Recent Earnings

GATX Reports Q1 Earnings Slip on Railcar Oversupply, Backlog

GATX reported Q1/17 net income of $57.5 million was down 17% from $69.3 million in Q1/16. The railcar lessor noted, “continued railcar oversupply, manufacturing backlog and low fleet utilization combined to prevent lease rate improvement in Q1.” read more

Key Reports 55.5% Increase in Q1/17 Operating Lease Assets

In its Q1/17 earnings release, KeyCorp reported operating lease assets of $563 million were up 55.5% from $362 million at the end of the same quarter in 2016. read more

U.S. Bancorp Reports Higher Q1 Earnings, Lease Financing Growth

U.S. Bancorp reported Q1/17 net income of $1,473 million was up 6.3% from the same quarter in 2016. Average lease financing loans of $5.46 billion in Q1/17 were up 4.1% from $5.24 billion in Q1/16. read more

Bank of America Beats Estimates, Q1 Y/Y Earnings Increase 40%

Bank of America reported net income was up 40% to $4.9 billion before preferred stock dividends. EPS of $0.41 exceeds analysis’ estimates of $0.35. read more

Wells Fargo Q1 Lease Financing Balances Up 26.7% Year/Year

Wells Fargo reported its lease financing average balances of $19,070 million in Q1/17 were up 26.7% compared to $15,047 million for the same quarter a year earlier. read more

PNC Financial Beats the Street on Higher Revenues, Earnings

PNC Financial reported Q1/17 revenue and net income was up 6.0% and 13.9%, respectively. Earnings per share of $1.96 exceeded analysis’ polled by Thomson Reuters of $1.83. read more

JPMorgan Q1 Earnings Increase on Higher Revenue, Lower Provisioning

JPMorgan Chase reported Q1/17 net income of $6.45 billion, up 17% from $5.52 billion a year earlier. The bank noted revenue was up $1.5 billion and provision charges were down 28% helped by oil and gas releases. read more

Ascentium Capital Reports 25.5% Y/Y Increase in Funded Volume in Q1/17

Ascentium Capital reported Q1/17 funded volume of $225.1 million, representing 25.5% growth year-over-year. The company also managed $1.6 billion in assets, representing a 37.7% increase year-over-year. read more

Fleet Financing Resources Reports 32% Origination Increase in 2016

Fleet Financing reported a 22% increase to $5.4 million in finance income as well as a 32% increase in origination volume for the fiscal year ended December 31, 2016. read more

Willis Lease Finance 2016 P/T Earnings Up 87.4% on Record Revenue

Willis Lease Finance reported 2016 pre-tax earnings of $23.9 million, up 87.4% from $12.8 million in 2015 on record revenue of $207.3 million. read more

FLY Leasing Q4/16, FY Loss Driven Primarily by Impairment Charges

FLY Leasing reported a Q4/16 and FY net loss of $63.8 million and $29.1 million driven by non-cash impairment charges taken on older, out-of-production wide-body aircraft. read more

Element Reports 40% Y/Y Increase in Originations, Triples Dividend

Element Fleet Management reported 2016 originations were $6.6 billion, up 40.4% from $4.7 billion a year earlier. Element’s board also approved a recommendation for a threefold increase in its annual dividend. read more

Arvest Records 25.1% Growth in 2016, Announces Personnel Changes

Arvest Equipment Finance recorded a second consecutive year of at least 25% growth in volume in 2016. In addition, AEF promoted John Bradford and hired Omar Portillo and Rick Dierks. read more

Navistar Reports Q1/17 Loss on Lower Class 8 Volume

Navistar reported a Q1/17 net loss of $62 million which reflects lower truck volume due to soft Class 8 heavy industry conditions. Financial Services revenue and earnings were also down partially driven by lower finance receivables balances. read more

ECN Capital to Shed $1.7B in U.S. Assets after Sale to PNC

ECN Capital said assets under management at YE/16 of $7.9 million will be reduced to $6.2 million after the sale of the U.S. commercial and vendor finance business to PNC Financial Services. read more

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