset impairment charges we may be required to recognizeinability to maintain effective internal control over financial reporting and disclosure controls and proceduresrisks of a widespread health crisis GATX CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (In millions, except per share data) Three Months Ended June 30 Six Months Ended June 30 2026 2025 2026 2025 Revenues Lease revenue $ 508.4 $ 368.8 $ 1,027.1 $ 728.4 Non-dedicated engine revenue 20.6 20.5 42.7 42.0 Other revenue 51.1 41.2 94.0 81.7 Total Revenues 580.1 430.5 1,163.8 852.1 Expenses Maintenance expense 151.8 104.5 292.5 208.0 Depreciation expense 166.5 106.9 335.7 210.5 Operating lease expense 7.4 7.1 14.8 14.7 Other operating expense 24.8 16.5 46.6 32.5 Selling, general and administrative expense 69.2 58.2 140.5 114.8 Total Expenses 419.7 293.2 830.1 580.5 Other Income (Expense) Net gain on asset dispositions 69.7 40.5 120.7 73.9 Interest expense, net (143.0 ) (96.2 ) (294.0 ) (191.1 ) Other income (expense) 12.7 (1.1 ) 18.9 (3.8 ) Income before Income Taxes and Share of Affiliates’ Earnings 99.8 80.5 179.3 150.6 Income taxes (26.0 ) (21.0 ) (47.2 ) (37.6 ) Share of affiliates’ earnings, net of taxes 37.2 16.0 58.0 41.1 Net Income 111.0 75.5 190.1 154.1 Less: Net Income Attributable to Non-Controlling Interest 7.6 — 1.2 — Net Income Attributable to GATX $ 103.4 $ 75.5 $ 188.9 $ 154.1 GATX Share Data Basic earnings per share $ 2.85 $ 2.07 $ 5.20 $ 4.22 Average number of common shares 35.7 35.9 35.7 35.9 Diluted earnings per share $ 2.84 $ 2.06 $ 5.19 $ 4.21 Average number of common shares and common share equivalents 35.8 35.9 35.8 36.0 Dividends declared per common share $ 0.66 $ 0.61 $ 1.32 $ 1.22 GATX CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In millions) June 30 December 31 2026 2025 Assets Cash and Cash Equivalents $ 747.1 $ 743.0 Restricted Cash 0.1 4,241.9 Receivables Rent and other receivables 157.4 109.0 Finance leases (as lessor) 191.2 104.2 Less: allowance for losses (6.2 ) (6.0 ) 342.4 207.2 Operating Assets and Facilities 19,695.8 15,662.6 Less: allowance for depreciation (4,426.1 ) (4,251.7 ) 15,269.7 11,410.9 Lease Assets (as lessee) Right-of-use assets, net of accumulated depreciation 127.5 137.4 Investments in Affiliated Companies 721.9 732.3 Goodwill 123.4 126.3 Other Assets 388.8 400.5 Total Assets $ 17,720.9 $ 17,999.5 Liabilities and Equity Accounts Payable and Accrued Expenses $ 279.2 $ 318.4 Debt Borrowings under bank credit facilities 44.0 82.2 Recourse debt 12,289.3 12,451.7 12,333.3 12,533.9 Lease Obligations (as lessee) Operating leases 143.8 154.3 Deferred Income Taxes 1,232.3 1,195.7 Other Liabilities 142.4 162.1 Total Liabilities 14,131.0 14,364.4 Total GATX Shareholders’ Equity 2,784.4 2,750.5 Non-Controlling Interest 805.5 884.6 Total Equity 3,589.9 3,635.1 Total Liabilities and Equity $ 17,720.9 $ 17,999.5 GATX CORPORATION AND SUBSIDIARIES SEGMENT DATA (UNAUDITED) Three Months Ended June 30, 2026 (In millions) Rail North America Rail International Engine Leasing Other GATX Consolidated Revenues Lease revenue $ 391.0 $ 100.3 $ 8.8 $ 8.3 $ 508.4 Non-dedicated engine revenue — — 20.6 — 20.6 Other revenue 44.0 5.3 — 1.8 