CAI International (NYSE: CAI) reported Q3 EPS of $1.03, $0.05 better than the analyst estimate of $0.98.

• Net income attributable to CAI common stockholders for the third quarter of 2018 was $20.0 million, or $1.03 per fully diluted share, compared to $17.6 million, or $0.90 per fully diluted share, in the third quarter of 2017.
• CAI reported record lease-related revenue for the third quarter of 2018 of $84.1 million, an increase of 22% compared to the third quarter of 2017.
• Average utilization for CAI’s owned container fleet during the third quarter of 2018 was 99.2% compared to 98.2% for the third quarter of 2017.
• During the third quarter of 2018, CAI leased out $296 million of container equipment.
• During the first nine months of 2018, CAI has invested or committed to invest approximately $720 million in container equipment, the vast majority of which is already on lease or committed to be leased.
• During the third quarter of 2018, CAI had net lease outs of 584 railcars, and has firm customer commitments to lease an additional 625 new cars. Utilization of the railcar fleet is currently 87%, up from 78% at the end of the second quarter of 2018.
• During the third quarter of 2018, CAI issued $343.5 million of fixed rate asset-backed notes.
• During the third quarter of 2018, CAI issued approximately two million shares of its 8.5% Series B fixed-to-floating rate cumulative redeemable perpetual preferred stock for net proceeds of $47.3 million.
• Annualized return on average common equity for the third quarter of 2018 was 14%.
• CAI recently entered into a $100 million five-year fixed rate term loan agreement. Fixed rate debt now represents approximately 70% of CAI’s total outstanding debt.
• Earlier this month, CAI announced a new 3.0 million common stock share repurchase program

For earnings history and earnings-related data on CAI International (CAI) click here.