GATX Corp. reported fourth-quarter 2016 net income of $30.9 million, or 77 cents per share, down from $58.2 million, or $1.37 per share, in the year-ago quarter.

The results for the fourth quarter of 2016 include net negative impacts from tax adjustments and other items of 37 cents per share, compared with net negative impacts of 7 cents per share in the fourth quarter of 2015.

Non-GAAP net income, which excludes tax adjustments and other items, for the quarter fell to $46.0 million, or $1.14 per share, from $61.2 million, or $1.44 per share, in the prior-year period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $1.05.

Total revenues for the quarter were booked at $362.1 million, down from $378.7 million in the year-ago period.

For full year 2016, the company reported net income of $257.1 million, or $6.29 per share, up from $205.3 million, or $4.69 per share, in 2015. Non-GAAP net income, excluding tax adjustments and other items, was $235.9 million, or $5.77 per share, for 2016, up slightly from $234.9 million, or $5.37 per share, in 2015.

The S&P Capital IQ consensus normalized EPS estimate for 2016 was $5.69.

"Many of the market challenges we faced in 2016 continue as we move into 2017," GATX President and CEO Brian Kenney said in a statement. As a result of those challenges, the company anticipates 2017 EPS to range between $4.40 and $4.60.