me these fan like you Okay. our at listened of and recent get earnings presentations Thanks, But the few and you'll right I'd color our to on know I it Q&A. Good if a XXXX we for put can prepared to slide guidance press of that indulge comments while Those that performance release. a a and Shari. detail to into to behind everyone. some you of morning, our minutes, for like more canned calls calls that we're have just long beginning the not give a
let that, dive with in. me So
In we outperformed as coming Shari said into again, release. as the XXXX, and out press expectations laid just in the our earning year,
items, positive and the $X.XX diluted $X.XX compared our $X.XX to tax had other that of the we share in are We adjustments of deducting net to and guidance per original after share. effect per
of If American Rail, Rolls-Royce producing American our it joint we you where and in earnings ventures, was look at Steamship outperformed, excess all original North our expectations.
driver primarily XXXX outperformance higher profit than it close largest usually due single America. does, of at segment expected revenue this was relatively lower maintenance net and and it performed the North expectations revenue. to lease to Looking maintenance in original our was Rail XXXX, expense, In lower as
repairs a network that percentage As performed customers. of higher in XXXX from we conference the reimbursable on we indicated repairs prior of are calls, our that contained mix in
in collecting place we've been We way issues liability identify them. those in systematic systems and to more have better for
both in fixed efficiency also In our coming addition, the repairs anticipated field lower improve repair and into we railroad year. than and network, did were the we
consistently has mentioned, performance that keeping maintenance to that but one, course to great to that performance improvements spend also last avoid to realize years, been maintenance overestimated by team our I I dollars two preparing maintenance us net on organization's great has few efficiency helps move there been XX% at customers. commercial expense the new the year due just in utilization, fleet coming our having the and over cars things; in of Now we've and into the the to
the the is and plans So with continue these maintenance record my commercial years improvements. perform, implemented currently predicting of really efficiency they've a well spotty despite and I'm few job made being actually last how our overall, done great strides pleased organizations there they've and to
segments. outperforming two other the quickly, So
First, American favorable levels favorable weather operated throughout water conditions year. the Steamship, an extremely in and
although originally tonnage than planned. so they lastly, Clair, did carried of And than segment in So they efficiently, originally the we due they and to XXXX more generated less St. the profit anticipated loss more much great realization segment they the over another volume for joint year exceeded show Rolls-Royce expectations. in our is They residual our had for excellent that million. Their consecutive to at ventures, continue profit second $XXX investment.
strong at XXXX, businesses outperformed in we our tough market across extremely the an of our end largest original team our American performing business, other well. We North here very expectations. So despite is performance rail and produced the looking
our to liquidity, sheet opportunities here investment today sitting have and very as pursue. attractive we balance is Our strong is
moving So for that to XXXX. outlook
uncertainty what Given guarded, outlook best see American their our the is segment North in America profit rail I might describe expect to in general economic relative for and given today, outperformance especially you North we political XXXX.
in to profit million. that decrease million again driver on of we rail, $XX Main to $XX revenue is do continued declining the existing XXXX fleet. moving segment So North decrease expect to approximately by American
and will our in we that moved expect fleet car last calls lease of in throughout that the renewed all somewhat We're North American a most to rates positive decrease we $XX we year. effect as and mentioned declines the the on continued net results fleet is intensifying revenue project small lower that currently expecting this about X%. due decrease also the move Competition XXXX about that's momentum million, the million rate the oversupply further And in in As saw lease by to $XX XXXX, of obviously did we market, that to year XXXX. the utilization. through revenue throughout rail across stall is as year, in we in leases
Moving to do and I what said XXXX. our just we it net in accurately, difficulty in maintenance an expense, predicting increase acknowledging recent expect about
well $X in $XX increase to expectation that's to fleet rail fleet, we'll are utilized, to expected maintenance the $X cost should those That over as be million said, and work to gains and to of keep see a our as to will due expect commercial rate XXXX. XXXX, Increased the higher. segment cost months. million of maintenance will to is renewal and expense, in about and profit drop due to success maintenance be that million I million. in investments, cars seen current to the meaning increase efficiency really for XXXX But So to we XXXX year-over-year new contribute last higher churn increased offset to range XX we've profit the ownership the need network that that to reduce that's costs customers the primarily in assigned $XX North American drives continue cost in lower segment and the by more
mention income. remain asset to disposition could And optimize Rail the and income strong, through major lower continue is asset decline XXXX and to change We secondary for drove in of our most that last factor North XXXX. did versus market in disposition always scrapping, railcars XXXX, year. the prior the market as of rates see scrapping But railcar secondary America in sale But we sales opportunities the for and the in fleet do. we
$X look primarily on fleet railcar as is plans, don't the we million last But also in disposition higher this for the losses our we gains sales XXXX. level experienced income at range you should current to If million, $XX see we well. anticipate in expectation year's could our because asset scrapping exceed that year of
GATX Let me I'll with address International start Rail Europe. Rail.
