GATX Corp (NYSE: GATX), a leading railcar leasing company, saw its stock surge 5.06% in pre-market trading on Thursday, following the release of its fourth-quarter and full-year 2024 financial results.

The company reported a stellar fourth-quarter performance, with net income reaching $76.5 million, or $2.10 per diluted share, up from $66.0 million, or $1.81 per diluted share, in the same period last year. For the full year 2024, GATX Corp achieved net income of $284.2 million, or $7.78 per diluted share, surpassing the $259.2 million, or $7.12 per diluted share, recorded in 2023.

The strong results were driven by several key factors, including:

• Steady demand for existing railcars in North America, leading to high fleet utilization and attractive lease renewal rates.
• Continued growth in the Rail International segment, with increased railcar investments and higher lease rates across most car types.
• Robust performance from the Engine Leasing segment, driven by strong global demand for aircraft engines and the company's investments in expanding its wholly owned engine portfolio.

Looking ahead, GATX Corp's management expressed confidence in the company's future prospects, initiating earnings guidance for 2025 in the range of $8.30 to $8.70 per diluted share. This outlook surpassed analysts' consensus estimate of $8.35 per share, reflecting the company's optimism about continued growth across its core businesses.

"Based on our current outlook, we expect 2025 earnings to be in the range of $8.30–$8.70 per diluted share," said Robert C. Lyons, GATX Corp's President and CEO. "We believe these disciplined investments will continue to drive earnings growth at GATX in 2025 and beyond."