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 is providing 30 days of free self-storage and U-Box container usage across 43 facilities in Florida for residents affected by Hurricane Ian, as evacuations are mandated in Hillsborough County and other areas. The offer is part of their disaster relief program, aimed at supporting local communities facing hurricane threats. Customers can access this service subject to availability and must contact participating locations for more details. U-Haul emphasizes its commitment to helping families during emergencies and is recognized as an official American Red Cross Disaster Responder.
U-Haul has closed its retail showroom at 50 W. Alexis Road in Toledo after 39 years of operation, effective September 13, 2022. The closure led to the termination of five employees. The location will continue to operate as a self-storage facility, managed remotely from a nearby U-Haul location at 1739 W. Alexis Road. U-Haul cited various strategic reasons for the closure, including safety concerns and shifts in demographics. Despite the closure, the company maintains a network of local dealers to support DIY movers in the Toledo area.
The U-Haul store in Del City, Oklahoma, has officially closed after serving the community for 45 years, effective September 4, 2022. Originally a service station, the store was acquired by U-Haul in 1977 and operated on 0.82 acres. Two employees were affected by the closure. U-Haul plans to lease the property to an independent business, ensuring that truck and trailer rentals remain accessible. The 24 storage units on-site will be remotely managed until moved to a nearby U-Haul facility in Midwest City. U-Haul continues to partner with local dealers to meet customer needs.
The American Association of Motor Vehicle Administrators (AAMVA) has incorporated U-Haul Safe Trailering best practices into its updated Model Driver's License Manual, enhancing driver education for safe trailering. This initiative aims to prevent road hazards and fatalities. With nearly everyone exposed to trailer towing, U-Haul's Vice President stated that understanding safe trailering is essential. Since 1959, U-Haul has collaborated with AAMVA to promote highway safety. The program will provide essential information to new drivers across jurisdictions, reinforcing safe driving practices.
On August 18, 2022, AMERCO (Nasdaq: UHAL) declared a special cash dividend of $0.50 per share. This dividend will be payable on September 20, 2022 to shareholders of record as of September 6, 2022. AMERCO is the parent company of U-Haul International and other subsidiaries. U-Haul, the leading choice for do-it-yourself movers, operates over 23,000 locations across the U.S. and Canada, with a fleet comprising approximately 186,000 trucks and several other rental and storage options.
AM Best has affirmed Repwest Insurance Company's Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of 'a' (Excellent), with a stable outlook. These ratings highlight Repwest's strong balance sheet and operational performance, driven by solid risk-adjusted capitalization and profitable underwriting results. The company benefits from U-Haul's leading market position and growth in self-storage and self-moving services. Repwest provides commercial inland marine products, ensuring goods stored in various U-Haul offerings.
U-Haul has acquired the former Starpar Storage property at 4541 Tanglewood Drive in Sebring, Florida, marking its first company-owned facility in the area. The new location, operational since July 19, 2022, features 575 rental units and offers a range of services including self-storage, truck and trailer sharing, and moving supplies. Plans are in place to expand with additional drive-up storage units. U-Haul aims to create 20 local jobs at this facility, contributing to the community's growth.
AMERCO (Nasdaq: UHAL), the parent company of U-Haul International, has scheduled its sixteenth annual virtual analyst and investor meeting for August 18, 2022, at 11 a.m. Arizona time (2 p.m. Eastern Time). The meeting aims to enhance investor engagement and align with the company's sustainability initiatives. Attendees can participate by visiting www.amerco.com on the day of the event. AMERCO continues to innovate and expand its offerings in the moving and storage industry, maintaining a strong commitment to its customers and the environment.
U-Haul is responding to severe flooding in Kentucky and Tennessee by offering 30 days of free self-storage and U-Box container usage at six facilities. This initiative aims to assist residents during their recovery from the extensive home damage caused by recent storms. The offer is available while supplies last, and impacted individuals are encouraged to utilize the storage services. U-Haul continues to demonstrate its commitment to community aid, being recognized as an official American Red Cross Disaster Responder.
AMERCO (Nasdaq: UHAL) reported net earnings of $334 million, or $17.03 per share, for Q1 fiscal 2023, down from $345.2 million, or $17.60 per share, year-over-year. Self-moving equipment rental revenues increased by $55.4 million, or 5.4%, and self-storage revenues rose by $35.8 million, or 26%. Occupancy rates improved, with a 19% increase in occupied units. However, operating earnings decreased by $1.4 million due to rising costs. Cash and credit availability in the Moving and Storage segment stood at $3.1 billion, reflecting strong liquidity.
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