Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries GATX Corporation Announces Modification to Its Lease Price Index (LPI) Calculation By: GATX Corporation via Business Wire July 06, 2023 at 08:30 AM EDT GATX Corporation (NYSE:GATX) today announced a modified methodology for its Lease Price Index (LPI) calculation. This modification, accompanied by historical data dating back to the introduction of the LPI in 2008, is intended to provide investors and other constituents with a more complete representation of lease rate and lease term performance on renewals across GATX’s North American railcar fleet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230706382437/en/LPI – Modified Methodology (Effective beginning 2023 second quarter) (Graphic: Business Wire) The LPI is an internally generated business indicator that measures renewal activity for GATX’s North American railcar fleet, excluding boxcars. 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. Under the previous methodology, the LPI calculation included a subset of the renewal activity during the reported quarter that were judged to be representative of GATX’s North American non-boxcar fleet, and those renewals were weighted by fleet composition. This methodology resulted in the exclusion of certain renewal transactions from the calculation. Since the introduction of the LPI in 2008, GATX’s North American railcar fleet has continually become more diversified, which warrants reporting the LPI in terms of the entire non-boxcar fleet, rather than a subset. The modified methodology aims to more consistently reflect actual trends in renewal lease rates and renewal lease terms across GATX’s North American non-boxcar fleet. Under the modified methodology, the LPI calculation will include all renewal activity based on a 12-month trailing average, and the renewals will be weighted by the count of all renewals during the reported period. Beginning with the second quarter of 2023, GATX will report LPI based on the modified methodology and will retire the previous methodology. Annual historical LPI data on a comparable basis is provided in the charts and tables below. Quarterly historical LPI data on a comparable basis is available on GATX’s Investor Relations website. Renewal Lease Rate Change of the LPI Modified Methodology (Effective 2Q 2023) Previous Methodology (To be retired) 2007 9% 14% 2008 5% 5% 2009 -7% -11% 2010 -14% -16% 2011 5% 7% 2012 24% 26% 2013 27% 35% 2014 35% 39% 2015 28% 32% 2016 -21% -20% 2017 -24% -28% 2018 -4% -10% 2019 -1% -4% 2020 -22% -24% 2021 -7% -9% 2022 24% 23% Average Renewal Term Included in the LPI (Months) Modified Methodology (Effective 2Q 2023) Previous Methodology (To be retired) 2007 73 67 2008 55 63 2009 43 41 2010 38 35 2011 45 45 2012 67 60 2013 64 62 2014 68 66 2015 69 54 2016 46 32 2017 43 33 2018 41 38 2019 47 39 2020 39 31 2021 47 32 2022 52 33 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. 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 “Investors” tab. View source version on businesswire.com: https://www.businesswire.com/news/home/20230706382437/en/Contacts Shari Hellerman Senior Director Investor Relations, ESG, and External Communications GATX Corporation 312-621-4285 shari.hellerman@gatx.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
GATX Corporation Announces Modification to Its Lease Price Index (LPI) Calculation By: GATX Corporation via Business Wire July 06, 2023 at 08:30 AM EDT GATX Corporation (NYSE:GATX) today announced a modified methodology for its Lease Price Index (LPI) calculation. This modification, accompanied by historical data dating back to the introduction of the LPI in 2008, is intended to provide investors and other constituents with a more complete representation of lease rate and lease term performance on renewals across GATX’s North American railcar fleet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230706382437/en/LPI – Modified Methodology (Effective beginning 2023 second quarter) (Graphic: Business Wire) The LPI is an internally generated business indicator that measures renewal activity for GATX’s North American railcar fleet, excluding boxcars. 