51.1 Total Revenues 435.0 105.6 29.4 10.1 580.1 Expenses Maintenance expense 131.8 19.2 — 0.8 151.8 Depreciation expense 124.0 27.9 10.6 4.0 166.5 Operating lease expense 7.4 — — — 7.4 Other operating expense 15.8 4.9 3.0 1.1 24.8 Total Expenses 279.0 52.0 13.6 5.9 350.5 Other Income (Expense) Net gain on asset dispositions 67.7 2.0 — — 69.7 Interest expense, net (103.7 ) (23.9 ) (12.7 ) (2.7 ) (143.0 ) Other (expense) income (1.5 ) (0.1 ) 13.7 0.6 12.7 Share of affiliates' pre-tax earnings — — 49.6 — 49.6 Segment Profit $ 118.5 $ 31.6 $ 66.4 $ 2.1 $ 218.6 Less: Selling, general and administrative expense 69.2 Income taxes (includes $12.4 related to affiliates' earnings) 38.4 Net Income 111.0 Less: Net Income Attributable to Non-Controlling Interest 7.6 Net Income Attributable to GATX $ 103.4 Selected Data: Investment volume $ 147.1 $ 45.6 $ — $ 7.8 $ 200.5 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 58.3 $ 0.8 $ — $ — $ 59.1 Residual sharing income 0.1 — — — 0.1 Non-remarketing net gains (1) 9.3 1.2 — — 10.5 $ 67.7 $ 2.0 $ — $ — $ 69.7 _________ (1) Includes net gains from scrapping of railcars. GATX CORPORATION AND SUBSIDIARIES SEGMENT DATA (UNAUDITED) Three Months Ended June 30, 2025 (In millions) Rail North America Rail International Engine Leasing Other GATX Consolidated Revenues Lease revenue $ 262.8 $ 89.6 $ 8.1 $ 8.3 $ 368.8 Non-dedicated engine revenue — — 20.5 — 20.5 Other revenue 32.9 6.2 — 2.1 41.2 Total Revenues 295.7 95.8 28.6 10.4 430.5 Expenses Maintenance expense 84.3 18.9 — 1.3 104.5 Depreciation expense 71.7 21.7 9.5 4.0 106.9 Operating lease expense 7.1 — — — 7.1 Other operating expense 7.8 4.9 2.9 0.9 16.5 Total Expenses 170.9 45.5 12.4 6.2 235.0 Other Income (Expense) Net gain on asset dispositions 39.1 1.4 — — 40.5 Interest expense, net (64.4 ) (20.0 ) (11.6 ) (0.2 ) (96.2 ) Other (expense) income (2.8 ) 0.5 0.1 1.1 (1.1 ) Share of affiliates' pre-tax (losses) earnings (0.1 ) — 22.6 — 22.5 Segment Profit $ 96.6 $ 32.2 $ 27.3 $ 5.1 $ 161.2 Less: Selling, general and administrative expense 58.2 Income taxes (includes $6.5 related to affiliates' earnings) 27.5 Net Income 75.5 Less: Net Income Attributable to Non-Controlling Interest — Net Income Attributable to GATX $ 75.5 Selected Data: Investment volume $ 132.2 $ 81.1 $ — $ 5.7 $ 219.0 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 34.1 $ — $ — $ — $ 34.1 Residual sharing income 0.2 — — — 0.2 Non-remarketing net gains (1) 4.8 1.4 — — 6.2 $ 39.1 $ 1.4 $ — $ — $ 40.5 __________ (1) Includes net gains from scrapping of railcars. GATX CORPORATION AND SUBSIDIARIES SEGMENT DATA (UNAUDITED) Six Months Ended June 30, 2026 (In millions) Rail North America Rail International Engine Leasing Other GATX Consolidated Revenues Lease revenue $ 791.7 $ 200.7 $ 18.3 $ 16.4 $ 1,027.1 Non-dedicated engine revenue — — 42.7 — 42.7 Other revenue 80.0 10.1 — 3.9 94.0 Total Revenues 871.7 210.8 61.0 20.3 1,163.8 Expenses Maintenance expense 252.4 38.3 — 1.8 292.5 Depreciation expense 250.7 55.7 21.2 8.1 335.7 Operating lease expense 14.8 — — — 14.8 Other operating expense 28.9 10.2 6.1 1.4 46.6 Total Expenses 546.8 104.2 27.3 11.3 689.6 Other Income (Expense) Net gain