KFDA - NewsChannel 10 / Amarillo, TX: newschannel10.comGATX third-quarter profit falls 73 percent
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CHICAGO (AP) - Rail and marine leasing company GATX Corp. said Thursday that its third-quarter profit fell more than 73 percent to $19.6 million as sales plunged 27 percent.
The net income for the three months ended Sept. 30 was equivalent to 42 cents a share, compared to a profit of $73.9 million, or $1.46 a share, a year ago.
Revenue in the quarter fell to $276.5 million from $380.4 million a year ago.
Analysts surveyed by Thomson Reuters, who generally exclude one-time items from their estimates, were expecting third-quarter earnings of 42 cents a share on revenue of $288.9 million.
The company said it continues to expect full-year earnings to be in the range of $2 per share, excluding certain items.
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