Jun 13, 2023 / 03:15PM GMT
Allison Poliniak - Wells Fargo - Analyst
Welcome again, I'm Allison Poliniak, the research analyst at Wells Fargo covering industrial technology and transportation. And up next, we have GATX, a railcar leasing business. And Bob Lyons, the company CEO is here with us today.
Questions and Answers:
Allison Poliniak - Wells Fargo - AnalystSo, Bob, just to kick it off, we're seeing all the railcar loadings, it's horrible. Nobody wants to use rail anymore, we're in a freight recession. Why is leasing such a good business? And how are you guys managing the environment?
Bob Lyons - GATX Corporation - President and CEO
Well, I would say the cycle is different this time around than ones in the past because the lease rates on existing cars are being much more driven by the supply side. And so, it's been more of, as you would guess, more of a supply-led recovery and lease rates versus demand. Now, we would love for demand to kick in but right now our customers are much more in the mindset of holding onto the equipment they
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