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-Box, portable moving and storage containers, have been recognized as the best in the industry, receiving a 4.8 out of 5 stars from Forbes Home in its "Best Moving Containers Of 2022" ranking. Factors for this top position include high customer satisfaction, flexibility, and no cancellation fees. U-Box containers offer 257 cubic feet of storage and one-ton capacity, with availability in all states and global shipping options. U-Haul continues to support communities during COVID-19, ensuring safe delivery and enhanced cleaning protocols.
U-Haul acquired the former Bonanza Mini Storage facility in Las Vegas to enhance moving and storage services for local residents. The new U-Haul Storage at Bonanza, operational since December 13, features 155 rental units on nearly one acre, located just 2.5 miles from downtown. This eco-friendly expansion allows U-Haul to meet rising demand without new construction. Customers can access extended hours, reflecting U-Haul's commitment to quality service. The company emphasizes support for local dealers and essential services during COVID-19 recovery.
U-Haul Moving & Storage at Princeton & Candelaria closed its doors permanently on February 18, 2022, after 11 years of operation. This retail space, spanning 700 square feet, initially served DIY movers since 2011. U-Haul maintains ownership of the site, with a nearby location at U-Haul of Westside offering a full range of products and services. Despite the closure, U-Haul continues to support communities, providing essential services during the COVID-19 recovery. Four employees were impacted by the closure.
U-Haul has officially closed its fulfillment center at 1650 N. Topping Ave., with operations ceasing in late 2021. This facility, operational since 2008, distributed products across the U.S. and Canada, employing about 200 team members who have now been let go. U-Haul is transitioning to a new fulfillment center at 1800 Reynolds Ave. to support increased shipping demands, packing and shipping over 500,000 parts weekly. Reasons for the closure include strategic growth plans and operational efficiency.
U-Haul has officially commenced operations at its new fulfillment and distribution center located at 1800 Reynolds Ave., Kansas City, expanding its operational footprint. The 410,000-square-foot facility enhances U-Haul's distribution capabilities for truck parts and moving supplies across North America. This significant investment reflects U-Haul's commitment to sustainability through adaptive reuse of existing structures. The center aims to employ at least 220 individuals, underscoring U-Haul's support for local job creation.
AMERCO (Nasdaq: UHAL) reported robust financial results for its third quarter ending December 31, 2021, with net earnings of $281.5 million ($14.35 per share), up from $183.0 million ($9.33 per share) year-over-year. For the nine-month period, earnings reached $1,036.5 million ($52.86 per share), compared to $537.1 million ($27.39 per share) last year. Key revenue drivers included a 21% increase in self-moving equipment rental revenues and a 30% rise in self-storage revenues. Despite challenges in vehicle acquisition, productivity improvements were emphasized.
U-Haul announced plans to transform the former Maiers Transport & Warehousing facility at 700 54th Ave into a comprehensive retail, moving, and self-storage center in St. Cloud, Minnesota. The adaptive reuse project will feature approximately 650 climate-controlled storage units equipped with advanced security features and will promote local job creation by hiring at least 10 team members. U-Haul acquired the property on Dec. 28, 2021, as part of its commitment to sustainability and community support. The facility aims to meet the growing storage needs of the west side of St. Cloud.
U-Haul will establish a new retail, moving, and self-storage facility at 8200 Jefferson St., Albuquerque, scheduled to open by the end of 2023. The three-story building will feature climate-controlled self-storage, outdoor storage units, and U-Box portable storage containers. Offering over 700 ADA-accessible self-storage rooms, the facility will include U-Haul truck rentals and moving supplies. U-Haul acquired the property on Dec. 30, and plans to hire at least 12 local employees. This expansion aims to meet the demand for affordable self-storage in the area.
AMERCO (Nasdaq: UHAL), the parent company of U-Haul, will release its third quarter fiscal 2022 financial results after market close on February 9, 2022. An investor conference call is scheduled for February 10, 2022, at 8 a.m. Arizona Time (10 a.m. ET). The call and webcast may contain forward-looking statements. Investors can access the archived call for a year on www.amerco.com.
U-Haul is transforming a former Kmart building located at 2450 Foothill Blvd. in Rock Springs, Wyoming, into over 700 climate-controlled self-storage rooms. This initiative aims to meet local demand and aligns with the company's sustainability goals. The facility will offer advanced security features and affordable pricing, enhancing customer access with extended hours. U-Haul, which acquired the 8.19-acre property on December 17, 2021, plans to hire at least 12 local employees and continues to support small businesses through dealer partnerships.
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