Welcome to our dedicated page for U-Haul Holding Company news (Ticker: UHAL), a resource for investors and traders seeking the latest updates and insights on U-Haul Holding Company stock.
U-Haul Holding Company (symbol: UHAL) is a prominent American enterprise specializing in the rental of trucks, trailers, and self-storage space. Founded in 1945, the company has firmly established itself as the No. 1 choice of do-it-yourself movers with over 23,000 rental locations across the United States and Canada. U-Haul’s wide array of services includes moving truck and trailer rentals, self-storage units, moving boxes, and packing supplies. Additionally, the company provides LPG (propane) refills, trailer hitch and wiring installation, and storage container rentals.
U-Haul operates through three key segments: Moving and Storage, Property and Casualty Insurance, and Life Insurance. The Moving and Storage segment, being the most significant, contributes the majority of its revenue. The company’s fleet boasts impressive numbers, including 192,200 trucks, 138,500 trailers, and 44,500 towing devices. U-Haul is also the third-largest self-storage operator in North America, overseeing 967,000 rentable units and 83.3 million square feet of self-storage space.
U-Haul continues to expand its reach with several ambitious projects. Recently, U-Haul announced the development of new retail, moving, and self-storage centers in Junction City, Kansas, and Lake Ozark, Missouri. These centers will feature climate-controlled storage units, truck and trailer sharing, and U-Box portable storage containers. Additionally, U-Haul has acquired properties in Webster, New York, and Decatur, Alabama, further enhancing its service capacity in these regions.
The company actively promotes sustainability. Its shared-use business model allows communities to share moving equipment, reducing the need for large-capacity vehicle ownership. U-Haul’s Adaptive Reuse program, which repurposes existing buildings, along with innovations like fuel-efficient truck modifications and recyclable Ready-To-Go Boxes, underscores its commitment to green business practices. Recently, its U-Box Load Share program was awarded the 2023 Best in Biz gold for being the Most Environmentally Friendly Service of the Year.
U-Haul is also a significant employer, recognized as a Best for Vets employer by The Military Times. It actively recruits veterans and promotes job growth in local communities, planning to hire locally for new projects in various locations. The company’s enhanced app facilitates easy access to its services, allowing customers to reserve equipment and manage rentals conveniently through their smartphones.
For more information about U-Haul and its wide array of services, visit their official website or download the U-Haul app from the App Store or Google Play.
U-Haul's first employee, U.S. Army veteran William E. "Hap" Carty, will be honored posthumously as the Business Community Grand Marshal in the Phoenix Veterans Day Parade on November 11, 2022. Carty, who passed away in June at 95, had a significant impact on U-Haul's growth, including the establishment of the U-Haul Technical Center in Tempe. The parade will include U-Haul team members commemorating his legacy, and over 45,000 spectators are expected. U-Haul is recognized as a leading employer for veterans and continues to support veteran initiatives.
AMERCO (Nasdaq: UHAL) reported net earnings of $352.0 million ($17.95 per share) for Q2 2023, down from $409.9 million ($20.90 per share) a year prior. For the six-month period, earnings reached $686.0 million ($34.99 per share), a decrease from $755.1 million ($38.51 per share) in 2022. Self-moving equipment rental revenues declined by $17.0 million (1%), while self-storage revenues soared by $32.1 million (21%). Corporate actions include a name change to U-Haul Holding Company and a 9-for-1 dividend of non-voting shares, starting November 10, 2022.
AMERCO (Nasdaq: UHAL) announced that trading of its new Series N Non-Voting Common Stock will begin on November 9, 2022. This follows an announcement on October 24, 2022, regarding the creation and issuance of this new stock series through a 9-for-1 stock dividend to existing Voting Common Stock holders. The new shares will trade under the symbol UHALB and are expected to be distributed after market close on November 9, 2022, to stockholders of record as of November 3, 2022. A regular dividend policy of $0.04 per share per quarter for the new shares has also been announced.
AMERCO (Nasdaq: UHAL) will release its second quarter fiscal 2023 financial results on November 9, 2022, after market close. An investor conference call is scheduled for November 10, 2022, at 8 a.m. Arizona Time (10 a.m. ET). U-Haul is the largest self-moving company with over 23,000 locations in the U.S. and Canada, operating a fleet of approximately 186,000 trucks. The company plans to change its name to U-Haul Holding Company by the end of 2022.
AMERCO (Nasdaq: UHAL) announced a dividend policy for its new Series N Non-Voting Common Stock, declaring a quarterly cash dividend of $0.04 per share starting in Q3 fiscal year 2023. This policy follows the formation of the new stock series and a recent issuance of shares to voting stockholders. The non-voting shares will be distributed after trading closes on November 9, 2022, to stockholders of record as of November 3, 2022. Trading for the new shares is expected to begin on November 10, 2022.
AMERCO (Nasdaq: UHAL) announced a 9-for-1 stock dividend of newly-created non-voting common stock and a corporate name change to U-Haul Holding Company by the end of 2022. This initiative aims to enhance stock marketability and attract new investors while responding to stockholder feedback. The dividend, effective November 9, will yield ten shares for each voting common share held, maintaining proportional ownership. UHALB will represent the new stock on the Nasdaq, enhancing liquidity without undermining existing voting structures.
U-Haul Moving & Storage of North Nashua has completed 600 indoor climate-controlled self-storage units designed for enhanced security, available for rent. This expansion enhances services for the growing Nashua community and represents U-Haul's commitment to offering comprehensive moving and storage solutions. The facility also features a two-story building with additional amenities, including U-Box storage and truck rentals. U-Haul continues to support local small businesses through partnerships with neighborhood dealers, reinforcing its position as a leading self-storage operator in North America.
U-Haul is providing 30 days of free self-storage at 22 locations in South Carolina and Georgia due to Hurricane Ian's impact. This initiative aims to assist residents affected by storm surge, flooding, and strong winds. U-Haul's president, Tinessa Edwards, emphasized the urgent need for secure storage as the storm approaches. The offer is available to customers renting new units, subject to availability. Additionally, U-Haul has 43 facilities in Florida ready to assist with the same offer. For more details, customers can contact their nearest facility.
U-Haul is closing its retail showroom at 2366 Byrne Road in Toledo after 28 years of service, effective October 3, 2022. The facility will continue to operate as a self-storage site with 475 units managed remotely. This decision has resulted in the layoff of three team members. The closure is part of a broader strategy to enhance services, influenced by factors such as demographic shifts and regional market conditions. U-Haul remains committed to supporting local dealers and small businesses through partnerships, continuing its service to DIY movers.
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