GATX Corporation (NYSE: GATX) has recently elected John M. Holmes to its board of directors, with Mr. Holmes also serving as a member of the board's Audit Committee. Following this appointment, the GATX board will now consist of 10 members, including nine independent directors.
Robert C. Lyons, president and chief executive officer of GATX, expressed his enthusiasm about the new addition, stating, "We are pleased to welcome John to GATX's board of directors. John is an outstanding business leader with deep international experience and a strong track record of performance. His insights will be an asset to GATX as we continue executing our global growth strategy."
Chair of the board of directors, James B. Ream, also commended the appointment, noting, "John is an excellent addition to our group of independent directors. With his extensive knowledge of the global aviation industry and operational and financial expertise, John will provide valuable perspectives to GATX."
Mr. Holmes, aged 47, currently holds the positions of chairman, president, and chief executive officer of AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government customers. He joined AAR in 2001 and has held various leadership roles within the company, culminating in his current positions. Mr. Holmes brings with him a wealth of experience in the global aviation industry, as well as a background in investment banking and private equity.
GATX Corporation, headquartered in Chicago, Illinois, specializes in leasing transportation assets such as railcars, aircraft spare engines, and tank containers to customers worldwide. The company has a long-standing commitment to providing innovative and unparalleled service to enable safe and sustainable transportation, while also prioritizing the well-being of its employees and communities. Additionally, GATX has a remarkable record of paying uninterrupted quarterly dividends since 1919.
In the wake of this announcement, GATX's shares have experienced a marginal movement, decreasing by -0.1% and currently trading at a price of $126.35.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $1,175 | $1,202 | $1,209 | $1,257 | $1,273 | $1,365 |
| Revenue Growth | n/a | 2.3% | 0.59% | 3.99% | 1.24% | 7.22% |
| Operating Margins | 15% | 12% | 10% | 16% | 14% | 18% |
| Net Margins | 18% | 18% | 13% | 11% | 12% | 18% |
| Net Income (MM) | $211 | $211 | $151 | $143 | $156 | $242 |
| Net Interest Expense (MM) | $163 | $180 | $190 | $204 | $214 | $248 |
| Depreciation & Amort. (MM) | $327 | $333 | $343 | $378 | $371 | $383 |
| Earnings Per Share | $5.52 | $5.81 | $4.27 | $3.98 | $4.35 | $6.71 |
| EPS Growth | n/a | 5.25% | -26.51% | -6.79% | 9.3% | 54.25% |
| Diluted Shares (MM) | 38 | 36 | 35 | 36 | 36 | 36 |
