everyone. morning, Good Shari. Thanks, Yeah.
As Shari our said, some importantly, guidance. detail I’ll give to underpinning XXXX more XXXX performance, you some our more brief color get on but
So outperformed Shari year. as repeat gave the North let won’t expectations America. say me was here, That that, started. will our I the I through numbers, but we them you increasingly true move we especially get so Rail in
more in saw press the release, X.X%. you on rates you think just to is flat index where that the drove and a lease now virtually XXXX quarter be pricing in for have I’ll But six pricing As quarters increased in lease in negative minute. consecutive at our we absolute going give lease
by So driven fleet driven the team. it’s diversified composition was demand, our different and excellent our solid pricing by by strength was execution by commercial
values in and for XXXX as America they took fleet values, railcars that gains originally drove harder drove thus enjoyed our factor realize rates the talk we As and not the than they which about planned, we with combined push we into efforts repairs more drive expected. XXXX coming lower also the ongoing high the originally we network, and scrap was continued railroad they lease prices success, they year high the strap last into repairs well. to sold that high lease only for than lower experienced to much year but we churn lower risk, maintenance our renewals North that progressed, expected the secondary more asset around market and costs own The succeeded,
was North America really the advantage strong Rail versus market. it an team year very our a for and So improving of take expectations did
International years. strong and by significant increase. investments XXXX. that to earnings Rail, Turning segment we’ve -- a from and increasing XX% was by few the last million a over their in we profitability from That XXXX was increased expected driven in That underlying increase $XX delivered markets about they continuing profit significant made the they performance over
year. with foreign from with the exchange segment they a the in that drop for to throughout too anticipated, in prior market dealt air much didn’t to business, Within difficult that Partners was down and and prior strengthened to Concerning just Finance lower addition, joint Portfolio leasing in our tank our of was million acquisition they tank headwinds long-haul but XXXX. we year, expectations. relative our profit the Trifleet, the year. asset Rolls-Royce and container the as outperformed that they Worldwide have was our in by $XX continues operate market JV remarketing In deal gains travel container ventures driven profit Management,
XXXX the and might you to with the actually in ended purchase we with Trifleet retention associated up But XXXX expected slightly be acquisition. holdbacks $X.XX agreements and connection price Trifleet dilutive that originally accreted. was As to to being accounting in remember, earnings due
XXXX really businesses. So, our expectations in financial across versus showed summary, performance strong our very
as discussion I a on XXXX, Before Shari XXXX. billion close $X we I out, want indicated, again in over invested point to the
investment coming opportunities by obligated supply deliveries XXXX America. $XXX But from around our North perspective, accomplished steadily million that’s to and in extraordinary that committed $XXX were to was was were year, that other that’s from customers. able our means we for Now agreements asset over team. the performance of proactive million that throughout close that increasing of And with the prices despite my year, railcar take into the total we
to to prices they present so call, asset the high in market, the said had today’s and of increase terms, higher in customers investment close the why that due level our team that rates, to longer all last secure had is investments in asset I many attractive XXXX, economically amortize their tough financially costs. in commit to doing in have so lease advance, to in speculative be to costs. As cases, us extremely success the these it’s in higher in order And lease to investment despite getting earnings to justify them
but our it strong does new our good customer So that is sign things, the sign demand a also team It’s for only that couple there’s has a our a to success not points of market. assets across relationships.
