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 will open a new 200-room self-storage facility in Nashville at the former WASCO masonry warehouse by Dec 15, 2021. This location replaces the store destroyed by a tornado in March 2020, which had been temporarily operating from a trailer. The new facility aims to support local communities and enhance sustainability by repurposing existing buildings. Renovations will create indoor climate-controlled storage and employ at least eight team members, with a focus on hiring locally. U-Haul continues to provide essential services during the COVID-19 recovery.
U-Haul has acquired 7.57 acres in Loveland, Colorado, to build a modern retail and self-storage facility, scheduled for completion in 2023. This new facility will include a three-story building with around 100,000 square feet, offering over 700 indoor, ADA-accessible self-storage units equipped with climate control and high-security features. The store aims to accommodate local demand and will feature a retail showroom, truck rental services, and more. U-Haul plans to hire at least 12 local employees to support the operation, reinforcing its commitment to community job growth.
U-Haul is expanding its self-storage services in Annapolis, Maryland, by acquiring a 3.95-acre property that adds 44,139 square feet and 908 storage units. This strategic move addresses the high demand for self-storage in the area, influenced by the transient population associated with the U.S. Naval Academy. The expansion will lead to new job openings, with a focus on hiring locally, including veterans. U-Haul has been operating in Annapolis since 2019 and aims to enhance its customer offerings as an essential service during COVID-19 recovery.
Humble Design Chicago is focusing on veterans this November, providing essential furnishing services to assist homeless veterans transition to stable housing. Highlighting its commitment, the organization will aid disabled veteran Odell Johnson on Veterans Day, helping him rebuild his life after facing homelessness. Humble Design's efforts have helped 99% of its clients escape homelessness, showcasing a successful model since servicing 2,000 families since its inception. Notably, U-Haul is a national sponsor, facilitating this initiative, alongside local support from Jewel-Osco.
AMERCO (Nasdaq: UHAL) reported strong second-quarter earnings for fiscal 2022, with net earnings of $409.9 million, or $20.90 per share, up from $266.4 million, or $13.58 per share, year-over-year. For the six-month period, net earnings reached $755.1 million, or $38.51 per share, significantly higher than the previous $354.1 million. Revenue from self-moving equipment rentals increased by 27% to $1.16 billion, while self-storage revenues rose by 33%. Additionally, the company secured $600 million in fixed-rate senior unsecured notes to bolster its financial strength.
U-Haul has purchased six acres in Las Cruces to develop a new self-storage facility, scheduled for completion in 2023. The facility will feature over 85,000 square feet of indoor storage, with 600 climate-controlled units and advanced security. This move responds to increasing demand in the area, known for its appeal to retirees. The Northrise location will also offer U-Box portable storage and additional moving supplies. U-Haul emphasizes community employment and intends to prioritize local hires, particularly veterans, as part of its staffing strategy.
U-Haul at Yale Ave. in Tulsa, Oklahoma has permanently closed after 38 years of operation. Opened in 1983, the store provided truck rentals, moving supplies, and other services. Customers are directed to the nearby U-Haul Moving & Storage of Midtown for all their needs. This facility offers extensive services including climate-controlled storage and professional hitch installations. The closure reflects strategic business decisions by U-Haul, driven by factors such as shifting demographics and consolidation of services. One employee was let go due to this closure.
U-Haul will transform a former Kmart building at 1500 Charleston Hwy., West Columbia, into over 700 indoor climate-controlled self-storage rooms to address rising customer demand. This adaptive reuse project involves a 100,984-square-foot facility, emphasizing U-Haul's commitment to sustainability by reducing the environmental impact associated with new constructions. The facility will offer high-tech security, affordable pricing, and extended access hours. U-Haul plans to hire at least 12 local team members, further contributing to community growth.
U-Haul plans to convert a two-story building at 2012 McHenry Ave. in Modesto into a self-storage facility. The project will create around 500 indoor climate-controlled storage rooms and a warehouse for U-Box® containers. The building was acquired on Oct. 5, 2021, to address increasing demand in the area. U-Haul emphasizes sustainability by repurposing existing structures to reduce energy use. This initiative is part of U-Haul's commitment to community investment and support during the COVID-19 recovery phase.
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