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GATX Selects Lyons as New CEO, Incumbent to Retire in '22

By Zacks Investment ResearchStock MarketsDec 07, 2021 09:30PM ET
www.investing.com/analysis/gatx-selects-lyons-as-new-ceo-incumbent-to-retire-in-22-200610899
GATX Selects Lyons as New CEO, Incumbent to Retire in '22
By Zacks Investment Research   |  Dec 07, 2021 09:30PM ET
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GATX (NYSE:GATX) Corporation’s GATX president and CEO, Brian A. Kenney, is set to retire on Apr 22, 2022. He will continue to serve on GATX’s board of directors as non-executive chairman until Oct 31, 2022, to facilitate the transition process. Mr. Kenney will be succeeded by the current executive vice president and president, Rail North America, Robert C. Lyons.

Kenney stated, “It has been a privilege to serve as CEO for the past 17 years and to work with the most dedicated team in the industry”. Kenney was elected as GATX’s chairman of the board in October 2005, after being elected as the CEO in April 2005.

Kenney, during his tenure, successfully expanded the portfolio of assets organically and through strategic acquisitions. GATX was able to consistently generate industry-leading financial returns. Kenney has also been instrumental in expanding opportunities for individuals from all backgrounds within GATX’s worldwide operations.

Lyons, stated, “Together with the GATX leadership team and all our colleagues, I will build on the strong foundation and strategy that Brian established and ensure we continue to provide innovative, unparalleled service to our customers. With the dedication of our outstanding employees, I am excited about the future of GATX as we grow our global businesses, operate safely, and deliver strong results for all our constituents.”

We expect that under the guidance of the new CEO (Robert C. Lyons), GATX will yield the desired results and fully recover from the COVID-led crisis.

Zacks Rank & Stocks to Consider

GATX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. KNX, Landstar System (NASDAQ:LSTR), Inc. LSTR and C.H. Robinson Worldwide, Inc. CHRW.

The long-term expected earnings per share (three to five years) growth rate for Knight-Swift is pegged at 15%. KNX is benefitting from an improvement in the adjusted operating ratio. Notably, the adjusted operating ratio improved to 82.8% in the first nine months of 2021 compared with 86.6% reported in the first nine months of 2020. In third-quarter 2021, the metric improved to 81.3% from 83.9% a year ago.

The uptick in adjusted operating ratios was primarily driven by higher revenues in the Trucking, Logistics and Intermodal segments. Lower the value of the metric, the better. KNX has surged 45.1% in the past year. Knight-Swift sports a Zacks Rank #1.

The long-term expected earnings per share (three to five years) growth rate for Landstar is pegged at 12%. LSTR is benefitting from a gradual recovery in the economy and freight market conditions in the United States.

LSTR’s top and the bottom line increased substantially in each quarter from the third quarter of 2020, owing to robust revenues in the primary segment — truck transportation. LSTR has surged 24% in the past year. Landstar carries a Zacks Rank #2 (Buy).

The long-term expected earnings per share (three to five years) growth rate for C.H. Robinson is pegged at 9%. CHRW benefits from higher pricing and volumes across most of its service lines. Total revenues jumped 42.4% year over year in the first nine months of 2021, with higher revenues across all the segments.

CHRW’s measures to reward its shareholders are encouraging. Driven by the tailwinds, the stock has moved up 3.4% in the past year. C.H. Robinson holds a Zacks Rank #2.


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GATX Selects Lyons as New CEO, Incumbent to Retire in '22
 

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GATX Selects Lyons as New CEO, Incumbent to Retire in '22

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