on asset dispositions 117.5 3.1 — 0.1 120.7 Interest expense, net (217.7 ) (48.9 ) (26.0 ) (1.4 ) (294.0 ) Other (expense) income (2.3 ) 2.4 16.8 2.0 18.9 Share of affiliates' pre-tax earnings — — 77.2 — 77.2 Segment Profit $ 222.4 $ 63.2 $ 101.7 $ 9.7 $ 397.0 Less: Selling, general and administrative expense 140.5 Income taxes (includes $19.2 related to affiliates' earnings) 66.4 Net Income 190.1 Less: Net Income Attributable to Non-Controlling Interest 1.2 Net Income Attributable to GATX $ 188.9 Selected Data: Investment volume $ 4,611.3 $ 93.0 $ 0.2 $ 16.0 $ 4,720.5 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 102.3 $ 0.8 $ — $ 0.1 $ 103.2 Residual sharing income 0.2 — — — 0.2 Non-remarketing net gains (1) 16.7 2.3 — — 19.0 Asset impairments (1.7 ) — — — (1.7 ) $ 117.5 $ 3.1 $ — $ 0.1 $ 120.7 _________ (1) Includes net gains from scrapping of railcars. GATX CORPORATION AND SUBSIDIARIES SEGMENT DATA (UNAUDITED) Six Months Ended June 30, 2025 (In millions) Rail North America Rail International Engine Leasing Other GATX Consolidated Revenues Lease revenue $ 522.8 $ 173.2 $ 16.2 $ 16.2 $ 728.4 Non-dedicated engine revenue — — 42.0 — 42.0 Other revenue 66.2 11.1 — 4.4 81.7 Total Revenues 589.0 184.3 58.2 20.6 852.1 Expenses Maintenance expense 168.0 37.4 — 2.6 208.0 Depreciation expense 142.1 41.8 18.9 7.7 210.5 Operating lease expense 14.7 — — — 14.7 Other operating expense 15.3 9.5 5.7 2.0 32.5 Total Expenses 340.1 88.7 24.6 12.3 465.7 Other Income (Expense) Net gain on asset dispositions 71.2 2.7 — — 73.9 Interest (expense) income, net (129.1 ) (39.1 ) (23.8 ) 0.9 (191.1 ) Other (expense) income (5.5 ) (1.3 ) 0.1 2.9 (3.8 ) Share of affiliates' pre-tax (losses) earnings (0.1 ) — 56.0 — 55.9 Segment Profit $ 185.4 $ 57.9 $ 65.9 $ 12.1 $ 321.3 Less: Selling, general and administrative expense 114.8 Income taxes (includes $14.8 related to affiliates' earnings) 52.4 Net Income 154.1 Less: Net Income Attributable to Non-Controlling Interest — Net Income Attributable to GATX $ 154.1 Selected Data: Investment volume $ 359.9 $ 143.8 $ — $ 11.6 $ 515.3 Net Gain on Asset Dispositions Asset Remarketing Income: Net gains on disposition of owned assets $ 64.6 $ 0.6 $ — $ — $ 65.2 Residual sharing income 0.3 — — — 0.3 Non-remarketing net gains (1) 9.9 2.1 — — 12.0 Asset impairments (3.6 ) — — — (3.6 ) $ 71.2 $ 2.7 $ — $ — $ 73.9 _________ (1) Includes net gains from scrapping of railcars. GATX CORPORATION AND SUBSIDIARIES SUPPLEMENTAL INFORMATION (UNAUDITED) (In millions, except leverage) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Total Assets, Excluding Cash, by Segment Rail North America $ 12,068.4 $ 12,242.6 $ 7,969.0 $ 7,865.3 $ 7,886.8 Rail International 2,729.1 2,738.0 2,825.1 2,522.9 2,514.9 Engine Leasing 1,763.3 1,805.3 1,786.9 1,805.9 1,626.5 Other 412.9 417.3 433.6 415.3 416.8 Total Assets, excluding cash $ 16,973.7 $ 17,203.2 $ 13,014.6 $ 12,609.4 $ 12,445.0 Debt and Lease Obligations, Net of Unrestricted Cash Unrestricted cash $ (747.1 ) $ (740.9 ) $ (743.0 ) $ (696.1 ) $ (754.6 ) Borrowings under bank credit facilities 44.0 49.7 82.2 117.3 106.1 Recourse debt 12,289.3 12,427.3 12,451.7 8,751.3 8,741.3 Operating lease