GATX Corporation (GATX)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	317,900	309,900	285,700	210,100	210,700	224,100	235,800	249,600	196,300	144,000	149,200	174,100	188,600	229,500	224,400	261,700	252,200	222,700	228,200	194,800
Revenue (ttm)	US$ in thousands	1,410,900	1,364,900	1,325,800	1,295,300	1,273,000	1,271,300	1,263,800	1,268,200	1,257,400	1,241,300	1,232,200	1,215,600	1,209,200	1,204,800	1,199,200	1,196,200	1,202,100	1,258,000	1,308,900	1,360,900
Pretax margin		22.53%	22.70%	21.55%	16.22%	16.55%	17.63%	18.66%	19.68%	15.61%	11.60%	12.11%	14.32%	15.60%	19.05%	18.71%	21.88%	20.98%	17.70%	17.43%	14.31%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $317,900K ÷ $1,410,900K
= 22.53%

To analyze the pretax margin trend of GATX Corp., we can observe a pattern of fluctuation over the past eight quarters. The pretax margins have ranged from a low of 16.22% in Q1 2023 to a high of 22.70% in Q3 2023. The company experienced a downward trend in Q1 2023 compared to the previous quarter but then rebounded in Q2 and Q3 of 2023, showing an improvement in profitability.

Overall, GATX Corp. has demonstrated relatively consistent profitability, with pretax margins hovering around the mid to high teens to low twenties percentages. It is important to note that the pretax margin indicates the efficiency of the company in generating profits before accounting for taxes and interest expenses. The upward trend in recent quarters could signify improved operational performance or cost management strategies implemented by the company.

Further analysis of the underlying factors contributing to these fluctuations, such as revenue growth, cost control measures, and changes in operating expenses, would provide additional insight into the company's financial performance and sustainability of its profitability.