you we thank I'll comments to and gave release. XXXX call morning's outlook Thank all year, brief you, for coming color some provide XXXX and the try provide on had the today. Shari, press this some in the the guidance we on into versus additional joining performance then
employees want effort and focus I they've India, the to Rail put over in, continued all businesses, America, thank Across past GATX our Europe, jumping Rail Rail for GATX forth their Before GATX the of our Trifleet, North and goal shareholders. and that our we'll high with and business engine leasing attractive expect continuing returns of for risk-adjusted our very the XXXX, generate everyone partnership I momentum performed carry a fully Rolls-Royce, to into with at all year. level.
let's start We by And One, Rail our so did two, Management try So, briefly. XXXX, North do better outperformed at looking than first for two key to expectations same. Portfolio I'll performed the initial planned. reasons. and America back
bit planned. year, of a That We our our America, the look to full-year in to at in continue specifically took for of the the updated one guidance middle came At we more the activity. let's of secondary strong than in -- of in So, XXXX, each advantage those. middle on market we opportunity little Rail back-half higher based earnings the continued the North year full of the fleet. so optimize
lease were key cars rates to stronger holding the to retaining that throughout railcars rate planned. There was host fleet. this. things Therefore, customers the and led revenue year factors environment of is a had very in Second, that one existing their than was, on But came increased the focused lease for very lease favorable. the existing were in they of on
excellent an did Our job. commercial team
the And with you expense. on was, which release. are positive the churn when renewal is railcars fewer we in maintenance a success as that events, a has as impact in with up rate, it and indicated very Third, service there high existing demand expected fleet there's press for less end high
the coming Rail had solid and America a recipe maintenance remarketing expense. good So, at [lower North summary, higher year. versus higher into net] expectations And ended the in [Ph] gains, that's revenue, we up for very year, with a we
of Rail America in for those reporting increase year. segment a All substantial factors profit to led the North
joint course Within muted, Portfolio the year, in was of pretty story Leasing while air potentially and travel recovered. segment & well profit international Engine during credit below posting Management assumed. Rolls-Royce We pre-pandemic to levels, than higher And at at income even Finance, issues outlook it's the higher with that our pandemic, venture, still our to drove planned joint led customer negative. Management. entered our we fairly deal straightforward. Portfolio Those Partners having the trend the mired is than operating so And But venture, factors was helpful. year the the fewer
us The than overcome International. enabled profit performance of Rail to lower segments those two expected at segment
teams with the led market significant with versus to plan. led While and delayed fact railcar deliveries Ukraine In demand supply That significant the strong, in contend issues. Rail India, Europe our chain to the in been Europe disruption. International India was war had to that to deal very had and
very of had rates headwind. did an manning about prospects like these internationally. job our challenges, to day. in to FX as and day note also I are the we quite our We a positive volatile outstanding our And But serving would business face teams
on in last My XXXX comment invested our over that markets. core is billion $X.X
the find at to So, testament capital continue to attractive of continue in a do lots. in to our That’s returns. despite rising comes at Much one participate. to It’s volume to markets into prices, hallmark customers, a and renewals, reach returns. put the of drive and what lot to we that team, enables to asset to GATX have work us a our opportunities we small we very like investment our which railcar we
in implies EPS would XX% the represent of XXXX very year XXXX, as expect range XXXX. of The exceptional noted range especially another posted results. $X.XX Let’s following of double to share. EPS strong in This that the digit to another of to we diluted adjusted be growth turn Shari year, $X.XX the of per midpoint EPS growth approximately
the on main So, Within lease looking rate drivers America, full-year very move we above XXXX. LPI we of North expect to the the achieved year at rates. another of the terms Rail And in coming let’s in the of ahead. are good for year for we some XX%
the last years. the lease year in $XX With expense increases rate into maintenance to ahead. year flowing see rates, the full-year We million we continued reduced increases impact million each few up of in $XX year’s of and revenue net in sequentially this
has truly our -- team a done operation’s Our team job. outstanding
the we network. shop improvements made in investments We are the efficiency fully our maximizing and
expense increase pressure will higher with $X leads we us to inflationary XXXX. $XX expectations along XXXX. net in will repairs of some in However, railroad That that our slightly feel service maintenance million million events to
results not interest it impact financial As continue rates rise it’s a in in year. last the more to our did have the XXXX. meaningful year, significant But, over course last of
We Rail are not don’t going certainly XXXX. where economists. impact bottom more We feel be because that in to North rates of to higher We will the wrong. go don’t will America. And we’ll market. try interest But, at we play predict they are
the America right we market. see very, at strong had in increasing So, year in performance very now total $XX ahead. North where million sit $XX Rail We expense the million to se interest secondary
assets levels highly high. we of regardless having are of market bring people, one to diversified portfolio. other investors benefits remains of assets very Demand It’s that Is can for a that to interest our same the of macro in heightened the remarketing expect other interest this at year. XXXX, come the or continuing cycle or in see that rates past saw that to We events. we and we
profit segment increase at to factors, up over So, strong XXXX North expect incorporating already American $XX these million to we Rail results.