obligations 143.8 150.9 154.3 160.7 168.4 Total debt and lease obligations, net of unrestricted cash $ 11,730.0 $ 11,887.0 $ 11,945.2 $ 8,333.2 $ 8,261.2 Total recourse debt (1) $ 11,730.0 $ 11,887.0 $ 11,945.2 $ 8,333.2 $ 8,261.2 Total equity $ 3,589.9 $ 3,656.2 $ 3,635.1 $ 2,718.9 $ 2,669.7 Recourse Leverage (2) 3.3 3.3 3.3 3.1 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 $ 17,720.9 $ 17,944.2 $ 17,999.5 $ 13,305.8 $ 13,200.2 Less: cash (747.2 ) (741.0 ) (4,984.9 ) (696.4 ) (755.2 ) Total Assets, excluding cash $ 16,973.7 $ 17,203.2 $ 13,014.6 $ 12,609.4 $ 12,445.0 GATX CORPORATION AND SUBSIDIARIES SUPPLEMENTAL INFORMATION (UNAUDITED) (Continued) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Rail North America Statistics Lease Price Index (LPI) (1) Average renewal lease rate change 16.8 % 22.3 % 21.9 % 22.8 % 24.2 % Average renewal term (months) 54 56 58 60 60 Renewal Success Rate (2) 82.6 % 79.1 % 91.4 % 87.1 % 84.2 % Fleet Rollforward (3) Beginning balance 196,233 100,593 101,288 102,317 103,310 Railcars added 690 98,535 920 366 595 Railcars scrapped (878 ) (1,355 ) (898 ) (478 ) (614 ) Railcars sold (3,407 ) (1,540 ) (717 ) (917 ) (974 ) Ending balance 192,638 196,233 100,593 101,288 102,317 Utilization 98.0 % 98.1 % 99.0 % 98.9 % 99.2 % Average active railcars 190,587 193,195 99,999 100,896 102,073 Boxcar Fleet Rollforward Beginning balance 9,888 7,032 7,478 7,621 7,990 Railcars added — 3,411 1 172 27 Railcars scrapped (251 ) (266 ) (365 ) (285 ) (396 ) Railcars sold (501 ) (289 ) (82 ) (30 ) — Ending balance 9,136 9,888 7,032 7,478 7,621 Utilization 97.1 % 97.6 % 97.1 % 96.9 % 98.7 % Average active railcars 9,152 9,895 7,206 7,391 7,773 Rail North America Industry Statistics Manufacturing Capacity Utilization Index (4) 76.1 % 75.5 % 75.7 % 76.1 % 77.8 % Year-over-year Change in U.S. Carloadings (excl. intermodal) (5) 3.2 % 4.2 % 1.5 % 2.1 % 2.4 % Year-over-year Change in U.S. Carloadings (chemical) (5) 2.9 % 3.8 % 0.8 % 1.5 % 1.6 % Year-over-year Change in U.S. Carloadings (petroleum) (5) 7.4 % 7.3 % (1.6 )% (1.2 )% (0.9 )% Production Backlog at Railcar Manufacturers (6) 23,427 23,128 23,431 25,687 29,871 _________ (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). GATX CORPORATION AND SUBSIDIARIES SUPPLEMENTAL INFORMATION (UNAUDITED) (Continued) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Rail Europe Statistics Fleet Rollforward Beginning balance 36,651 36,484 30,572 30,492 30,223 Railcars added 229 355 6,145 328 579 Railcars scrapped or sold (162 ) (188 ) (233 ) (248 ) (310 ) Ending balance 36,718 36,651 36,484 30,572 30,492 Utilization 95.3 % 94.7 % 94.7 % 93.7 % 93.3 % Average active railcars 34,868 34,588 32,671 28,592 28,572 Rail India Statistics Fleet Rollforward Beginning balance 12,508 12,165 11,712 11,112 10,895 Railcars added 343 343 453 600 217 Ending balance 12,851 12,508 12,165 11,712 11,112 Utilization 100.0 % 100.0 % 100.0 % 100.0 % 99.6 % Average active railcars 12,692 12,275 11,905 11,363 10,945 FOR FURTHER INFORMATION CONTACT: GATX Corporation Shari Hellerman Vice President, Investor Relations and Corporate Communications 312-621-4285 [email protected] Source: GATX Corporation