all LPG, throughout As markets chemical very are strong we throughout the oil, year. the discussed XXXX, mineral
We in continue rate lease to increases markets. those see
a that in segment there addition, accelerate investment, actually expect to certain total car car added In and I especially profit in growth to XXXX. freight are fleet XXXX, in new types
and But we maintenance. range. profit in higher Rail So increasing from segment will fleet that up utilization, million GATX $XX expect profit Europe, at growth million growth fleet to be scheduled rates profit the be is lease in this currently $X by higher somewhat segment the to the offset
factors approval fleet seeing news strong the They in much rate to their almost have They as cars higher by committed growth Indian now. GATX continue good we're India to in I've They're fleet investment expect are in our and fleet of in right fleet at for, XX% Railways new to past, diversify said customers. and in car is relative And Rail utilization increased mix. similar their investing size India. the securing remains and continues projected young there. types. that other The they're a Turning XXXX. X,XXX XXXX already XXX%. to in jurisdictions, lease Their growth fleet. such I for profit Their
increase for XXXX. million Combined that total expect means be we the $XX million in GRE segment Rail India in with segment in to profit growth that million given International by million So growth to to profit expected outlook, in $X range. that should $X $XX
strong be it year in XXXX, favorable year. expect tonnage At But for operationally from vessels. Steamship, year XX I they'll similar they Based operating versus water and customers, American with the carry another levels we're tonnage complement in the of XXXX. again said after a on slightly full current less nominations like as last looks forecasting to
will in So XXXX. earn profit the current expectation segment slightly they to flat lower is,
Management. Portfolio And lastly,
years we They've from consecutive strong more these joint at in over our of As residual improving performance some I joint realization, remaining marine ventures excellent investments. and of had expect each $XXX XXXX, had volume we've and investment Rolls-Royce million ventures, same year. our the said, the financial record fleet -- two at performance,
is Management is range $XX So to $XX expected million that this Portfolio year. million in profit net effect the increase the to segment for
profit that's unit. So what's each business at segment driving
some not If the that and across had they million had look and we way down realize originally up we planned about That's planned, we due payments cost $X you in as in higher line. but actually the cost performance at the Company did Rail from drove statement America line, SG&A, SG&A much savings showed financial operating stronger to incentive as income was maintenance our by SG&A North work prior did primarily for shortfall in we that the that instead the reduce year. XXXX your
trying SG&A spending the So the on savings to geography were XXXX, constant In was we XXXX. wrong. there, hold plan with
few to tax our sources. of in a rate, projected due income XXXX points be those it's coming On from percentage higher lower to the non-U.S.
relatively XXXX what guidance GATX in with income net for XXXX. continued gets share to diluted puts us XXXX with this $X.XX repurchase. at per all to flat $X.XX That's of net the So and share our of
to you Before for a companies I here pause commercial dividend; marks can XXXX end, that paying that our year a and record do match. of remind XXXnd want track consecutive few the I
discuss, They say, of next share does week. topics meet discover Board Our variety -- dividend, including I repurchase. should a
will dividend, to of the our the we shareholders. think record dividend decision So that long commitment understands century They Board at -- and time. long-term importance success example is of our announce and a certainly our great I streak the of the
other strategy is outstanding volatile And markets largely leasing our pleased a other Unfortunately, market. to I'll attractive offsetting that XXXX executing plan. experiencing did an and Rail. employees GATX of leasing American in we're grow in saying, in by our very in again I'm American diversify seeing weakness outside markets close really and we're the benefits North railcar the these performance And this of our competitive job North
for So continue this XXXX to will beyond. in and we -- performance
with and go up that, it And questions. open let's operator, ahead to
