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.
A new U-Haul retail and self-storage facility is set to open in Bradenton, Florida, after a recent 10-acre land acquisition on Sept. 24, 2021. Located at 14703 E. State Road 64, the facility will comprise a four-story building with over 100,000 square feet and more than 700 climate-controlled self-storage rooms. Completion is scheduled for 2023. The expansion aims to cater to the growing demand in the Lakewood Ranch area, with plans to hire at least 12 local employees.
On October 4, 2021, AMERCO (Nasdaq: UHAL) announced a private placement for $600 million in fixed rate senior unsecured notes with an average interest rate of 2.59%. The issuance consists of four tranches, each totaling $150 million, with varied due dates from 2029 to 2033. Chairman Joe Shoen emphasized that this capital will support growth in retail locations to enhance services for self-moving and self-storage customers across North America. These notes will not be registered under the Securities Act of 1933 and will not be offered in the U.S. without registration or exemption.
On October 4, 2021, U-Haul announced the closure of its Kargo Repair shop in Midwest City, Oklahoma, which had been operating since 1989. This decision is part of U-Haul's strategic plan to repurpose the 10,500-square-foot facility for self-storage expansion. The maintenance operations will be relocated to another facility in Oklahoma City. The closure will result in the loss of 22 jobs, but U-Haul continues to adapt its services amid the ongoing COVID-19 recovery, ensuring customer safety with enhanced protocols.
U-Haul has acquired another one million gallons of renewable propane for its California stores, ensuring a continuous supply into 2022. This marks the second consecutive year U-Haul has made this purchase, working with national distributor Suburban Propane. The initiative supports California's clean fuel policies without passing cost increases to customers. Renewable propane has a lower carbon intensity than traditional propane, contributing to a reduction of 5 million tonnes of greenhouse gas emissions for every million gallons sold. U-Haul promotes sustainability through eco-friendly initiatives.
U-Haul announced plans for a new retail and self-storage facility in Orlando, located at 5150 S. Orange Blossom Trail, after acquiring 6.04 acres on September 24, 2021. The facility, set to open in 2023, will feature climate-controlled storage units, a retail showroom, and U-Box® containers. It aims to meet the increasing demand for moving and storage services in a booming Florida market. U-Haul plans to hire at least 12 local employees and continue to support the community during the construction phase with nearby services.
U-Haul has acquired a 10.57-acre site in St. Augustine, aiming to develop a state-of-the-art moving and self-storage facility. The U-Haul Moving & Storage of Palencia, set to open in 2022, will include over 130,000 square feet and 800 climate-controlled storage units with advanced security features. The facility's strategic location off Highway 1 caters to the growing population in the area, predicted to drive demand for moving and storage services. U-Haul plans to employ at least 12 local team members and emphasizes its commitment to community support.
U-Haul is launching an adaptive reuse project for a vacant warehouse in Charlotte, NC, set to become a full-service retail and self-storage facility. The initiative will include approximately 700 indoor climate-controlled storage units with advanced security features, expected to be available this winter. U-Haul acquired the property on June 21, 2021, with plans to support local job growth by employing at least 14 team members. This development is part of U-Haul's sustainability efforts to reduce carbon footprints, offering affordable storage options while revitalizing the area.
U-Haul has acquired the former General Electric Oil and Gas office in Oklahoma City to develop a new retail and self-storage facility. This site, located at 5500 SE 59th St., spans 132,907 square feet on 19.3 acres and was purchased on August 18, 2021. Renovations will be completed this winter, featuring climate-controlled units with enhanced security. U-Haul aims to support local job growth by hiring at least 12 staff members and emphasizes sustainability through adaptive reuse of the building, aligning with its corporate responsibility goals.
U-Haul is set to transform the former Kmart store at 74 Worcester Road in Webster into a new facility featuring over 750 climate-controlled self-storage units. Scheduled to open in October, the location will also offer truck rentals and a retail showroom with moving supplies. U-Haul acquired the property on June 18, 2021, as part of its sustainability initiatives aimed at repurposing existing buildings. The facility will create at least 12 local jobs and provide extended access to storage, meeting community demand.
U-Haul has acquired 6.23 acres of land in Carlsbad, NM, with plans to establish a state-of-the-art moving and self-storage facility by 2022. The facility will feature over 100,000 square feet, housing more than 700 climate-controlled self-storage rooms equipped with advanced security systems. This project aims to meet local demand as the nearest U-Haul facility was over 70 miles away in Hobbs. The company plans to hire at least 15 local team members to support job growth in the area.
FAQ
What is the current stock price of U-Haul Holding Company (UHAL)?
What is the market cap of U-Haul Holding Company (UHAL)?
What services does U-Haul provide?
How many rental locations does U-Haul have?
What are the key segments of U-Haul's operations?
How significant is U-Haul in the self-storage market?
What sustainability initiatives does U-Haul promote?
How does U-Haul support veterans?
How can customers access U-Haul services?
What recent projects has U-Haul announced?
How does U-Haul promote job growth in local communities?
What is the U-Haul shared-use business model?