Rail similar supply continue level to a turns the GATX demand growth In the the wagons are as given India. International, issues positive seeing anticipate and I for to to expectation, Europe. At GATX correct chain that both very Europe a take segment XXXX, to is in in Rail looking And to that be we right mentioned, fleet out XXXX profit Hopefully, now it’s past add strong. Europe we year. but cautious one contribution to from our
--strong in India us our to to continues keep them can are an every is is challenge. of And overall market Many develop. the for But the we Europe get lease higher. In wagons know delivering. there stickier team rates the has now whether moving are we demand outstanding across done up Importantly, wagon demand is of type. you seeing India, a rail right issue in moving Quite pace demand. And in team job only to access with rates frankly, Europe.
are There in suppliers have base more we is India. closely make all that working limited a sure access. And our manufacturing of to we with
demand strong to the following wagons million a We Based are roughly in Rail $XX in on looking XXXX. XXXX. profit ahead increasing we add the International to at XXXX XXXX million over of see segment in addition year internationally, $XX
engine and both activity Management, the Portfolio at through and obviously At biggest is our leasing Partners Rolls-Royce direct our investments. Finance driver
we of the release, fourth in quarter. we directly added to $XXX noted worth As the engines million press in owned portfolio our
the from engines. XXXXX in directly with see of will the impact existing that along We contributions and continued owned
and venture albeit improvement health the at air expect a joint Also of airlines. level, the continued in steady international gradual we improvement in see travel to
in million As Management we profit million in we to segment income. $XX growth a operating $XX anticipate overall And increasing Portfolio at result, continued see XXXX.
consolidated of on Let line me a couple comment items.
across is SG&A in will positions. will recent line We But We to itself higher facing SG&A inflationary And at we in very see have everyone manifest plan expense wages the long the GATX in years. held some higher pressures sell well board. ahead. year in vacant the unfortunately,
XXXX. pension on million. see other of approximately decline $XX SG&A we where increase a expect to million expense line But is in our flipside, recognize we to So, on forecast $XX the expense, our
expense other So, are SG&A those largely to two expected and offset.
$X.XX I So coming XXXX, drive of guidance share. at similar to items the level rate our $X.XX mentioned just per a to with our earnings tax
will being we a billion volume, XXXX be excellent investment at another Looking year. in again which north anticipate of
But hard be have footprint to place will in doing we team global find year. are really I to did going like confident We we to opportunities this and past we work successful so. the am franchise, those our have in and with just
me In final also GATX is the I with on dealt with would in guidance I and also ever and the comment just are XX-year-people with the my who outlined, the years they this that assumptions the say And have are here at here. of Tom, XX today, unpredictable here and same. most the GATX Paul environments one
variability continues there chain and lapse not is into rates in at supply an economic were America adds and to North war over last factors Will so we months, assumptions perfectly inflation acute as outlined. interest play on? Will elevated recession? be a they mention landing? we these the feel levels XX and I on, And because about have may have a The the and we remain to Europe, we of soft how issue. position in recession Will global out. clear, a very issues I are that they macro as while But good in Ukraine uncertainty. but still avoid the be this regardless we
will our on the continue clearly outlook communicate with progresses. you as We to year
get this dividend. On question about usually call, we a
that as are equally are that let GATX, the Few XXXX XXXth we marks mark. we at of. that address extremely So, match me years. now. paid can we consecutively for fact something proud dividend proud now XXX of our have anniversary companies And
regularly scheduled Board a this have Friday. We meeting
value consider for the we time, our decades. the going supportive you, course, shareholders. and how But GATX all Board those have is forward. of our to policy will that important of which shareholders, the dividend of been understand And we During especially, dividend
employees please to announcement onset on go end the thank of the at an want employees work the who at questions, I to while week. of maintenance So, dividend before close network. for especially I the And on our our on thanked we to our look call, the
they network, We a they've around they've our workers And instrumental diligently, do. most or in and week through and in safely appreciate thousand and importantly, we to people fail. six straight globe have worked have the the pandemic. efficiently, the days without and been operations success, over all our essential a They're been five they shops
So, thank you.
go Q&A. to with that, And let's