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. Under the previous methodology, the LPI calculation included a subset of the renewal activity during the reported quarter that were judged to be representative of GATX’s North American non-boxcar fleet, and those renewals were weighted by fleet composition. This methodology resulted in the exclusion of certain renewal transactions from the calculation. Since the introduction of the LPI in 2008, GATX’s North American railcar fleet has continually become more diversified, which warrants reporting the LPI in terms of the entire non-boxcar fleet, rather than a subset. The modified methodology aims to more consistently reflect actual trends in renewal lease rates and renewal lease terms across GATX’s North American non-boxcar fleet. Under the modified methodology, the LPI calculation will include all renewal activity based on a 12-month trailing average, and the renewals will be weighted by the count of all renewals during the reported period. Beginning with the second quarter of 2023, GATX will report LPI based on the modified methodology and will retire the previous methodology. Annual historical LPI data on a comparable basis is provided in the charts and tables below. Quarterly historical LPI data on a comparable basis is available on GATX’s Investor Relations website. Renewal Lease Rate Change of the LPI Modified Methodology (Effective 2Q 2023) Previous Methodology (To be retired) 2007 9% 14% 2008 5% 5% 2009 -7% -11% 2010 -14% -16% 2011 5% 7% 2012 24% 26% 2013 27% 35% 2014 35% 39% 2015 28% 32% 2016 -21% -20% 2017 -24% -28% 2018 -4% -10% 2019 -1% -4% 2020 -22% -24% 2021 -7% -9% 2022 24% 23% Average Renewal Term Included in the LPI (Months) Modified Methodology (Effective 2Q 2023) Previous Methodology (To be retired) 2007 73 67 2008 55 63 2009 43 41 2010 38 35 2011 45 45 2012 67 60 2013 64 62 2014 68 66 2015 69 54 2016 46 32 2017 43 33 2018 41 38 2019 47 39 2020 39 31 2021 47 32 2022 52 33 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. 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 “Investors” tab. View source version on businesswire.com: https://www.businesswire.com/news/home/20230706382437/en/Contacts Shari Hellerman Senior Director Investor Relations, ESG, and External Communications GATX Corporation 312-621-4285 shari.hellerman@gatx.com
GATX Corporation (NYSE:GATX) today announced a modified methodology for its Lease Price Index (LPI) calculation. This modification, accompanied by historical data dating back to the introduction of the LPI in 2008, is intended to provide investors and other constituents with a more complete representation of lease rate and lease term performance on renewals across GATX’s North American railcar fleet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230706382437/en/LPI – Modified Methodology (Effective beginning 2023 second quarter) (Graphic: Business Wire) The LPI is an internally generated business indicator that measures renewal activity for GATX’s North American railcar fleet, excluding boxcars. 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. Under the previous methodology, the LPI calculation included a subset of the renewal activity during the reported quarter that were judged to be representative of GATX’s North American non-boxcar fleet, and those renewals were weighted by fleet composition. This methodology resulted in the exclusion of certain renewal transactions from the calculation. Since the introduction of the LPI in 2008, GATX’s North American railcar fleet has continually become more diversified, which warrants reporting the LPI in terms of the entire non-boxcar fleet, rather than a subset. The modified methodology aims to more consistently reflect actual trends in renewal lease rates and renewal lease terms across GATX’s North American non-boxcar fleet. Under the modified methodology, the LPI calculation will include all renewal activity based on a 12-month trailing average, and the renewals will be weighted by the count of all renewals during the reported period. Beginning with the second quarter of 2023, GATX will report LPI based on the modified methodology and will retire the previous methodology. Annual historical LPI data on a comparable basis is provided in the charts and tables below. Quarterly historical LPI data on a comparable basis is available on GATX’s Investor Relations website. Renewal Lease Rate Change of the LPI Modified Methodology (Effective 2Q 2023) Previous Methodology (To be retired) 2007 9% 14% 2008 5% 5% 2009 -7% -11% 2010 -14% -16% 2011 5% 7% 2012 24% 26% 2013 27% 35% 2014 35% 39% 2015 28% 32% 2016 -21% -20% 2017 -24% -28% 2018 -4% -10% 2019 -1% -4% 2020 -22% -24% 2021 -7% -9% 2022 24% 23% Average Renewal Term Included in the LPI (Months) Modified Methodology (Effective 2Q 2023) Previous Methodology (To be retired) 2007 73 67 2008 55 63 2009 43 41 2010 38 35 2011 45 45 2012 67 60 2013 64 62 2014 68 66 2015 69 54 2016 46 32 2017 43 33 2018 41 38 2019 47 39 2020 39 31 2021 47 32 2022 52 33 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. 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 “Investors” tab. View source version on businesswire.com: https://www.businesswire.com/news/home/20230706382437/en/
Shari Hellerman Senior Director Investor Relations, ESG, and External Communications GATX Corporation 312-621-4285 shari.hellerman@gatx.com