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 Co. of West Virginia has filed for voluntary Chapter 11 bankruptcy protection as of June 16, 2021, due to ongoing challenges including management turnover and high litigation costs, which have hindered cash flow. The company will continue operations without interruption, maintaining service to customers and supporting employees. The restructuring process follows a previous internal commitment to enhance its business and is backed by U-Haul International, which is negotiating a capital infusion to support the reorganization.
On June 9, 2021, AMERCO (Nasdaq: UHAL) declared a special cash dividend of $0.50 per share, payable on July 8, 2021, to shareholders on record as of June 24, 2021. This announcement reflects the company's robust financial standing and commitment to returning value to shareholders. AMERCO operates several subsidiaries, including U-Haul, which has established itself as a leader in the do-it-yourself moving industry since its inception in 1945.
U-Haul is set to host a grand opening for its new retail and indoor self-storage facility at Peach Street Marketplace in Erie, PA, on June 5. The event will run from 10 a.m. to 2 p.m. and will feature various festivities, including local food trucks and a live DJ. Attendees will also witness the reveal of the HAPPI Home Update contest winner, who will receive a prize package worth over $12,000, including a year's free storage. The facility boasts 748 indoor storage units and includes advanced security and climate-control options. This location marks one of three new U-Haul stores in Erie.
AMERCO (Nasdaq: UHAL) reported a net earnings increase to $610.9 million, or $31.15 per share, for the fiscal year ending March 31, 2021, compared to $442.0 million, or $22.55 per share, in the previous year. The fourth quarter earnings were $73.8 million, or $3.76 per share, down from $122.4 million, or $6.24 per share, year-over-year. Self-moving equipment rental revenues surged 33% in Q4 and 15% for the year. Self-storage revenues rose 19% in Q4 and 14% annually. Despite challenges in capital expenditures, operational performance improved significantly, reflecting strong customer demand.
U-Haul is providing 30 days of free self-storage to residents in southeast Texas and southwest Louisiana affected by recent storms and severe flooding. This initiative involves five facilities located in Texas and Louisiana, aiming to support families who have suffered damage or loss of property. The flooding has severely impacted areas like Beaumont and Baton Rouge, causing road closures and necessitating rescues. U-Haul emphasizes its commitment to community aid, and impacted residents can reach out to local facilities for assistance.
AMERCO (Nasdaq: UHAL), the parent company of U-Haul, will release its fourth quarter fiscal 2021 financial results on May 26, 2021, after market close. An investor conference call and webcast is scheduled for May 27, 2021, at 8 a.m. Arizona Time (11 a.m. ET). These events may include forward-looking statements. The financial results will provide insights into U-Haul's performance in the DIY moving and self-storage industry, which serves a vast customer base across North America.
U-Haul is providing 30 days of free self-storage for residents affected by the Tussock Fire in Crown King, Arizona, following recent evacuation orders. The fire, which started recently, has prompted concerns for personal belongings, leading U-Haul to assist those in need at their Wickenburg location. U-Haul is also recognized as an official American Red Cross Disaster Responder and continues to serve communities during COVID-19 with contactless programs. The company operates 22,000 locations and offers nearly 774,000 storage units across North America.
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?