good team to level investment our that by the secure still and of discipline. investment really So, job a maintained
let the access that me by to so market outlook. So capital, strong a turn sheet, business some our America can that excellent first I’ll has XXXX in saying time seems conditions growing North largest some detail to the favorable the point. Rail continued the balance to turned enjoy businesses, International to GATX recovered years, for for the our corner pricing start fleet and Rail the in have and leverage, on experience market point that we
America in in really since boom an been North years, situation Rail early by know, collapsed operating with you crude rail market for a As has XXXX. oversupply
is recovering that heard this Over that natural say market was the and two last us gradually years, attrition. to industry due you’ve fleet
of reduced manufacturing cars. older combination of output, So scrapping it’s with the spurred railcar combined the by
diversified as market in constructed we point to renewal expect think So changes for positive conditions as upon on average recovered to GATX well the that a XXXX. have as fleet the well we fleet, and rate see that lease
price lease to change expect our index X% currently In fact, we XX% to a positive year. show this
time, last in we change noteworthy the for So year a saw as in that’s XXXX. full a pricing a index lease development, positive was
utilization continued anticipate expect with factors net year. all a being that also revenue last for North success, this a America of these slightly effect We higher small increase year, versus renewal Rail lower we
gains we’re good for relatively be car a Looking flat thus on our the costs, into waves But efficiency factor and we’ll the hopper with pressures for further material expense, be from expected continue at strategy The expense that our realize now And In to facilities slow covered three more events disruptions inflationary XXXX. performed network, doing with We’ve seeing in third-party have asset move than the expect outperformed and currently over income. expectations COVID tank in last maintenance own maintenance we America own from work last this net is from labor cost. discuss in currently we net disposition being our we of and to our XX% news story. network it’s maintenance lower well XXXX. XXXX years. will want aggressively Rail been have to North I
railcar for XXXX in very Secondary sales strong. market was
widespread remain prices prices capital. gains America. higher versus and as steel to in is And that’s we to are dispositions scrap As strong North asset we’ll asset appetite high high year. we much and another the low expected, access and cost said, due the Rail year -- on for gains strong prior expect asset investor realize And
XXXX In or to optimize level fact, we we than I’d as say, a fleet. higher similar somewhat continue anticipate our to
market we’ll our act change and So, as changes, always, if the plans will economically. secondary disposition
Rail So the to in net effect XXXX. million range be we North expect the million is up segment profit $XX from America XXXX $XX that to of of all this
and Let Rail me with I’ll Rail International Europe. start GATX move
expect and market we’ve recent lease market As wagon And more wagons more rate as rail robust market. the European fleet. on while that attractive entered we’re in and we years, small continue we in in XXXX, early favorable to existing than that renewal markets the leasing we’ve XXXXs anticipate the as rates, discussed adding X,XXX all remains at since seen the into realize investing we continuing increases
and Indian in year, remains, by of growth, to customer our obviously to in that manufacturing diversify India, COVID an this Europe’s the expected anticipate increase our And of their risk also range still Rail of on million million X,XXX in as increase to a currently to XXXX. $X XXXX. year. this to expected shutdown, fleet So to add their growth over absent year. of wagons shutdown we in That is types, $X profit you significant million due XXXX their to fleet and Rail last to They the the million continue in $X another their existing in mix performance spring expected combination strong in know, curtailed their again profit yet another $X car but growth wave fleet fleet was investment result is new COVID
profit International with in million XXXX. means be $XX to combined the Rail Rail GATX range million to $X that for expected Europe, in is expected that So, segment total growth in
pandemic. joint our continues to trying Management, air to Portfolio that’s partnership be venture, the travel. long-haul RRPF by the full of dependent of given so in of in our the because of hampered as up air recovery said But So timing global on strongly reduction be travel, believe the we the ultimate earlier, with we’ve market. to estimate that I Rolls-Royce Honestly, recovery and ebbs the appears it flows
the the engine to investment in as million attractive focus performance So in continue GATX that we’ll made XXXX. finding improving JC and JV’s the in -- on direct $XXX opportunities, meantime, such investments
corporate GATX’s throughout that low experiencing be in currently to same Rail million Quickly, million due starting we’re business tank inflation, range $X to XXXX million these thus that that’s we and lower expect in are we We to due again some to days the this access corporate we increase of I that due XXXX. combined year. Management enter think and synergies just SG&A International. Trifleet we in to realize purchased $X the -- to also before Trifleet’s to with is at business strong XXXX, lower experiencing costs, offset anticipated $X And some profit Portfolio improved we as that asset RRPF. related to capital. strong profit other cost cost to headcount that XXXX won’t more pressures million should the and But remained occur everyone but market the costs and and customer growth related lastly, the activity investment segment employee we increase by wage $X And primarily at said, as did So, container at XXXX. leasing also expect market in efficient Trifleet, in I remarketing
will So our some due right slightly a will adjustments now lower effect corporate costs essentially expect XXXX in profit, lower to rate. and to $X.XX of always, flat and close be costs and significant results per Again, I XXXX. this that is be assumes this be all in net this share by per XXXX It’s dividend, or for in disruptions The segment that share the COVID-related the want repurchase in a the can we of flat Board The Friday. XXXX share plans projected share a to few of year. that should corporate the mark our in will range you discuss in reoccur as earnings year diluted two XXXX. a again that, rate last paying point item XXXX match. XXXth not no in tax our meets the dividend. resume of record SG&A per consecutive of tax year. $X.XX They reminding diluted expectation increase to year SG&A and this will tax our assumption The GATX this track very
record that time. the a our the and importance long streak dividends success Obviously, So our our century example understands we’ll announce and is of of decision I to Board that at commitment of great long-term the shareholders. think
again largest stress confident yet in the we expectation in investments employees our to want to we positive are our that confidence making well trends revenue time between that years, very that us come. over and will plan first So, GATX business, once in and years shareholders really the for XXXX again, I’m our to execute reward will I six see the that continue for
you had. can up I all that’s to Operator, it questions. So open
